Opaleye Management Inc. Acquires 35,169 Shares of Sol-Gel Technologies (NASDAQ:SLGL) Stock

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) major shareholder Opaleye Management Inc. acquired 35,169 shares of Sol-Gel Technologies stock in a transaction that occurred on Tuesday, December 30th. The stock was acquired at an average price of $41.99 per share, with a total value of $1,476,746.31. Following the completion of the purchase, the insider directly owned 421,242 shares in the company, valued at $17,687,951.58. This represents a 9.11% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 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 Wednesday, December 31st, Opaleye Management Inc. bought 22,497 shares of Sol-Gel Technologies stock. The shares were bought at an average price of $41.99 per share, for a total transaction of $944,649.03.
• On Monday, December 29th, Opaleye Management Inc. purchased 8,638 shares of Sol-Gel Technologies stock. The stock was bought at an average cost of $41.85 per share, with a total value of $361,500.30.
• On Friday, December 26th, Opaleye Management Inc. purchased 1,626 shares of Sol-Gel Technologies stock. The stock was bought at an average price 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 shares were bought at an average cost of $41.66 per share, for a total transaction of $10,831.60.
• On Monday, December 22nd, Opaleye Management Inc. bought 1,019 shares of Sol-Gel Technologies stock. The stock was bought at an average price of $41.15 per share, with a total value of $41,931.85.
• On Wednesday, December 17th, Opaleye Management Inc. bought 2,735 shares of Sol-Gel Technologies stock. The shares were bought at an average cost of $40.37 per share, with a total value of $110,411.95.
• On Wednesday, December 3rd, Opaleye Management Inc. purchased 2,524 shares of Sol-Gel Technologies stock. The shares were bought at an average price of $37.81 per share, for a total transaction of $95,432.44.
• On Monday, December 1st, Opaleye Management Inc. purchased 4,340 shares of Sol-Gel Technologies stock. The stock was purchased at an average cost of $37.37 per share, for a total transaction of $162,185.80.

Sol-Gel Technologies Trading Down 0.8%

Shares of NASDAQ:SLGL opened at $42.14 on Friday. The company has a 50 day moving average of $38.75 and a 200 day moving average of $26.64. The stock has a market cap of $117.57 million, a P/E ratio of -12.93 and a beta of 1.35. 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 posted its earnings results on Thursday, November 20th. The company reported ($2.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.09) by ($0.04). The firm had revenue of $0.40 million during the quarter, compared to analysts’ expectations of $0.30 million. Sol-Gel Technologies had a negative return on equity of 33.61% and a negative net margin of 47.37%. On average, equities analysts forecast that Sol-Gel Technologies Ltd. will post -0.28 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Zacks Research upgraded Sol-Gel Technologies to a “hold” rating in a research note on Tuesday, October 28th. HC Wainwright reissued a “buy” rating and set a $50.00 price objective on shares of Sol-Gel Technologies in a report on Monday, December 22nd. Wall Street Zen cut shares of Sol-Gel Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Sol-Gel Technologies in a research report on Monday. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Sol-Gel Technologies currently has a consensus rating of “Hold” and a consensus target price 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.