Sol-Gel Technologies (NASDAQ:SLGL) Major Shareholder Opaleye Management Inc. Acquires 1,500 Shares of Stock

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) major shareholder Opaleye Management Inc. acquired 1,500 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was acquired at an average price of $67.98 per share, with a total value of $101,970.00. Following the purchase, the insider directly owned 486,500 shares in the company, valued at approximately $33,072,270. This represents a 0.31% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Opaleye Management Inc. also recently made the following trade(s):

• On Wednesday, May 13th, Opaleye Management Inc. acquired 1,937 shares of Sol-Gel Technologies stock. The stock was acquired at an average price of $66.87 per share, with a total value of $129,527.19.

Sol-Gel Technologies Trading Down 6.0%

Shares of NASDAQ:SLGL opened at $68.68 on Friday. The firm has a 50 day moving average of $76.30 and a 200-day moving average of $60.92. The stock has a market capitalization of $192.99 million, a PE ratio of -30.80 and a beta of 1.16. Sol-Gel Technologies Ltd. has a 12 month low of $6.80 and a 12 month high of $97.97.

Sol-Gel Technologies (NASDAQ:SLGL) last issued its earnings results on Thursday, March 19th. The company reported ($1.07) EPS for the quarter, missing the consensus estimate of $0.39 by ($1.46). The firm had revenue of $0.70 million during the quarter, compared to analyst estimates of $6.50 million. Sol-Gel Technologies had a negative net margin of 31.60% and a negative return on equity of 24.29%.

Analyst Ratings Changes

Several equities analysts have recently commented on SLGL shares. HC Wainwright restated a “buy” rating and issued a $110.00 target price (up from $50.00) on shares of Sol-Gel Technologies in a research report on Tuesday, January 20th. Weiss Ratings upgraded shares of Sol-Gel Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday. Finally, Wall Street Zen upgraded shares of Sol-Gel Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, March 21st. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $110.00.

Institutional Investors Weigh In On Sol-Gel Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in SLGL. Yelin Lapidot Holdings Management Ltd. bought a new stake in shares of Sol-Gel Technologies during the 4th quarter valued at approximately $748,000. Opaleye Management Inc. grew its holdings in shares of Sol-Gel Technologies by 121.5% during the 4th quarter. Opaleye Management Inc. now owns 453,739 shares of the company’s stock valued at $19,121,000 after purchasing an additional 248,904 shares during the last quarter. Finally, Affinity Asset Advisors LLC bought a new stake in shares of Sol-Gel Technologies during the 1st quarter valued at approximately $2,773,000. 26.18% of the stock is owned by institutional investors.

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.