Key Points
- Opaleye Management Inc., a major shareholder in Sol-Gel Technologies, bought 1,500 shares on May 12 at an average price of $67.98, increasing its stake slightly to 486,500 shares.
- Opaleye also made another purchase the next day, buying 1,937 shares at an average price of $66.87, signaling continued insider buying activity.
- Sol-Gel Technologies recently reported a weak quarter, with EPS of -$1.07 versus expectations of $0.39 and revenue of just $0.70 million, while analysts currently maintain an average Hold rating with a $110 price target.
Sol-Gel Technologies Ltd. (NASDAQ:SLGL - Get Free Report) major shareholder Opaleye Management Inc. purchased 1,500 shares of the firm's stock in a transaction on Tuesday, May 12th. The stock was acquired at an average price of $67.98 per share, with a total value of $101,970.00. Following the completion of the transaction, the insider owned 486,500 shares in the company, valued at approximately $33,072,270. This trade represents a 0.31% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% 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 Wednesday, May 13th, Opaleye Management Inc. purchased 1,937 shares of Sol-Gel Technologies stock. The stock was acquired at an average price of $66.87 per share, with a total value of $129,527.19.
Sol-Gel Technologies Stock Performance
Shares of NASDAQ SLGL opened at $68.68 on Friday. Sol-Gel Technologies Ltd. has a 52-week low of $6.80 and a 52-week high of $97.97. The firm has a 50 day moving average price of $76.30 and a two-hundred day moving average price of $60.92. The stock has a market cap of $192.99 million, a P/E ratio of -30.80 and a beta of 1.16.
Sol-Gel Technologies (NASDAQ:SLGL - Get Free Report) last announced its quarterly earnings results on Thursday, March 19th. The company reported ($1.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($1.46). Sol-Gel Technologies had a negative net margin of 31.60% and a negative return on equity of 24.29%. The business had revenue of $0.70 million during the quarter, compared to analyst estimates of $6.50 million.
Analyst Upgrades and Downgrades
A number of research firms have recently commented on SLGL. HC Wainwright reaffirmed a "buy" rating and issued a $110.00 price objective (up from $50.00) on shares of Sol-Gel Technologies in a research note on Tuesday, January 20th. Weiss Ratings raised shares of Sol-Gel Technologies from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday. Finally, Wall Street Zen raised shares of Sol-Gel Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, March 21st. One investment 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, the company has an average rating of "Hold" and an average price target of $110.00.
View Our Latest Stock Report on SLGL
Institutional Investors Weigh In On Sol-Gel Technologies
A number of institutional investors have recently modified their holdings of SLGL. Yelin Lapidot Holdings Management Ltd. bought a new stake in shares of Sol-Gel Technologies in the 4th quarter valued at $748,000. Opaleye Management Inc. boosted its stake in Sol-Gel Technologies by 121.5% during the fourth quarter. Opaleye Management Inc. now owns 453,739 shares of the company's stock worth $19,121,000 after acquiring an additional 248,904 shares in the last quarter. Finally, Affinity Asset Advisors LLC bought a new position in Sol-Gel Technologies during the first quarter worth $2,773,000. 26.18% of the stock is owned by institutional investors.
About Sol-Gel Technologies
(
Get Free Report)
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.
Further Reading
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