Opaleye Management Inc. Buys 1,493 Shares of Sol-Gel Technologies (NASDAQ:SLGL) Stock

Key Points

• Opaleye Management increased its Sol-Gel Technologies stake by purchasing 1,493 shares at $65.94 each, bringing its holdings to 540,000 shares valued at approximately $35.6 million. The firm has made several additional purchases in recent weeks.
• Sol-Gel Technologies shares fell 1.2% to $65.18, with the company carrying a $183.2 million market capitalization and reporting a quarterly loss of $1.13 per share despite exceeding analysts’ estimates.
• Analyst sentiment remains mixed but leans positive: the stock has a “Moderate Buy” consensus rating and a $197.50 average price target, while institutional investors own 26.18% of the company.

Sol-Gel Technologies Ltd. (NASDAQ:SLGL - Get Free Report) major shareholder Opaleye Management Inc. purchased 1,493 shares of the business's 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 acquisition, the insider owned 540,000 shares in the company, valued at $35,607,600. This trade represents a 0.28% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major 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 Thursday, September 10th, Opaleye Management Inc. bought 1,631 shares of Sol-Gel Technologies stock. The shares were purchased at an average price of $66.80 per share, for a total transaction of $108,950.80.
• On Wednesday, September 9th, Opaleye Management Inc. bought 3,097 shares of Sol-Gel Technologies stock. The stock was 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 shares were purchased at an average price of $68.82 per share, with a total value of $265,714.02.
• On Friday, September 4th, Opaleye Management Inc. acquired 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. acquired 5,217 shares of Sol-Gel Technologies stock. The stock was purchased at an average price of $68.27 per share, for a total transaction 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, 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 stock was acquired at an average price 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 shares were acquired at an average cost of $73.69 per share, with a total value of $22,107.00.
• On Thursday, July 2nd, Opaleye Management Inc. acquired 1,400 shares of Sol-Gel Technologies stock. The stock was acquired at an average price of $71.97 per share, for a total transaction of $100,758.00.
• On Wednesday, July 1st, Opaleye Management Inc. bought 312 shares of Sol-Gel Technologies stock. The shares were acquired at an average price of $71.99 per share, with a total value of $22,460.88.

Sol-Gel Technologies Stock Down 1.2%

SLGL traded down $0.76 on Monday, reaching $65.18. The company's stock had a trading volume of 27,890 shares, compared to its average volume of 40,894. The company has a market capitalization of $183.16 million, a price-to-earnings ratio of -11.56 and a beta of 1.12. Sol-Gel Technologies Ltd. has a fifty-two week low of $23.15 and a fifty-two week high of $97.97. The stock has a 50 day moving average of $77.88 and a two-hundred day moving average of $76.70.

Sol-Gel Technologies (NASDAQ:SLGL - Get Free Report) last released its quarterly earnings data on Friday, August 21st. The company reported ($1.13) earnings per share for the quarter, topping analysts' consensus estimates of ($2.36) by $1.23. The company had revenue of $0.59 million for the quarter, compared to analysts' expectations 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, analysts anticipate that Sol-Gel Technologies Ltd. will post -6.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Sol-Gel Technologies

An institutional investor recently bought a new stake in Sol-Gel Technologies stock. Affinity Asset Advisors LLC acquired a new stake in shares of Sol-Gel Technologies Ltd. (NASDAQ:SLGL - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and 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 about 1.25% of Sol-Gel Technologies at the end of the most recent reporting period. 26.18% of the stock is owned by hedge funds and other institutional investors.

Sol-Gel Technologies Company 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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