Sol-Gel Technologies Ltd. (NASDAQ:SLGL) Short Interest Update

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) was the target of a large decrease in short interest in March. As of March 15th, there was short interest totalling 13,500 shares, a decrease of 56.9% from the February 29th total of 31,300 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average daily volume of 28,200 shares, the days-to-cover ratio is presently 0.5 days.

Institutional Investors Weigh In On Sol-Gel Technologies

Hedge funds have recently bought and sold shares of the company. Armistice Capital LLC bought a new stake in shares of Sol-Gel Technologies during the first quarter worth approximately $9,343,000. Yelin Lapidot Holdings Management Ltd. acquired a new position in Sol-Gel Technologies in the third quarter valued at about $374,000. Raymond James & Associates raised its holdings in shares of Sol-Gel Technologies by 25.4% during the 1st quarter. Raymond James & Associates now owns 47,492 shares of the company’s stock worth $350,000 after buying an additional 9,631 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Sol-Gel Technologies by 349.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 5,643 shares of the company’s stock valued at $28,000 after purchasing an additional 4,387 shares in the last quarter. 26.18% of the stock is currently owned by institutional investors and hedge funds.

Sol-Gel Technologies Price Performance

Shares of SLGL traded up $0.03 during midday trading on Thursday, hitting $1.01. The stock had a trading volume of 19,670 shares, compared to its average volume of 27,011. Sol-Gel Technologies has a twelve month low of $0.90 and a twelve month high of $4.39. The firm has a market cap of $28.14 million, a price-to-earnings ratio of -1.00 and a beta of 1.34. The company has a 50 day simple moving average of $1.13 and a two-hundred day simple moving average of $1.34.

Sol-Gel Technologies Company Profile

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.