Key Points
- Opaleye Management increased its Sol-Gel Technologies stake by buying 1,493 shares at $65.94 each, spending $98,448.42. The purchase raised its direct holdings to 540,000 shares, valued at about $35.6 million.
- Opaleye has made multiple additional purchases in recent weeks, including 35,113 shares bought for approximately $2.43 million on August 28, indicating sustained buying activity by the major shareholder.
- Sol-Gel shares opened at $65.18, well below their 52-week high of $97.97, while analysts maintained a consensus “Moderate Buy” rating with a $197.50 price target. The company nevertheless remains unprofitable, reporting a quarterly loss of $1.13 per share and a negative net margin.
Sol-Gel Technologies Ltd. (NASDAQ:SLGL - Get Free Report) major shareholder Opaleye Management Inc. bought 1,493 shares of the stock in a transaction on Friday, September 11th. The shares were bought at an average price of $65.94 per share, for a total transaction of $98,448.42. Following the purchase, the insider directly owned 540,000 shares in the company, valued at approximately $35,607,600. This trade represents a 0.28% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Major 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 Thursday, September 10th, Opaleye Management Inc. purchased 1,631 shares of Sol-Gel Technologies stock. The shares were bought at an average cost of $66.80 per share, for a total transaction of $108,950.80.
- On Wednesday, September 9th, Opaleye Management Inc. purchased 3,097 shares of Sol-Gel Technologies stock. The stock was bought at an average price of $68.70 per share, with a total value of $212,763.90.
- On Tuesday, September 8th, Opaleye Management Inc. acquired 3,861 shares of Sol-Gel Technologies stock. The shares were bought at an average cost of $68.82 per share, with a total value of $265,714.02.
- On Friday, September 4th, Opaleye Management Inc. bought 3,018 shares of Sol-Gel Technologies stock. The stock was bought at an average cost of $69.14 per share, with a total value of $208,664.52.
- On Monday, August 31st, Opaleye Management Inc. bought 5,217 shares of Sol-Gel Technologies stock. The shares were bought at an average price of $68.27 per share, with a total value of $356,164.59.
- On Friday, August 28th, Opaleye Management Inc. purchased 35,113 shares of Sol-Gel Technologies stock. The shares were purchased at an average cost of $69.32 per share, for a total transaction of $2,434,033.16.
- On Friday, July 10th, Opaleye Management Inc. purchased 229 shares of Sol-Gel Technologies stock. The shares were purchased at an average cost of $73.95 per share, for a total transaction of $16,934.55.
- On Wednesday, July 8th, Opaleye Management Inc. purchased 300 shares of Sol-Gel Technologies stock. The stock was 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. acquired 1,400 shares of Sol-Gel Technologies stock. The stock was purchased at an average cost of $71.97 per share, with a total value of $100,758.00.
- On Wednesday, July 1st, Opaleye Management Inc. acquired 312 shares of Sol-Gel Technologies stock. The shares were purchased at an average price of $71.99 per share, with a total value of $22,460.88.
Sol-Gel Technologies Stock Performance
Shares of NASDAQ:SLGL opened at $65.18 on Tuesday. The stock has a market capitalization of $183.16 million, a price-to-earnings ratio of -11.56 and a beta of 1.12. The stock's 50-day simple moving average is $77.70 and its two-hundred day simple moving average is $76.54. Sol-Gel Technologies Ltd. has a 52-week low of $23.15 and a 52-week high of $97.97.
Sol-Gel Technologies (NASDAQ:SLGL - Get Free Report) last released its quarterly earnings results on Friday, August 21st. The company reported ($1.13) EPS 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 analyst estimates of $0.07 million. Sol-Gel Technologies had a negative net margin of 910.14% and a negative return on equity of 44.05%. As a group, equities analysts forecast that Sol-Gel Technologies Ltd. will post -6.06 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on the stock. TD Cowen assumed coverage on shares of Sol-Gel Technologies in a research note on Friday, May 29th. They set a "buy" rating on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Sol-Gel Technologies in a research note on Tuesday, September 1st. HC Wainwright reaffirmed a "buy" rating and issued a $110.00 target price on shares of Sol-Gel Technologies in a report on Monday, July 20th. Finally, Mizuho assumed coverage on Sol-Gel Technologies in a report on Wednesday, June 24th. They set an "outperform" rating and a $285.00 price target for the company. One investment 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $197.50.
Check Out Our Latest Analysis on Sol-Gel Technologies
Hedge Funds Weigh In On Sol-Gel Technologies
A hedge fund recently bought a new position in Sol-Gel Technologies stock. Affinity Asset Advisors LLC acquired a new position in Sol-Gel Technologies Ltd. (NASDAQ:SLGL - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 35,000 shares of the company's stock, valued at approximately $2,773,000. Affinity Asset Advisors LLC owned approximately 1.25% of Sol-Gel Technologies at the end of the most recent reporting period. 26.18% of the stock is currently owned by hedge funds and other institutional investors.
Sol-Gel Technologies Company Profile
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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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