Sol-Gel Technologies Ltd. (NASDAQ:SLGL) Sees Significant Decrease in Short Interest

Sol-Gel Technologies Ltd. (NASDAQ:SLGL) was the recipient of a significant drop in short interest in January. As of January 31st, there was short interest totalling 47,700 shares, a drop of 77.2% from the January 15th total of 209,500 shares. Based on an average trading volume of 507,400 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.7% of the shares of the stock are short sold.

Sol-Gel Technologies Stock Performance

NASDAQ:SLGL traded up $0.01 during trading hours on Thursday, reaching $0.62. The company’s stock had a trading volume of 83,882 shares, compared to its average volume of 263,872. The firm has a market capitalization of $17.16 million, a price-to-earnings ratio of -1.81 and a beta of 1.31. The firm has a 50-day simple moving average of $0.85 and a 200-day simple moving average of $0.68. Sol-Gel Technologies has a 1 year low of $0.33 and a 1 year high of $1.65.

Institutional Inflows and Outflows

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 disclosure with the Securities and Exchange Commission. The fund purchased 108,990 shares of the company’s stock, valued at approximately $101,000. Raymond James Financial Inc. owned 0.39% of Sol-Gel Technologies at the end of the most recent reporting period. 26.18% of the stock is currently owned by 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.