Short Interest in Sol-Gel Technologies Ltd. (NASDAQ:SLGL) Drops By 64.2%

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) was the target of a large decline in short interest in February. As of February 15th, there was short interest totalling 17,100 shares, a decline of 64.2% from the January 31st total of 47,700 shares. Based on an average daily volume of 506,700 shares, the days-to-cover ratio is presently 0.0 days. Approximately 0.2% of the company’s stock are sold short.

Sol-Gel Technologies Price Performance

Shares of NASDAQ:SLGL traded up $0.09 during trading hours on Friday, hitting $0.67. The company’s stock had a trading volume of 52,742 shares, compared to its average volume of 210,509. Sol-Gel Technologies has a 52 week low of $0.33 and a 52 week high of $1.65. The company has a market capitalization of $18.67 million, a price-to-earnings ratio of -1.97 and a beta of 1.31. The firm’s fifty day moving average price is $0.87 and its 200 day moving average price is $0.69.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Sol-Gel Technologies stock. Raymond James Financial Inc. acquired a new position in shares of Sol-Gel Technologies Ltd. (NASDAQ:SLGL) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 108,990 shares of the company’s stock, valued at approximately $101,000. Raymond James Financial Inc. owned approximately 0.39% of Sol-Gel Technologies as of its most recent SEC filing. Institutional investors own 26.18% of the company’s stock.

About Sol-Gel Technologies

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.