Key Points
- Sol-Gel Technologies major shareholder Opaleye Management Inc. bought 1,400 shares on July 2 at an average price of $71.97, a transaction worth $100,758. After the purchase, Opaleye owned 491,712 shares valued at about $35.4 million.
- Opaleye has been adding to its SLGL position repeatedly, including purchases of 312 shares on July 1, 1,937 shares on May 13, and 1,500 shares on May 12.
- Sol-Gel shares opened at $74.01 and the company recently reported a smaller-than-expected quarterly loss of $1.31 per share, though revenue fell short of estimates. Analysts currently rate the stock a Moderate Buy with a $197.50 consensus price target.
Sol-Gel Technologies Ltd. (NASDAQ:SLGL - Get Free Report) major shareholder Opaleye Management Inc. acquired 312 shares of the firm's stock in a transaction that occurred on Wednesday, July 1st. The stock was purchased at an average cost of $71.99 per share, with a total value of $22,460.88. Following the purchase, the insider directly owned 490,312 shares in the company, valued at approximately $35,297,560.88. This trade represents a 0.06% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Large 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 Thursday, July 2nd, Opaleye Management Inc. bought 1,400 shares of Sol-Gel Technologies stock. The shares were purchased at an average cost of $71.97 per share, for a total transaction of $100,758.00.
- On Wednesday, May 13th, Opaleye Management Inc. bought 1,937 shares of Sol-Gel Technologies stock. The shares were purchased at an average cost of $66.87 per share, for a total transaction of $129,527.19.
- On Tuesday, May 12th, Opaleye Management Inc. bought 1,500 shares of Sol-Gel Technologies stock. The stock was acquired at an average price of $67.98 per share, with a total value of $101,970.00.
Sol-Gel Technologies Stock Up 2.8%
Shares of Sol-Gel Technologies stock opened at $74.01 on Friday. The stock has a market cap of $207.97 million, a PE ratio of -217.67 and a beta of 1.12. The business has a fifty day simple moving average of $72.78 and a 200-day simple moving average of $69.77. Sol-Gel Technologies Ltd. has a 12 month low of $6.96 and a 12 month high of $97.97.
Sol-Gel Technologies (NASDAQ:SLGL - Get Free Report) last issued its quarterly earnings results on Thursday, May 28th. The company reported ($1.31) earnings per share for the quarter, beating analysts' consensus estimates of ($2.86) by $1.55. The business had revenue of $0.11 million for the quarter, compared to the consensus estimate of $0.90 million. Sol-Gel Technologies had a negative return on equity of 3.17% and a negative net margin of 5.66%. Analysts expect that Sol-Gel Technologies Ltd. will post -9.1 EPS for the current fiscal year.
Hedge Funds Weigh In On Sol-Gel Technologies
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SLGL. Opaleye Management Inc. lifted its stake in Sol-Gel Technologies by 121.5% in the fourth quarter. Opaleye Management Inc. now owns 453,739 shares of the company's stock valued at $19,121,000 after acquiring an additional 248,904 shares during the last quarter. Affinity Asset Advisors LLC bought a new stake in Sol-Gel Technologies in the first quarter worth approximately $2,773,000. Finally, Yelin Lapidot Holdings Management Ltd. acquired a new position in shares of Sol-Gel Technologies during the 4th quarter worth $748,000. Institutional investors own 26.18% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on SLGL shares. TD Cowen assumed coverage on Sol-Gel Technologies in a research note on Friday, May 29th. They set a "buy" rating on the stock. Mizuho started coverage on shares of Sol-Gel Technologies in a research report on Wednesday, June 24th. They set an "outperform" rating and a $285.00 price objective on the stock. Lifesci Capital upgraded shares of Sol-Gel Technologies to a "strong-buy" rating in a research note on Friday, May 15th. Weiss Ratings lowered shares of Sol-Gel Technologies from a "sell (d+)" rating to a "sell (d-)" rating in a research note on Thursday, June 4th. Finally, Wall Street Zen downgraded shares of Sol-Gel Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, May 16th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $197.50.
Check Out Our Latest Stock Analysis on Sol-Gel Technologies
Sol-Gel Technologies Company Profile
(
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.
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