Insider Buying: Sol-Gel Technologies (NASDAQ:SLGL) Major Shareholder Purchases $265,714.02 in Stock

by · The Markets Daily

Sol-Gel Technologies Ltd. (NASDAQ:SLGL – Get Free Report) major shareholder Opaleye Management Inc. bought 3,861 shares of the business’s stock in a transaction that occurred on Tuesday, September 8th. The shares were bought at an average cost of $68.82 per share, with a total value of $265,714.02. Following the completion of the purchase, the insider directly owned 533,779 shares of the company’s stock, valued at $36,734,670.78. This represents a 0.73% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Large 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, 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, for a total transaction of $212,763.90.
  • On Friday, September 4th, Opaleye Management Inc. acquired 3,018 shares of Sol-Gel Technologies stock. The shares were 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. acquired 5,217 shares of Sol-Gel Technologies stock. The shares were purchased at an average price 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 stock was 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. bought 229 shares of Sol-Gel Technologies stock. The stock was 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. bought 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. purchased 1,400 shares of Sol-Gel Technologies stock. The shares were 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. purchased 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 Price Performance

NASDAQ:SLGL opened at $65.94 on Friday. The company has a market cap of $185.29 million, a price-to-earnings ratio of -11.69 and a beta of 1.12. Sol-Gel Technologies Ltd. has a 1 year low of $23.15 and a 1 year high of $97.97. The stock’s 50 day simple moving average is $77.88 and its two-hundred day simple moving average is $76.73.

Sol-Gel Technologies (NASDAQ:SLGL – Get Free Report) last posted its earnings results on Friday, August 21st. The company reported ($1.13) EPS for the quarter, beating analysts’ consensus estimates of ($2.36) by $1.23. Sol-Gel Technologies had a negative return on equity of 44.05% and a negative net margin of 910.14%.The firm had revenue of $0.59 million during the quarter, compared to the consensus estimate of $0.07 million. As a group, analysts anticipate that Sol-Gel Technologies Ltd. will post -6.06 EPS for the current year.

Analyst Ratings Changes

SLGL has been the topic of a number of research reports. TD Cowen initiated coverage on shares of Sol-Gel Technologies in a report on Friday, May 29th. They issued a “buy” rating on the stock. Lifesci Capital raised shares of Sol-Gel Technologies to a “strong-buy” rating in a report on Friday, May 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Sol-Gel Technologies in a research report on Tuesday, September 1st. HC Wainwright reissued a “buy” rating and set a $110.00 price objective on shares of Sol-Gel Technologies in a research note on Monday, July 20th. Finally, Mizuho initiated coverage on Sol-Gel Technologies in a research note on Wednesday, June 24th. They issued an “outperform” rating and a $285.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $197.50.

View Our Latest Research Report on SLGL

Institutional Investors Weigh In On Sol-Gel Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in SLGL. Yelin Lapidot Holdings Management Ltd. purchased a new position in shares of Sol-Gel Technologies during the 4th quarter worth about $748,000. Affinity Asset Advisors LLC purchased a new stake in Sol-Gel Technologies in the 1st quarter worth about $2,773,000. Navellier & Associates Inc. purchased a new stake in Sol-Gel Technologies in the 2nd quarter worth about $429,000. Finally, 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 worth $19,121,000 after purchasing an additional 248,904 shares during the last quarter. 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.

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