Opaleye Management Inc. Acquires 1,631 Shares of Sol-Gel Technologies (NASDAQ:SLGL) Stock

Key Points

• Opaleye Management increased its Sol-Gel Technologies stake by purchasing 1,631 shares at $66.80 each, bringing its holdings to 538,507 shares valued at approximately $36.0 million. The transaction followed several additional purchases in recent weeks.
• Sol-Gel shares fell 1.2% to $65.18, while the company reported a quarterly loss of $1.13 per share—better than the $2.36 analyst consensus—and revenue of $0.59 million.
• Analyst sentiment remains mixed but leans positive, with a consensus “Moderate Buy” rating and a $197.50 price target; institutional investors own 26.18% of the stock.

Sol-Gel Technologies Ltd. (NASDAQ:SLGL - Get Free Report) major shareholder Opaleye Management Inc. purchased 1,631 shares of the business's stock in a transaction on Thursday, September 10th. The stock was bought at an average cost of $66.80 per share, with a total value of $108,950.80. Following the purchase, the insider owned 538,507 shares in the company, valued at approximately $35,972,267.60. This represents a 0.30% increase in their ownership of the stock. The purchase was disclosed in a legal filing 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 transactions with the SEC.

Opaleye Management Inc. also recently made the following trade(s):

• On Friday, September 11th, Opaleye Management Inc. purchased 1,493 shares of Sol-Gel Technologies stock. The stock was bought at an average cost of $65.94 per share, for a total transaction of $98,448.42.
• On Wednesday, September 9th, Opaleye Management Inc. acquired 3,097 shares of Sol-Gel Technologies stock. The stock was acquired at an average price of $68.70 per share, with a total value of $212,763.90.
• On Tuesday, September 8th, Opaleye Management Inc. bought 3,861 shares of Sol-Gel Technologies stock. The shares were purchased at an average price of $68.82 per share, for a total transaction of $265,714.02.
• On Friday, September 4th, Opaleye Management Inc. purchased 3,018 shares of Sol-Gel Technologies stock. The stock was purchased at an average cost of $69.14 per share, for a total transaction of $208,664.52.
• On Monday, August 31st, Opaleye Management Inc. bought 5,217 shares of Sol-Gel Technologies stock. The stock was bought at an average cost of $68.27 per share, for a total transaction of $356,164.59.
• On Friday, August 28th, Opaleye Management Inc. acquired 35,113 shares of Sol-Gel Technologies stock. The shares were purchased at an average price of $69.32 per share, with a total value of $2,434,033.16.
• On Friday, July 10th, Opaleye Management Inc. purchased 229 shares of Sol-Gel Technologies stock. The shares were bought at an average cost of $73.95 per share, for a total transaction of $16,934.55.
• On Wednesday, July 8th, Opaleye Management Inc. acquired 300 shares of Sol-Gel Technologies stock. The stock was purchased at an average cost of $73.69 per share, with a total value of $22,107.00.
• On Thursday, July 2nd, Opaleye Management Inc. bought 1,400 shares of Sol-Gel Technologies stock. The shares were acquired 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 stock was bought at an average price of $71.99 per share, with a total value of $22,460.88.

Sol-Gel Technologies Trading Down 1.2%

NASDAQ SLGL traded down $0.76 on Monday, reaching $65.18. 27,890 shares of the stock were exchanged, compared to its average volume of 40,894. The firm has a market capitalization of $183.16 million, a PE ratio of -11.56 and a beta of 1.12. Sol-Gel Technologies Ltd. has a one year low of $23.15 and a one year high of $97.97. The company's 50-day simple moving average is $77.88 and its two-hundred day simple moving average is $76.70.

Sol-Gel Technologies (NASDAQ:SLGL - Get Free Report) last issued its earnings results on Friday, August 21st. The company reported ($1.13) earnings per share for the quarter, topping the consensus estimate of ($2.36) by $1.23. The company 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%. Sell-side analysts forecast that Sol-Gel Technologies Ltd. will post -6.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Mizuho started coverage on shares of Sol-Gel Technologies in a research note on Wednesday, June 24th. They set an "outperform" rating and a $285.00 price objective on the stock. TD Cowen initiated coverage on shares of Sol-Gel Technologies in a research report on Friday, May 29th. They issued a "buy" rating for the company. HC Wainwright restated a "buy" rating and issued a $110.00 target price on shares of Sol-Gel Technologies in a research note on Monday, July 20th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Sol-Gel Technologies in a research report on Tuesday, September 1st. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $197.50.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Sol-Gel Technologies stock. Navellier & Associates Inc. bought a new stake in shares of Sol-Gel Technologies Ltd. (NASDAQ:SLGL - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 5,785 shares of the company's stock, valued at approximately $429,000. Navellier & Associates Inc. owned 0.21% of Sol-Gel Technologies at the end of the most recent reporting period. 26.18% of the stock is currently owned by institutional investors.

About Sol-Gel Technologies

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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