Sol-Gel Technologies (NASDAQ:SLGL) Major Shareholder Opaleye Management Inc. Buys 260 Shares

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) major shareholder Opaleye Management Inc. bought 260 shares of the stock in a transaction on Tuesday, December 23rd. The shares were acquired at an average price of $41.66 per share, with a total value of $10,831.60. Following the purchase, the insider owned 375,809 shares of the company’s stock, valued at $15,656,202.94. The trade was a 0.07% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Friday, December 26th, Opaleye Management Inc. purchased 1,626 shares of Sol-Gel Technologies stock. The stock was acquired at an average price of $41.68 per share, for a total transaction of $67,771.68.
• On Monday, December 22nd, Opaleye Management Inc. purchased 1,019 shares of Sol-Gel Technologies stock. The stock was acquired at an average cost of $41.15 per share, with a total value of $41,931.85.
• On Wednesday, December 17th, Opaleye Management Inc. acquired 2,735 shares of Sol-Gel Technologies stock. The shares were acquired at an average price of $40.37 per share, for a total transaction of $110,411.95.
• On Wednesday, December 3rd, Opaleye Management Inc. bought 2,524 shares of Sol-Gel Technologies stock. The stock was acquired at an average cost of $37.81 per share, for a total transaction of $95,432.44.
• On Monday, December 1st, Opaleye Management Inc. bought 4,340 shares of Sol-Gel Technologies stock. The stock was bought at an average price of $37.37 per share, with a total value of $162,185.80.

Sol-Gel Technologies Trading Up 6.4%

Shares of Sol-Gel Technologies stock opened at $44.54 on Tuesday. The stock has a market capitalization of $124.27 million, a price-to-earnings ratio of -13.66 and a beta of 1.35. Sol-Gel Technologies Ltd. has a twelve month low of $4.02 and a twelve month high of $52.26. The business’s 50 day simple moving average is $38.61 and its 200-day simple moving average is $26.18.

Sol-Gel Technologies (NASDAQ:SLGL) last released its quarterly earnings data on Thursday, November 20th. The company reported ($2.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.09) by ($0.04). Sol-Gel Technologies had a negative net margin of 47.37% and a negative return on equity of 33.61%. The company had revenue of $0.40 million for the quarter, compared to analyst estimates of $0.30 million. Sell-side analysts predict that Sol-Gel Technologies Ltd. will post -0.28 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on SLGL shares. HC Wainwright reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Sol-Gel Technologies in a report on Monday, December 22nd. Weiss Ratings restated a “hold (c)” rating on shares of Sol-Gel Technologies in a research note on Monday, December 22nd. Zacks Research raised Sol-Gel Technologies to a “hold” rating in a report on Tuesday, October 28th. Finally, Wall Street Zen lowered Sol-Gel Technologies from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Sol-Gel Technologies currently has a consensus rating of “Hold” and an average price target of $50.00.

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.