Sol-Gel Technologies (NASDAQ:SLGL) Major Shareholder Opaleye Management Inc. Buys 1,631 Shares of Stock

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) major shareholder Opaleye Management Inc. bought 1,631 shares of the firm’s stock in a transaction dated Thursday, September 10th. The stock was purchased at an average price of $66.80 per share, with a total value of $108,950.80. Following the transaction, the insider owned 538,507 shares in the company, valued at approximately $35,972,267.60. This represents a 0.30% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Friday, September 11th, Opaleye Management Inc. purchased 1,493 shares of Sol-Gel Technologies stock. The shares were purchased at an average cost of $65.94 per share, for a total transaction of $98,448.42.
• On Wednesday, September 9th, Opaleye Management Inc. acquired 3,097 shares of Sol-Gel Technologies stock. The shares were purchased at an average price of $68.70 per share, for a total transaction of $212,763.90.
• On Tuesday, September 8th, Opaleye Management Inc. acquired 3,861 shares of Sol-Gel Technologies stock. The shares were purchased at an average price of $68.82 per share, for a total transaction of $265,714.02.
• On Friday, September 4th, Opaleye Management Inc. acquired 3,018 shares of Sol-Gel Technologies stock. The stock was acquired at an average cost of $69.14 per share, with a total value of $208,664.52.
• On Monday, August 31st, Opaleye Management Inc. bought 5,217 shares of Sol-Gel Technologies stock. The shares were acquired at an average price of $68.27 per share, with a total value of $356,164.59.
• On Friday, August 28th, Opaleye Management Inc. bought 35,113 shares of Sol-Gel Technologies stock. The shares were acquired at an average cost of $69.32 per share, for a total transaction of $2,434,033.16.
• On Friday, July 10th, Opaleye Management Inc. bought 229 shares of Sol-Gel Technologies stock. The shares were acquired at an average cost of $73.95 per share, for a total transaction of $16,934.55.
• On Wednesday, July 8th, Opaleye Management Inc. purchased 300 shares of Sol-Gel Technologies stock. The stock was acquired at an average price of $73.69 per share, for a total transaction of $22,107.00.
• On Thursday, July 2nd, Opaleye Management Inc. purchased 1,400 shares of Sol-Gel Technologies stock. The stock was acquired at an average cost of $71.97 per share, with a total value of $100,758.00.
• On Wednesday, July 1st, Opaleye Management Inc. purchased 312 shares of Sol-Gel Technologies stock. The stock was acquired at an average cost of $71.99 per share, with a total value of $22,460.88.

Sol-Gel Technologies Stock Down 1.2%

SLGL opened at $65.18 on Tuesday. The firm has a market cap of $183.16 million, a price-to-earnings ratio of -11.56 and a beta of 1.12. Sol-Gel Technologies Ltd. has a fifty-two week low of $23.15 and a fifty-two week high of $97.97. The company’s 50-day moving average price is $77.70 and its 200 day moving average price is $76.54.

Sol-Gel Technologies (NASDAQ:SLGL) last issued its earnings results on Friday, August 21st. The company reported ($1.13) EPS for the quarter, beating analysts’ consensus estimates of ($2.36) by $1.23. The company had revenue of $0.59 million during the quarter, compared to the consensus estimate of $0.07 million. Sol-Gel Technologies had a negative return on equity of 44.05% and a negative net margin of 910.14%. Research analysts anticipate that Sol-Gel Technologies Ltd. will post -6.06 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on SLGL. Weiss Ratings restated a “sell (d-)” rating on shares of Sol-Gel Technologies in a research note on Tuesday, September 1st. Mizuho assumed coverage on Sol-Gel Technologies in a research note on Wednesday, June 24th. They issued an “outperform” rating and a $285.00 target price on the stock. TD Cowen started coverage on shares of Sol-Gel Technologies in a report on Friday, May 29th. They set a “buy” rating for the company. Finally, HC Wainwright restated a “buy” rating and set a $110.00 price target on shares of Sol-Gel Technologies in a research report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $197.50.

Hedge Funds Weigh In On Sol-Gel Technologies

An institutional investor recently bought a new stake in Sol-Gel Technologies stock. Navellier & Associates Inc. bought a new stake in Sol-Gel Technologies Ltd. (NASDAQ:SLGL) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 5,785 shares of the company’s stock, valued at approximately $429,000. Navellier & Associates Inc. owned 0.21% of Sol-Gel Technologies at the end of the most recent reporting period. 26.18% of the stock is owned by institutional investors and hedge funds.

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.