Kingdon Capital Management L.L.C. lowered its stake in Sol-Gel Technologies Ltd. (NASDAQ:SLGL – Free Report) by 7.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 770,965 shares of the company’s stock after selling 61,835 shares during the quarter. Kingdon Capital Management L.L.C. owned approximately 3.33% of Sol-Gel Technologies worth $2,991,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Tower Research Capital LLC TRC boosted its holdings in shares of Sol-Gel Technologies by 349.3% in the third quarter. Tower Research Capital LLC TRC now owns 5,643 shares of the company’s stock worth $28,000 after buying an additional 4,387 shares during the period. Raymond James & Associates lifted its position in shares of Sol-Gel Technologies by 13.8% in the 1st quarter. Raymond James & Associates now owns 36,582 shares of the company’s stock valued at $142,000 after acquiring an additional 4,432 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its position in shares of Sol-Gel Technologies by 19.6% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 59,006 shares of the company’s stock valued at $229,000 after acquiring an additional 9,656 shares in the last quarter. Institutional investors and hedge funds own 34.10% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on the stock. HC Wainwright lowered their price objective on shares of Sol-Gel Technologies from $19.00 to $12.00 and set a “buy” rating on the stock in a research report on Monday, August 14th. Raymond James lowered their price target on Sol-Gel Technologies from $9.00 to $7.00 and set a “strong-buy” rating on the stock in a report on Friday, August 11th.
Sol-Gel Technologies Stock Performance
Shares of SLGL stock traded down $0.12 during trading on Friday, hitting $2.53. 4,187 shares of the company were exchanged, compared to its average volume of 11,804. The business’s 50-day simple moving average is $3.11 and its 200 day simple moving average is $3.46. Sol-Gel Technologies Ltd. has a twelve month low of $2.49 and a twelve month high of $6.00. The firm has a market capitalization of $58.52 million, a price-to-earnings ratio of -2.46 and a beta of 1.30.
About Sol-Gel Technologies
Sol-Gel Technologies Ltd., a clinical stage specialty pharmaceutical company, focuses on identifying, developing, and commercializing topical dermatological drug products based on its proprietary microencapsulation delivery system in Israel. The company's lead product candidates include Twyneo, a novel, once-daily, non-antibiotic topical cream which has completed Phase III clinical trials for the treatment of acne vulgaris; Epsolay, a once-daily topical cream that has completed Phase III clinical trials for the treatment of papulopustular rosacea; SGT-210, which is in Phase I clinical trial for the treatment of palmoplantar keratoderma; SGT-610, a rare disease for the treatment of Gorlin Syndrome which has completed Phase II clinical trials; and Erlotinib and Tapinarof to treat other rare skin indications.
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