Armistice Capital LLC Sells 46,000 Shares of Sol-Gel Technologies Ltd. (NASDAQ:SLGL)

Armistice Capital LLC reduced its position in Sol-Gel Technologies Ltd. (NASDAQ:SLGL) by 2.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,032,000 shares of the company’s stock after selling 46,000 shares during the quarter. Armistice Capital LLC owned about 0.07% of Sol-Gel Technologies worth $1,808,000 at the end of the most recent quarter.

Wall Street Analysts Forecast Growth

Separately, Raymond James downgraded shares of Sol-Gel Technologies from a “strong-buy” rating to an “outperform” rating and cut their price target for the stock from $6.00 to $4.00 in a report on Monday, August 19th.

Sol-Gel Technologies Stock Performance

Shares of SLGL stock opened at $0.67 on Friday. Sol-Gel Technologies Ltd. has a fifty-two week low of $0.33 and a fifty-two week high of $1.99. The stock’s fifty day moving average price is $0.58 and its two-hundred day moving average price is $0.77. The company has a market cap of $18.69 million, a PE ratio of -0.81 and a beta of 1.57.

Sol-Gel Technologies (NASDAQ:SLGL) last released its quarterly earnings data on Friday, August 16th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.27. The business had revenue of $5.43 million for the quarter, compared to analyst estimates of $1.06 million. Sol-Gel Technologies had a negative return on equity of 39.95% and a negative net margin of 227.40%. On average, equities analysts predict that Sol-Gel Technologies Ltd. will post -0.57 EPS for the current fiscal year.

Sol-Gel Technologies Profile

Sol-Gel Technologies Ltd., together with its subsidiary Sol-Gel Technologies Inc, develops topical dermatological drugs for patients with severe skin conditions in Israel. The company offers Twyneo, a once-daily, non-antibiotic topical cream for the treatment of acne vulgaris; and Epsolay, a once-daily topical cream for the treatment of papulopustular (subtype II) rosacea.