Sol-Gel Technologies (NASDAQ:SLGL) Stock Price Up 1.2%

Sol-Gel Technologies Ltd. (NASDAQ:SLGL – Get Rating)’s stock price rose 1.2% during trading on Tuesday . The stock traded as high as $4.22 and last traded at $4.22. Approximately 623 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 9,441 shares. The stock had previously closed at $4.17.

Wall Street Analyst Weigh In

SLGL has been the topic of a number of research analyst reports. HC Wainwright reiterated a “buy” rating and set a $19.00 price objective on shares of Sol-Gel Technologies in a research note on Wednesday, February 1st. Raymond James reduced their target price on shares of Sol-Gel Technologies from $16.00 to $13.00 and set a “strong-buy” rating for the company in a report on Friday, November 11th.

Sol-Gel Technologies Trading Up 1.2 %

The stock has a market cap of $97.60 million, a P/E ratio of 20.10 and a beta of 1.32. The firm’s fifty day moving average is $4.67 and its 200 day moving average is $4.94.

Hedge Funds Weigh In On Sol-Gel Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SLGL. Tower Research Capital LLC TRC raised its stake in shares of Sol-Gel Technologies by 349.3% in the third quarter. Tower Research Capital LLC TRC now owns 5,643 shares of the company’s stock worth $28,000 after acquiring an additional 4,387 shares during the last quarter. Raymond James & Associates increased its stake in Sol-Gel Technologies by 25.4% in the first quarter. Raymond James & Associates now owns 47,492 shares of the company’s stock valued at $350,000 after purchasing an additional 9,631 shares in the last quarter. Finally, MYDA Advisors LLC bought a new stake in Sol-Gel Technologies in the third quarter valued at approximately $353,000. 25.09% of the stock is currently owned by institutional investors and hedge funds.

About Sol-Gel Technologies

(Get Rating)

Sol-Gel Technologies Ltd. is a clinical-stage dermatology company, which engages in the identification, development, and commercialization of topical dermatological drug products for the treatment of skin diseases. Its products include VERED, TWIN, and SIRS-T. The company was founded by David Avnir and Alon Seri-Levy on October 28, 1997 and is headquartered in Ness Ziona, Israel.