Sol-Gel Technologies Ltd. (NASDAQ:SLGL) Short Interest Down 23.4% in February

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) was the recipient of a significant decline in short interest during the month of February. As of February 13th, there was short interest totaling 5,775 shares, a decline of 23.4% from the January 29th total of 7,538 shares. Currently, 0.6% of the company’s stock are sold short. Based on an average trading volume of 27,291 shares, the days-to-cover ratio is presently 0.2 days. Based on an average trading volume of 27,291 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.6% of the company’s stock are sold short.

Analysts Set New Price Targets

SLGL has been the topic of several analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Sol-Gel Technologies in a research report on Monday, December 29th. HC Wainwright reaffirmed a “buy” rating and set a $110.00 target price (up from $50.00) on shares of Sol-Gel Technologies in a research report on Tuesday, January 20th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $110.00.

Sol-Gel Technologies Price Performance

Shares of Sol-Gel Technologies stock traded down $4.90 during midday trading on Monday, hitting $86.78. The company had a trading volume of 12,066 shares, compared to its average volume of 24,312. Sol-Gel Technologies has a 1-year low of $4.02 and a 1-year high of $93.48. The business’s 50 day simple moving average is $62.62 and its two-hundred day simple moving average is $43.43. The stock has a market cap of $241.77 million, a PE ratio of -26.99 and a beta of 1.36.

Insider Buying and Selling

In other Sol-Gel Technologies news, major shareholder Opaleye Management Inc. purchased 1,151 shares of the company’s stock in a transaction dated Friday, January 23rd. The shares were bought at an average price of $55.98 per share, for a total transaction of $64,432.98. Following the purchase, the insider directly owned 449,844 shares in the company, valued at $25,182,267.12. This trade represents a 0.26% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have purchased 77,892 shares of company stock valued at $3,302,340 over the last ninety days. Insiders own 66.51% of the company’s stock.

Institutional Investors Weigh In On Sol-Gel Technologies

A hedge fund recently raised its stake in Sol-Gel Technologies stock. Opaleye Management Inc. increased its position in shares of Sol-Gel Technologies Ltd. (NASDAQ:SLGL) by 121.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 453,739 shares of the company’s stock after buying an additional 248,904 shares during the quarter. Sol-Gel Technologies accounts for 2.5% of Opaleye Management Inc.’s portfolio, making the stock its 9th biggest holding. Opaleye Management Inc. owned approximately 16.29% of Sol-Gel Technologies worth $19,121,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 26.18% of the company’s stock.

Sol-Gel Technologies Company Profile

Sol-Gel Technologies, Inc (NASDAQ: SLGL) is a U.S.-based advanced materials company specializing in the development and commercialization of nanostructured materials using proprietary sol-gel processes. Leveraging expertise in materials chemistry and thin-film deposition, the company focuses on the production of metal oxide powders, sols, coatings and functional inks designed to enhance performance in a variety of industrial and commercial applications.

The company’s product portfolio includes corrosion- and abrasion-resistant coatings, dielectric and conductive films, catalyst supports and specialty fillers.