Sol-Gel Technologies Ltd. (NASDAQ:SLGL – Get Free Report) major shareholder Opaleye Management Inc. purchased 1,400 shares of Sol-Gel Technologies stock in a transaction dated Thursday, July 2nd. The stock was bought at an average price of $71.97 per share, for a total transaction of $100,758.00. Following the completion of the purchase, the insider owned 491,712 shares in the company, valued at $35,388,512.64. This represents a 0.29% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Opaleye Management Inc. also recently made the following trade(s):
- On Wednesday, July 1st, Opaleye Management Inc. acquired 312 shares of Sol-Gel Technologies stock. The shares were bought at an average price of $71.99 per share, with a total value of $22,460.88.
- On Wednesday, May 13th, Opaleye Management Inc. acquired 1,937 shares of Sol-Gel Technologies stock. The shares were bought at an average price of $66.87 per share, with a total value of $129,527.19.
- On Tuesday, May 12th, Opaleye Management Inc. acquired 1,500 shares of Sol-Gel Technologies stock. The stock was bought at an average cost of $67.98 per share, with a total value of $101,970.00.
Sol-Gel Technologies Trading Up 2.8%
Sol-Gel Technologies stock traded up $2.02 during mid-day trading on Thursday, reaching $74.01. The company had a trading volume of 28,667 shares, compared to its average volume of 34,555. The business has a fifty day simple moving average of $72.82 and a 200 day simple moving average of $69.52. The company has a market cap of $207.97 million, a P/E ratio of -217.67 and a beta of 1.12. Sol-Gel Technologies Ltd. has a fifty-two week low of $6.96 and a fifty-two week high of $97.97.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on SLGL. TD Cowen started coverage on shares of Sol-Gel Technologies in a report on Friday, May 29th. They set a “buy” rating on the stock. Wall Street Zen downgraded shares of Sol-Gel Technologies from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Mizuho began coverage on Sol-Gel Technologies in a research note on Wednesday, June 24th. They issued an “outperform” rating and a $285.00 target price on the stock. Weiss Ratings lowered Sol-Gel Technologies from a “sell (d+)” rating to a “sell (d-)” rating in a report on Thursday, June 4th. Finally, Lifesci Capital upgraded Sol-Gel Technologies to a “strong-buy” rating in a report on Friday, May 15th. 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’s stock. Based on data from MarketBeat.com, Sol-Gel Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $197.50.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Yelin Lapidot Holdings Management Ltd. bought a new stake in shares of Sol-Gel Technologies in the 4th quarter worth approximately $748,000. Opaleye Management Inc. increased its position 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 buying an additional 248,904 shares during the last quarter. Finally, Affinity Asset Advisors LLC purchased a new stake in Sol-Gel Technologies in the first quarter worth $2,773,000. 26.18% of the stock is 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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