Sol-Gel Technologies Ltd. (NASDAQ:SLGL – Get Free Report) major shareholder Opaleye Management Inc. acquired 35,113 shares of Sol-Gel Technologies stock in a transaction on Friday, August 28th. The stock was purchased at an average cost of $69.32 per share, with a total value of $2,434,033.16. Following the purchase, the insider directly owned 520,000 shares of the company’s stock, valued at approximately $36,046,400. This trade represents a 7.24% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Major shareholders that own more than 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 Monday, August 31st, Opaleye Management Inc. bought 5,217 shares of Sol-Gel Technologies stock. The shares were purchased at an average cost of $68.27 per share, for a total transaction of $356,164.59.
- On Friday, July 10th, Opaleye Management Inc. bought 229 shares of Sol-Gel Technologies stock. The shares were purchased at an average cost of $73.95 per share, for a total transaction of $16,934.55.
- On Wednesday, July 8th, Opaleye Management Inc. bought 300 shares of Sol-Gel Technologies stock. The stock was purchased at an average price of $73.69 per share, for a total transaction of $22,107.00.
- On Thursday, July 2nd, Opaleye Management Inc. purchased 1,400 shares of Sol-Gel Technologies stock. The stock was 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 shares were acquired at an average price of $71.99 per share, with a total value of $22,460.88.
Sol-Gel Technologies Trading Up 1.3%
SLGL opened at $70.43 on Thursday. The company’s fifty day moving average price is $78.56 and its two-hundred day moving average price is $77.09. Sol-Gel Technologies Ltd. has a 1-year low of $22.04 and a 1-year high of $97.97. The company has a market cap of $197.91 million, a price-to-earnings ratio of -12.49 and a beta of 1.12.
Institutional Trading of Sol-Gel Technologies
A number of large investors have recently added to or reduced their stakes in SLGL. Navellier & Associates Inc. purchased a new position in Sol-Gel Technologies in the second quarter valued at about $429,000. Yelin Lapidot Holdings Management Ltd. purchased a new stake in shares of Sol-Gel Technologies during the 4th quarter worth approximately $748,000. Affinity Asset Advisors LLC bought a new stake in shares of Sol-Gel Technologies in the 1st quarter worth approximately $2,773,000. Finally, Opaleye Management Inc. raised its holdings in shares of Sol-Gel Technologies by 121.5% in the 4th quarter. Opaleye Management Inc. now owns 453,739 shares of the company’s stock worth $19,121,000 after purchasing an additional 248,904 shares during the period. Hedge funds and other institutional investors own 26.18% of the company’s stock.
Analyst Upgrades and Downgrades
SLGL has been the subject of a number of recent research reports. Wall Street Zen lowered Sol-Gel Technologies from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. TD Cowen initiated coverage on Sol-Gel Technologies in a research report on Friday, May 29th. They set a “buy” rating on the stock. Mizuho assumed coverage on Sol-Gel Technologies in a report on Wednesday, June 24th. They set an “outperform” rating and a $285.00 price target for the company. Weiss Ratings cut Sol-Gel Technologies from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Thursday, June 4th. Finally, Lifesci Capital raised shares of Sol-Gel Technologies to a “strong-buy” rating in a research report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $197.50.
Read Our Latest Analysis on Sol-Gel Technologies
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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