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

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) was the recipient of a significant increase in short interest during the month of September. As of September 15th, there was short interest totaling 122,206 shares, an increase of 65.0% from the August 31st total of 74,053 shares. Based on an average trading volume of 59,193 shares, the short-interest ratio is currently 2.1 days. Approximately 13.0% of the company’s stock are sold short.

Sol-Gel Technologies Stock Up 6.3%

SLGL traded up $4.52 during mid-day trading on Wednesday, reaching $76.77. 28,823 shares of the company traded hands, compared to its average volume of 41,361. The company’s fifty day moving average price is $74.51 and its 200-day moving average price is $74.61. The stock has a market capitalization of $215.71 million, a P/E ratio of -13.63 and a beta of 1.12. Sol-Gel Technologies has a 52-week low of $27.00 and a 52-week high of $97.97.

Sol-Gel Technologies (NASDAQ:SLGL) last posted its earnings results on Friday, August 21st. The company reported ($1.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.36) by $1.23. The company had revenue of $0.59 million for 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%. As a group, sell-side analysts forecast that Sol-Gel Technologies will post -4.95 earnings per share for the current fiscal year.

Insider Activity at Sol-Gel Technologies

In related news, major shareholder Opaleye Management Inc. purchased 1,493 shares of Sol-Gel Technologies stock in a transaction dated Friday, September 11th. The stock was purchased at an average cost of $65.94 per share, for a total transaction of $98,448.42. Following the completion of the acquisition, the insider directly owned 540,000 shares of the company’s stock, valued at $35,607,600. The trade was a 0.28% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders acquired 55,359 shares of company stock valued at $3,824,539 over the last 90 days. Corporate insiders own 66.51% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Sol-Gel Technologies stock. Affinity Asset Advisors LLC acquired a new stake in shares of Sol-Gel Technologies Ltd. (NASDAQ:SLGL) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 35,000 shares of the company’s stock, valued at approximately $2,773,000. Affinity Asset Advisors LLC owned 1.25% of Sol-Gel Technologies at the end of the most recent reporting period. Institutional investors own 26.18% of the company’s stock.

Analyst Ratings Changes

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

About Sol-Gel Technologies

Sol-Gel Technologies Ltd. is an Israeli specialty pharmaceutical company focused on developing topical dermatological treatments. The company uses proprietary microencapsulation technology designed to improve the delivery, stability, and tolerability of active pharmaceutical ingredients applied to the skin.

Sol-Gel’s products include TWYNEO Cream, a topical combination of tretinoin and benzoyl peroxide for acne, and EPSOLAY Cream, a microencapsulated benzoyl peroxide treatment for inflammatory lesions associated with rosacea.