Sol-Gel Technologies (NASDAQ:SLGL) Stock Price Up 5.2% – Here’s What Happened

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) shot up 5.2% during trading on Wednesday . The stock traded as high as $0.60 and last traded at $0.59. 11,111 shares were traded during mid-day trading, a decline of 96% from the average session volume of 252,685 shares. The stock had previously closed at $0.56.

Sol-Gel Technologies Stock Performance

The stock has a 50-day simple moving average of $0.65 and a two-hundred day simple moving average of $0.69. The firm has a market cap of $15.32 million, a PE ratio of -1.62 and a beta of 1.29.

Institutional Investors Weigh In On Sol-Gel Technologies

A hedge fund recently bought a new stake in Sol-Gel Technologies stock. Raymond James Financial Inc. purchased a new position in Sol-Gel Technologies Ltd. (NASDAQ:SLGL) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 108,990 shares of the company’s stock, valued at approximately $101,000. Raymond James Financial Inc. owned about 0.39% of Sol-Gel Technologies at the end of the most recent reporting period. 26.18% of the stock is owned by hedge funds and other institutional investors.

Sol-Gel Technologies Company 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.