Affinity Asset Advisors LLC Purchases Shares of 35,000 Sol-Gel Technologies Ltd. $SLGL

Key Points

• Affinity Asset Advisors disclosed a new first-quarter stake in Sol-Gel Technologies, buying 35,000 shares worth about $2.77 million and representing roughly 1.25% of the company.
• Sol-Gel Technologies reported quarterly EPS of ($1.31), which beat analyst expectations, though revenue came in at just $0.11 million versus the much higher consensus estimate.
• Sentiment around the stock remains mixed but generally positive: several firms have issued Buy or better ratings, with a consensus target price of $197.50, while insiders continue to hold a large 66.51% of shares.

Affinity Asset Advisors LLC purchased a new stake in shares of Sol-Gel Technologies Ltd. (NASDAQ:SLGL - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The fund purchased 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.

Separately, Yelin Lapidot Holdings Management Ltd. bought a new position in Sol-Gel Technologies in the 4th quarter worth about $748,000. Institutional investors and hedge funds own 26.18% of the company's stock.

Sol-Gel Technologies Stock Up 1.8%

NASDAQ SLGL opened at $81.96 on Friday. The firm has a market capitalization of $230.31 million, a PE ratio of -241.05 and a beta of 1.12. The stock's 50 day moving average is $74.88 and its 200 day moving average is $73.62. Sol-Gel Technologies Ltd. has a twelve month low of $10.48 and a twelve month high of $97.97.

Sol-Gel Technologies (NASDAQ:SLGL - Get Free Report) last announced its quarterly earnings data on Thursday, May 28th. The company reported ($1.31) EPS for the quarter, beating the consensus estimate of ($2.86) by $1.55. The business had revenue of $0.11 million during the quarter, compared to analyst estimates of $0.90 million. Sol-Gel Technologies had a negative return on equity of 3.17% and a negative net margin of 5.66%. On average, research analysts anticipate that Sol-Gel Technologies Ltd. will post -9.1 earnings per share for the current year.

Insider Buying and Selling

In other Sol-Gel Technologies news, major shareholder Opaleye Management Inc. acquired 1,400 shares of the business's stock in a transaction on Thursday, July 2nd. The shares were acquired at an average price of $71.97 per share, for a total transaction of $100,758.00. Following the completion of the acquisition, the insider owned 491,712 shares in the company, valued at $35,388,512.64. This trade represents a 0.29% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have bought a total of 5,678 shares of company stock worth $393,758 over the last 90 days. Insiders own 66.51% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SLGL. Lifesci Capital raised shares of Sol-Gel Technologies to a "strong-buy" rating in a research note on Friday, May 15th. Mizuho assumed coverage on shares of Sol-Gel Technologies in a research note on Wednesday, June 24th. They issued an "outperform" rating and a $285.00 price target for the company. Weiss Ratings lowered shares of Sol-Gel Technologies from a "sell (d+)" rating to a "sell (d-)" rating in a report on Thursday, June 4th. TD Cowen started coverage on shares of Sol-Gel Technologies in a report on Friday, May 29th. They set a "buy" rating for the company. Finally, Wall Street Zen lowered shares of Sol-Gel Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Sol-Gel Technologies presently has an average rating of "Moderate Buy" and a consensus target price of $197.50.

Sol-Gel Technologies Profile

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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