Affinity Asset Advisors LLC Acquires New Position in Sol-Gel Technologies Ltd. $SLGL

Affinity Asset Advisors LLC acquired a new stake in shares of Sol-Gel Technologies Ltd. (NASDAQ:SLGL) in the first quarter, HoldingsChannel.com reports. The firm acquired 35,000 shares of the company’s stock, valued at approximately $2,773,000.

Separately, Yelin Lapidot Holdings Management Ltd. purchased a new stake in shares of Sol-Gel Technologies during the fourth quarter valued at approximately $748,000. Institutional investors own 26.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on SLGL shares. TD Cowen initiated coverage on shares of Sol-Gel Technologies in a report on Friday, May 29th. They issued a “buy” rating for the company. Mizuho began 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. HC Wainwright reissued a “buy” rating and issued a $110.00 target price on shares of Sol-Gel Technologies in a report on Monday, July 20th. Weiss Ratings cut Sol-Gel Technologies from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Thursday, June 4th. Finally, Lifesci Capital upgraded Sol-Gel Technologies to a “strong-buy” rating in a report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Sol-Gel Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $197.50.

Sol-Gel Technologies Trading Up 1.8%

SLGL opened at $81.96 on Friday. The company’s 50 day moving average is $74.88 and its 200 day moving average is $73.62. The company has a market cap of $230.31 million, a price-to-earnings ratio of -241.05 and a beta of 1.12. Sol-Gel Technologies Ltd. has a 12-month low of $10.48 and a 12-month high of $97.97.

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

Insider Activity

In other Sol-Gel Technologies news, major shareholder Opaleye Management Inc. acquired 1,400 shares of the business’s stock in a transaction dated Thursday, July 2nd. The stock was purchased at an average price of $71.97 per share, with a total value of $100,758.00. Following the transaction, the insider directly owned 491,712 shares in the company, valued at approximately $35,388,512.64. The trade was a 0.29% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders have acquired 5,678 shares of company stock worth $393,758. Insiders own 66.51% 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.