Sol-Gel Technologies Ltd. (NASDAQ:SLGL) Short Interest Down 17.8% in March

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) was the recipient of a large drop in short interest in March. As of March 31st, there was short interest totalling 11,100 shares, a drop of 17.8% from the March 15th total of 13,500 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average trading volume of 29,900 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SLGL. Armistice Capital LLC acquired a new position in Sol-Gel Technologies during the first quarter valued at approximately $9,343,000. Yelin Lapidot Holdings Management Ltd. acquired a new position in Sol-Gel Technologies during the third quarter valued at approximately $374,000. Raymond James & Associates grew its holdings in Sol-Gel Technologies by 25.4% during 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 during the period. Finally, Tower Research Capital LLC TRC grew its holdings in Sol-Gel Technologies by 349.3% during the third quarter. Tower Research Capital LLC TRC now owns 5,643 shares of the company’s stock valued at $28,000 after purchasing an additional 4,387 shares during the period. Institutional investors and hedge funds own 26.18% of the company’s stock.

Sol-Gel Technologies Stock Performance

SLGL opened at $0.84 on Monday. Sol-Gel Technologies has a 1-year low of $0.79 and a 1-year high of $4.20. The firm has a 50-day moving average price of $1.07 and a two-hundred day moving average price of $1.22.

Sol-Gel Technologies (NASDAQ:SLGL) last posted its quarterly earnings data on Wednesday, March 13th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.01). The company had revenue of $0.45 million during the quarter, compared to analyst estimates of $0.27 million. Sol-Gel Technologies had a negative net margin of 1,331.01% and a negative return on equity of 61.52%. As a group, equities research analysts predict that Sol-Gel Technologies will post -0.67 earnings per share for the current year.

About Sol-Gel Technologies

Sol-Gel Technologies Ltd., a clinical stage specialty pharmaceutical company, focuses on identifying, developing, and commercializing topical dermatological drug products based on its proprietary microencapsulation delivery system in Israel. The company's lead product candidates include Twyneo, a novel, once-daily, non-antibiotic topical cream which has completed Phase III clinical trials for the treatment of acne vulgaris; Epsolay, a once-daily topical cream that has completed Phase III clinical trials for the treatment of papulopustular rosacea; SGT-210, which is in Phase I clinical trial for the treatment of palmoplantar keratoderma; SGT-610, a rare disease for the treatment of Gorlin Syndrome which has completed Phase II clinical trials; and Erlotinib and Tapinarof to treat other rare skin indications.