Sol-Gel Technologies Ltd. (NASDAQ:SLGL – Get Free Report) major shareholder Opaleye Management Inc. acquired 300 shares of the firm’s stock in a transaction on Wednesday, July 8th. The shares were bought at an average cost of $73.69 per share, for a total transaction of $22,107.00. Following the acquisition, the insider owned 492,012 shares in the company, valued at approximately $36,256,364.28. The trade was a 0.06% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Opaleye Management Inc. also recently made the following trade(s):
- On Friday, July 10th, Opaleye Management Inc. bought 229 shares of Sol-Gel Technologies stock. The stock was bought at an average cost of $73.95 per share, with a total value of $16,934.55.
- On Thursday, July 2nd, Opaleye Management Inc. bought 1,400 shares of Sol-Gel Technologies stock. The shares were bought 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 bought at an average price of $71.99 per share, for a total transaction of $22,460.88.
- On Wednesday, May 13th, Opaleye Management Inc. purchased 1,937 shares of Sol-Gel Technologies stock. The shares were bought at an average cost of $66.87 per share, for a total transaction of $129,527.19.
- On Tuesday, May 12th, Opaleye Management Inc. purchased 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 Stock Down 3.2%
SLGL stock traded down $2.41 during trading on Friday, hitting $73.95. The company had a trading volume of 54,096 shares, compared to its average volume of 34,500. The firm has a 50-day moving average price of $72.96 and a 200-day moving average price of $70.94. Sol-Gel Technologies Ltd. has a 12 month low of $7.62 and a 12 month high of $97.97. The stock has a market cap of $207.80 million, a price-to-earnings ratio of -217.49 and a beta of 1.12.
Analyst Upgrades and Downgrades
SLGL has been the topic of several recent research reports. TD Cowen began coverage on Sol-Gel Technologies in a report on Friday, May 29th. They issued 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 research report on Saturday, May 16th. Lifesci Capital raised shares of Sol-Gel Technologies to a “strong-buy” rating in a research note on Friday, May 15th. Weiss Ratings cut shares of Sol-Gel Technologies from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Thursday, June 4th. Finally, 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 target for the company. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Sol-Gel Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $197.50.
Get Our Latest Research Report on SLGL
Institutional Investors Weigh In On Sol-Gel Technologies
A number of institutional investors have recently made changes to their positions in the stock. Yelin Lapidot Holdings Management Ltd. bought a new stake in Sol-Gel Technologies in the fourth quarter valued at about $748,000. Opaleye Management Inc. boosted its holdings in Sol-Gel Technologies by 121.5% during 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 bought a new position in Sol-Gel Technologies during the first quarter worth about $2,773,000. 26.18% of the stock is owned by institutional investors and hedge funds.
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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