Sol-Gel Technologies (NASDAQ:SLGL) Major Shareholder Purchases $129,527.19 in Stock

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) major shareholder Opaleye Management Inc. bought 1,937 shares of the business’s stock in a transaction on Wednesday, May 13th. The stock was purchased at an average cost of $66.87 per share, with a total value of $129,527.19. Following the purchase, the insider owned 488,437 shares of the company’s stock, valued at $32,661,782.19. This represents a 0.40% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Major 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 Tuesday, May 12th, Opaleye Management Inc. bought 1,500 shares of Sol-Gel Technologies stock. The stock was purchased at an average cost of $67.98 per share, with a total value of $101,970.00.

Sol-Gel Technologies Price Performance

Shares of SLGL opened at $72.72 on Friday. The firm has a market cap of $204.34 million, a P/E ratio of -32.61 and a beta of 1.16. The stock has a 50 day simple moving average of $75.99 and a two-hundred day simple moving average of $61.00. Sol-Gel Technologies Ltd. has a 1 year low of $6.80 and a 1 year high of $97.97.

Sol-Gel Technologies (NASDAQ:SLGL) last issued its earnings results on Thursday, March 19th. The company reported ($1.07) earnings per share (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 analysts’ expectations of $6.50 million. Sol-Gel Technologies had a negative return on equity of 24.29% and a negative net margin of 31.60%.

Analyst Ratings Changes

Several brokerages have issued reports on SLGL. HC Wainwright reaffirmed a “buy” rating and issued a $110.00 target price (up from $50.00) on shares of Sol-Gel Technologies in a research note on Tuesday, January 20th. Wall Street Zen lowered Sol-Gel Technologies from a “buy” rating to a “hold” rating in a research note on Saturday. Lifesci Capital raised Sol-Gel Technologies to a “strong-buy” rating in a research note on Friday. Finally, Weiss Ratings raised Sol-Gel Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $110.00.

Institutional Trading of Sol-Gel Technologies

A number of institutional investors have recently made changes to their positions in the stock. Opaleye Management Inc. boosted its stake in shares of Sol-Gel Technologies by 121.5% during the fourth 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 period. Affinity Asset Advisors LLC purchased a new stake in shares of Sol-Gel Technologies during the first quarter valued at approximately $2,773,000. Finally, Yelin Lapidot Holdings Management Ltd. purchased a new stake in shares of Sol-Gel Technologies during the fourth quarter valued at approximately $748,000. Hedge funds and other institutional investors own 26.18% of the company’s stock.

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.