Opaleye Management Inc. Acquires 300 Shares of Sol-Gel Technologies (NASDAQ:SLGL) Stock

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) major shareholder Opaleye Management Inc. purchased 300 shares of the company’s stock in a transaction dated Wednesday, July 8th. The stock was bought at an average price of $73.69 per share, with a total value of $22,107.00. Following the completion of the transaction, the insider directly owned 492,012 shares of the company’s stock, valued at approximately $36,256,364.28. This represents a 0.06% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Friday, July 10th, Opaleye Management Inc. acquired 229 shares of Sol-Gel Technologies stock. The shares were bought at an average cost of $73.95 per share, for a total transaction of $16,934.55.
• On Thursday, July 2nd, Opaleye Management Inc. bought 1,400 shares of Sol-Gel Technologies stock. The stock was bought at an average price of $71.97 per share, with a total value of $100,758.00.
• On Wednesday, July 1st, Opaleye Management Inc. purchased 312 shares of Sol-Gel Technologies stock. The shares were bought at an average price of $71.99 per share, for a total transaction of $22,460.88.
• On Wednesday, May 13th, Opaleye Management Inc. purchased 1,937 shares of Sol-Gel Technologies stock. The shares were purchased at an average cost of $66.87 per share, for a total transaction of $129,527.19.
• On Tuesday, May 12th, Opaleye Management Inc. acquired 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 Trading Down 3.2%

SLGL stock traded down $2.41 during trading on Friday, reaching $73.95. 54,150 shares of the stock were exchanged, compared to its average volume of 26,060. The business has a 50 day moving average price of $73.01 and a 200-day moving average price of $70.97. Sol-Gel Technologies Ltd. has a 1 year low of $7.62 and a 1 year high of $97.97. The firm has a market capitalization of $207.80 million, a price-to-earnings ratio of -217.49 and a beta of 1.12.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SLGL. Yelin Lapidot Holdings Management Ltd. acquired a new stake in Sol-Gel Technologies in the 4th quarter valued at about $748,000. Opaleye Management Inc. raised its holdings in Sol-Gel Technologies by 121.5% in the fourth 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. Finally, Affinity Asset Advisors LLC purchased a new position in Sol-Gel Technologies in the first quarter worth approximately $2,773,000. 26.18% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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.