Sol-Gel Technologies (NASDAQ:SLGL) Major Shareholder Buys $22,460.88 in Stock

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) major shareholder Opaleye Management Inc. acquired 312 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were bought at an average price of $71.99 per share, with a total value of $22,460.88. Following the completion of the transaction, the insider directly owned 490,312 shares of the company’s stock, valued at approximately $35,297,560.88. The trade was a 0.06% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at 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 Thursday, July 2nd, Opaleye Management Inc. bought 1,400 shares of Sol-Gel Technologies stock. The stock was purchased at an average cost of $71.97 per share, for a total transaction of $100,758.00.
• On Wednesday, May 13th, Opaleye Management Inc. bought 1,937 shares of Sol-Gel Technologies stock. The shares were purchased at an average price of $66.87 per share, for a total transaction of $129,527.19.
• On Tuesday, May 12th, Opaleye Management Inc. purchased 1,500 shares of Sol-Gel Technologies stock. The shares were purchased at an average cost of $67.98 per share, with a total value of $101,970.00.

Sol-Gel Technologies Price Performance

SLGL traded up $2.02 during trading on Thursday, hitting $74.01. The stock had a trading volume of 28,667 shares, compared to its average volume of 34,555. The company has a 50 day moving average price of $72.82 and a 200-day moving average price of $69.52. The firm has a market cap of $207.97 million, a price-to-earnings ratio of -217.67 and a beta of 1.12. Sol-Gel Technologies Ltd. has a one year low of $6.96 and a one year high of $97.97.

Sol-Gel Technologies (NASDAQ:SLGL) last posted its earnings results on Thursday, May 28th. The company reported ($1.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.86) by $1.55. The company had revenue of $0.11 million during the quarter, compared to the consensus estimate of $0.90 million. Sol-Gel Technologies had a negative return on equity of 3.17% and a negative net margin of 5.66%. As a group, sell-side analysts predict that Sol-Gel Technologies Ltd. will post -9.1 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on SLGL. Lifesci Capital upgraded shares of Sol-Gel Technologies to a “strong-buy” rating in a research report on Friday, May 15th. TD Cowen assumed coverage on Sol-Gel Technologies in a research note on Friday, May 29th. They issued a “buy” rating for the company. Wall Street Zen lowered Sol-Gel Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings downgraded Sol-Gel Technologies from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Thursday, June 4th. Finally, Mizuho assumed coverage on shares of Sol-Gel Technologies in a research report on Wednesday, June 24th. They set an “outperform” rating and a $285.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $197.50.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Opaleye Management Inc. boosted its stake in shares of Sol-Gel Technologies by 121.5% in 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. Affinity Asset Advisors LLC bought a new position in Sol-Gel Technologies during the first quarter worth $2,773,000. Finally, Yelin Lapidot Holdings Management Ltd. acquired a new position in Sol-Gel Technologies in the fourth quarter valued at $748,000. 26.18% of the stock is currently 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.