Opaleye Management Inc. Acquires 1,019 Shares of Sol-Gel Technologies (NASDAQ:SLGL) Stock

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) major shareholder Opaleye Management Inc. bought 1,019 shares of Sol-Gel Technologies stock in a transaction dated Monday, December 22nd. The stock was acquired at an average cost of $41.15 per share, for a total transaction of $41,931.85. Following the purchase, the insider directly owned 375,549 shares in the company, valued at approximately $15,453,841.35. The trade was a 0.27% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own 10% or more 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, December 26th, Opaleye Management Inc. purchased 1,626 shares of Sol-Gel Technologies stock. The shares were acquired at an average cost of $41.68 per share, with a total value of $67,771.68.
• On Tuesday, December 23rd, Opaleye Management Inc. acquired 260 shares of Sol-Gel Technologies stock. The stock was acquired at an average cost of $41.66 per share, for a total transaction of $10,831.60.
• On Wednesday, December 17th, Opaleye Management Inc. bought 2,735 shares of Sol-Gel Technologies stock. The shares were acquired at an average cost of $40.37 per share, with a total value of $110,411.95.
• On Wednesday, December 3rd, Opaleye Management Inc. bought 2,524 shares of Sol-Gel Technologies stock. The shares were acquired at an average price of $37.81 per share, with a total value of $95,432.44.
• On Monday, December 1st, Opaleye Management Inc. purchased 4,340 shares of Sol-Gel Technologies stock. The stock was bought at an average cost of $37.37 per share, for a total transaction of $162,185.80.

Sol-Gel Technologies Stock Down 4.7%

NASDAQ:SLGL opened at $42.46 on Wednesday. The stock’s fifty day simple moving average is $38.66 and its 200-day simple moving average is $26.42. The firm has a market capitalization of $118.46 million, a P/E ratio of -13.02 and a beta of 1.36. Sol-Gel Technologies Ltd. has a 12-month low of $4.02 and a 12-month high of $52.26.

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Zacks Research upgraded shares of Sol-Gel Technologies to a “hold” rating in a report on Tuesday, October 28th. HC Wainwright reissued a “buy” rating and issued a $50.00 price target 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 report on Monday. Finally, Wall Street Zen lowered Sol-Gel Technologies from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $50.00.

About Sol-Gel Technologies

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.