Key Points
- Opaleye Management increased its Sol-Gel Technologies position by buying 3,018 shares at an average $69.14, worth approximately $208,665. The major shareholder now owns 529,918 shares valued at about $36.6 million and has made several additional purchases recently.
- Sol-Gel Technologies shares opened at $69.18, down 0.3%, with a market capitalization of approximately $194.4 million. The stock has traded between $23.13 and $97.97 over the past year.
- The company reported quarterly EPS of negative $1.13, beating the consensus estimate of negative $2.36, while revenue of $0.59 million exceeded the $0.07 million estimate. Analysts collectively rate the stock “Moderate Buy,” with a consensus price target of $197.50.
Sol-Gel Technologies Ltd. (NASDAQ:SLGL - Get Free Report) major shareholder Opaleye Management Inc. bought 3,018 shares of the company's stock in a transaction on Friday, September 4th. The stock was bought at an average cost of $69.14 per share, with a total value of $208,664.52. Following the completion of the acquisition, the insider owned 529,918 shares of the company's stock, valued at $36,638,530.52. This represents a 0.57% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Large shareholders that own 10% or more 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, September 9th, Opaleye Management Inc. purchased 3,097 shares of Sol-Gel Technologies stock. The shares were purchased at an average cost of $68.70 per share, for a total transaction of $212,763.90.
- On Tuesday, September 8th, Opaleye Management Inc. purchased 3,861 shares of Sol-Gel Technologies stock. The stock was purchased at an average price of $68.82 per share, for a total transaction of $265,714.02.
- On Monday, August 31st, Opaleye Management Inc. acquired 5,217 shares of Sol-Gel Technologies stock. The stock was purchased at an average cost of $68.27 per share, with a total value of $356,164.59.
- On Friday, August 28th, Opaleye Management Inc. bought 35,113 shares of Sol-Gel Technologies stock. The shares were purchased at an average price of $69.32 per share, for a total transaction of $2,434,033.16.
- On Friday, July 10th, Opaleye Management Inc. bought 229 shares of Sol-Gel Technologies stock. The shares were purchased at an average price of $73.95 per share, for a total transaction of $16,934.55.
- On Wednesday, July 8th, Opaleye Management Inc. bought 300 shares of Sol-Gel Technologies stock. The stock was purchased at an average cost of $73.69 per share, for a total transaction of $22,107.00.
- On Thursday, July 2nd, Opaleye Management Inc. purchased 1,400 shares of Sol-Gel Technologies stock. The stock was purchased at an average price of $71.97 per share, with a total value of $100,758.00.
- On Wednesday, July 1st, Opaleye Management Inc. purchased 312 shares of Sol-Gel Technologies stock. The shares were purchased at an average cost of $71.99 per share, with a total value of $22,460.88.
Sol-Gel Technologies Stock Down 0.3%
Sol-Gel Technologies stock opened at $69.18 on Thursday. The firm has a market capitalization of $194.40 million, a PE ratio of -12.27 and a beta of 1.12. Sol-Gel Technologies Ltd. has a 52 week low of $23.13 and a 52 week high of $97.97. The firm's 50-day simple moving average is $78.18 and its 200 day simple moving average is $76.93.
Sol-Gel Technologies (NASDAQ:SLGL - Get Free Report) last posted its earnings results on Friday, August 21st. The company reported ($1.13) earnings per share for the quarter, beating the consensus estimate of ($2.36) by $1.23. The firm had revenue of $0.59 million during the quarter, compared to the consensus estimate of $0.07 million. Sol-Gel Technologies had a negative net margin of 910.14% and a negative return on equity of 44.05%. On average, research analysts expect that Sol-Gel Technologies Ltd. will post -8.38 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on SLGL shares. Lifesci Capital upgraded Sol-Gel Technologies to a "strong-buy" rating in a research report on Friday, May 15th. Wall Street Zen downgraded Sol-Gel Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, May 16th. HC Wainwright reissued a "buy" rating and set a $110.00 price target on shares of Sol-Gel Technologies in a research report on Monday, July 20th. Mizuho started coverage on Sol-Gel Technologies in a report on Wednesday, June 24th. They issued an "outperform" rating and a $285.00 price target for the company. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Sol-Gel Technologies in a research report on Tuesday, September 1st. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $197.50.
Read Our Latest Research Report on Sol-Gel Technologies
Institutional Trading of Sol-Gel Technologies
Several hedge funds and other institutional investors have recently bought and sold shares of SLGL. Yelin Lapidot Holdings Management Ltd. acquired a new position in Sol-Gel Technologies in the 4th quarter valued at $748,000. Affinity Asset Advisors LLC acquired a new stake in shares of Sol-Gel Technologies during the first quarter worth $2,773,000. Navellier & Associates Inc. acquired a new stake in shares of Sol-Gel Technologies during the second quarter worth $429,000. Finally, Opaleye Management Inc. grew its position in shares of 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 purchasing an additional 248,904 shares during the period. 26.18% of the stock is owned by hedge funds and other 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.
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