Sol-Gel Technologies Ltd. (NASDAQ:SLGL) Short Interest Update

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) saw a significant growth in short interest in the month of February. As of February 27th, there was short interest totaling 8,979 shares, a growth of 55.5% from the February 12th total of 5,775 shares. Approximately 1.0% of the shares of the company are short sold. Based on an average daily volume of 23,930 shares, the short-interest ratio is presently 0.4 days. Based on an average daily volume of 23,930 shares, the short-interest ratio is presently 0.4 days. Approximately 1.0% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

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

Sol-Gel Technologies Stock Down 2.7%

Sol-Gel Technologies stock traded down $2.27 during mid-day trading on Friday, hitting $83.04. The company’s stock had a trading volume of 36,536 shares, compared to its average volume of 26,020. The stock has a market capitalization of $231.68 million, a P/E ratio of -25.47 and a beta of 1.30. Sol-Gel Technologies has a twelve month low of $4.02 and a twelve month high of $97.97. The stock’s fifty day moving average price is $70.77 and its two-hundred day moving average price is $47.40.

Insider Activity

In other Sol-Gel Technologies news, major shareholder Opaleye Management Inc. purchased 35,169 shares of the firm’s stock in a transaction dated Tuesday, December 30th. The stock was acquired at an average cost of $41.99 per share, with a total value of $1,476,746.31. Following the acquisition, the insider owned 421,242 shares of the company’s stock, valued at approximately $17,687,951.58. This represents a 9.11% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In the last 90 days, insiders have bought 75,368 shares of company stock valued at $3,206,907. Company 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. lifted its position in Sol-Gel Technologies Ltd. (NASDAQ:SLGL) by 121.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 453,739 shares of the company’s stock after acquiring an additional 248,904 shares during the quarter. Sol-Gel Technologies makes up about 2.5% of Opaleye Management Inc.’s holdings, making the stock its 9th biggest holding. Opaleye Management Inc. owned 16.29% of Sol-Gel Technologies worth $19,121,000 at the end of the most recent reporting period. 26.18% of the stock is currently owned by hedge funds and other institutional investors.

About Sol-Gel Technologies

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.