Sol-Gel Technologies (NASDAQ:SLGL) Trading Down 39.5% – Should You Sell?

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) shares dropped 39.5% during trading on Monday . The company traded as low as $4.11 and last traded at $4.42. Approximately 186,087 shares traded hands during trading, an increase of 540% from the average daily volume of 29,083 shares. The stock had previously closed at $7.30.

Sol-Gel Technologies Stock Down 39.5 %

The stock’s 50-day moving average price is $5.72 and its 200 day moving average price is $6.68. The firm has a market cap of $123.13 million, a price-to-earnings ratio of -13.00 and a beta of 1.11.

Hedge Funds Weigh In On Sol-Gel Technologies

An institutional investor recently bought a new position in Sol-Gel Technologies stock. Raymond James Financial Inc. acquired a new stake in shares of Sol-Gel Technologies Ltd. (NASDAQ:SLGL) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 108,990 shares of the company’s stock, valued at approximately $101,000. Raymond James Financial Inc. owned 0.39% of Sol-Gel Technologies at the end of the most recent quarter. Institutional investors and hedge funds own 26.18% of the company’s stock.

Sol-Gel Technologies Company Profile

Sol-Gel Technologies Ltd., together with its subsidiary Sol-Gel Technologies Inc, develops topical dermatological drugs for patients with severe skin conditions in Israel. The company offers Twyneo, a once-daily, non-antibiotic topical cream for the treatment of acne vulgaris; and Epsolay, a once-daily topical cream for the treatment of papulopustular (subtype II) rosacea.