Key Points
- Opaleye Management Inc., Sol-Gel Technologies’ major shareholder, bought 229 additional shares on July 10 at an average price of $73.95, bringing its direct holdings to 492,241 shares.
- The stock fell 3.2% on Friday to $73.95, with trading volume roughly doubling its average; the company now has a market cap of about $207.8 million.
- Sol-Gel recently reported a smaller-than-expected quarterly loss of ($1.31) per share, though revenue came in below estimates, while analysts currently rate the stock a Moderate Buy with a $197.50 average price target.
Sol-Gel Technologies Ltd. (NASDAQ:SLGL - Get Free Report) major shareholder Opaleye Management Inc. acquired 229 shares of the firm's stock in a transaction on Friday, July 10th. The stock was bought at an average price of $73.95 per share, with a total value of $16,934.55. Following the purchase, the insider directly owned 492,241 shares of the company's stock, valued at $36,401,221.95. This represents a 0.05% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Large shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.
Opaleye Management Inc. also recently made the following trade(s):
- On Wednesday, July 8th, Opaleye Management Inc. bought 300 shares of Sol-Gel Technologies stock. The shares were purchased at an average price of $73.69 per share, for a total transaction of $22,107.00.
- On Thursday, July 2nd, Opaleye Management Inc. bought 1,400 shares of Sol-Gel Technologies stock. The shares were purchased at an average price of $71.97 per share, for a total transaction of $100,758.00.
- On Wednesday, July 1st, Opaleye Management Inc. bought 312 shares of Sol-Gel Technologies stock. The stock was purchased at an average cost of $71.99 per share, with a total value of $22,460.88.
- On Wednesday, May 13th, Opaleye Management Inc. bought 1,937 shares of Sol-Gel Technologies stock. The stock was purchased at an average cost of $66.87 per share, with a total value of $129,527.19.
- On Tuesday, May 12th, Opaleye Management Inc. bought 1,500 shares of Sol-Gel Technologies stock. The stock was purchased at an average cost of $67.98 per share, with a total value of $101,970.00.
Sol-Gel Technologies Stock Down 3.2%
NASDAQ:SLGL traded down $2.41 during mid-day trading on Friday, reaching $73.95. 54,150 shares of the stock were exchanged, compared to its average volume of 26,060. The company has a 50 day simple moving average of $73.01 and a 200-day simple moving average of $70.97. The stock has a market capitalization of $207.80 million, a P/E ratio of -217.49 and a beta of 1.12. Sol-Gel Technologies Ltd. has a 1 year low of $7.62 and a 1 year high of $97.97.
Sol-Gel Technologies (NASDAQ:SLGL - Get Free Report) last issued its quarterly earnings data 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. Sol-Gel Technologies had a negative return on equity of 3.17% and a negative net margin of 5.66%.The company had revenue of $0.11 million during the quarter, compared to analysts' expectations of $0.90 million. As a group, research analysts predict that Sol-Gel Technologies Ltd. will post -9.1 EPS for the current year.
Analysts Set New Price Targets
Several analysts recently commented on the stock. Mizuho started coverage on shares of Sol-Gel Technologies in a research report on Wednesday, June 24th. They issued an "outperform" rating and a $285.00 price target for the company. Weiss Ratings downgraded shares of Sol-Gel Technologies from a "sell (d+)" rating to a "sell (d-)" rating in a research report on Thursday, June 4th. TD Cowen initiated coverage on shares of Sol-Gel Technologies in a research note on Friday, May 29th. They issued a "buy" rating on the stock. Wall Street Zen cut shares of Sol-Gel Technologies from a "buy" rating to a "hold" rating in a report on Saturday, May 16th. Finally, Lifesci Capital upgraded shares of Sol-Gel Technologies to a "strong-buy" rating in a research note on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Sol-Gel Technologies currently has an average rating of "Moderate Buy" and an average target price of $197.50.
Get Our Latest Stock Report on SLGL
Institutional Investors Weigh In On Sol-Gel Technologies
Large investors have recently modified their holdings of the stock. Yelin Lapidot Holdings Management Ltd. acquired a new stake in shares of Sol-Gel Technologies during the fourth quarter worth $748,000. Affinity Asset Advisors LLC purchased a new position in Sol-Gel Technologies in the 1st quarter valued at $2,773,000. Finally, Opaleye Management Inc. increased its stake in Sol-Gel Technologies by 121.5% in the 4th quarter. Opaleye Management Inc. now owns 453,739 shares of the company's stock valued at $19,121,000 after buying an additional 248,904 shares during the period. Hedge funds and other institutional investors own 26.18% of the company's stock.
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.
Further Reading
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