Insider Buying: Sol-Gel Technologies (NASDAQ:SLGL) Major Shareholder Acquires $100,758.00 in Stock

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) major shareholder Opaleye Management Inc. bought 1,400 shares of the stock in a transaction on Thursday, July 2nd. The shares were acquired at an average cost of $71.97 per share, with a total value of $100,758.00. Following the acquisition, the insider directly owned 491,712 shares in the company, valued at approximately $35,388,512.64. This trade represents a 0.29% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, July 1st, Opaleye Management Inc. bought 312 shares of Sol-Gel Technologies stock. The shares were acquired at an average price of $71.99 per share, with a total value of $22,460.88.
• On Wednesday, May 13th, Opaleye Management Inc. purchased 1,937 shares of Sol-Gel Technologies stock. The stock was bought at an average cost 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 stock was bought at an average price of $67.98 per share, for a total transaction of $101,970.00.

Sol-Gel Technologies Price Performance

Shares of Sol-Gel Technologies stock opened at $74.01 on Friday. Sol-Gel Technologies Ltd. has a 12 month low of $6.96 and a 12 month high of $97.97. The business has a fifty day simple moving average of $72.79 and a 200 day simple moving average of $69.80. The stock has a market cap of $207.97 million, a PE ratio of -217.67 and a beta of 1.12.

Sol-Gel Technologies (NASDAQ:SLGL) last released its earnings results on Thursday, May 28th. The company reported ($1.31) earnings per share for the quarter, beating the consensus estimate of ($2.86) by $1.55. Sol-Gel Technologies had a negative return on equity of 3.17% and a negative net margin of 5.66%.The firm had revenue of $0.11 million for the quarter, compared to analyst estimates of $0.90 million. Analysts expect that Sol-Gel Technologies Ltd. will post -9.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Institutional Trading of Sol-Gel Technologies

Large investors have recently bought and sold shares of the business. Yelin Lapidot Holdings Management Ltd. bought a new position in Sol-Gel Technologies in the fourth quarter valued at approximately $748,000. Affinity Asset Advisors LLC acquired a new stake in shares of Sol-Gel Technologies during the first quarter worth $2,773,000. Finally, Opaleye Management Inc. lifted its position in 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 acquiring an additional 248,904 shares in the last quarter. 26.18% of the stock is 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.