Adam Levy Sells 4,000 Shares of NexGel (NASDAQ:NXGL) Stock

NexGel, Inc. (NASDAQ:NXGL) CEO Adam Levy sold 4,000 shares of NexGel stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $2.52, for a total transaction of $10,080.00. Following the transaction, the chief executive officer owned 367,692 shares of the company’s stock, valued at $926,583.84. The trade was a 1.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

NexGel Stock Up 3.8%

Shares of NexGel stock traded up $0.09 during midday trading on Friday, hitting $2.48. The company had a trading volume of 57,997 shares, compared to its average volume of 67,456. NexGel, Inc. has a 52-week low of $2.10 and a 52-week high of $5.10. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.98 and a current ratio of 1.74. The stock has a market capitalization of $20.19 million, a P/E ratio of -6.20 and a beta of 0.57. The company has a 50 day moving average of $2.47 and a 200 day moving average of $2.46.

NexGel (NASDAQ:NXGL) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). NexGel had a negative net margin of 25.02% and a negative return on equity of 49.37%. The company had revenue of $2.88 million for the quarter, compared to analysts’ expectations of $3.08 million.

Institutional Investors Weigh In On NexGel

Hedge funds have recently added to or reduced their stakes in the stock. Evernest Financial Advisors LLC grew its holdings in shares of NexGel by 25.1% in the second quarter. Evernest Financial Advisors LLC now owns 281,000 shares of the company’s stock worth $725,000 after acquiring an additional 56,334 shares during the period. Essex Investment Management Co. LLC bought a new position in NexGel in the first quarter valued at about $115,000. Flaharty Asset Management LLC purchased a new position in NexGel in the third quarter worth about $59,000. IFP Advisors Inc grew its stake in shares of NexGel by 100.0% during the 1st quarter. IFP Advisors Inc now owns 22,000 shares of the company’s stock valued at $66,000 after purchasing an additional 11,000 shares during the period. Finally, Malaga Cove Capital LLC bought a new stake in shares of NexGel during the 2nd quarter valued at about $27,000. 2.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NexGel in a report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, NexGel currently has an average rating of “Sell”.

About NexGel

NEXGEL, Inc manufactures high water content, electron beam cross-linked, and aqueous polymer hydrogels and gels. Its products are used for wound care, medical diagnostics, transdermal drug delivery, and cosmetics. The company was formerly known as AquaMed Technologies, Inc and changed its name to NEXGEL, Inc in November 2019.