Framework Journal · one stock, one dated entry

Recorded 2026-07-19 · Permanent

Sol-Gel Technologies Ltd. SLGL

Clears both ethical standards

An entry written while the outcome is still unknown. It will be scored by what the market does next, and it will never be edited to look cleverer than it was.

The label
Accumulation

read at $83.20

Sol-Gel Technologies Ltd. holds its Accumulation at $83.20.

PHINPOOPSC
  • PHPhase · the trend structure carries the Accumulation label
  • INInsiders · insiders bought, latest filing 2026-07-01
  • POPositioning · no disclosures inside 60 days, left as found
  • OPOptions · no verdict drawn today, left as found
  • SCScreen · passes the values gate
  • edge confirmed
  • edge broken
  • edge forming

Each arm is one independent read. Conviction is not a single call, it is how many edges converge.

The investor read · the season, not the day

As held on the ledger · 2026-07-19
PhaseAccumulation
Quantitative stateThe statistical read favours the sellers, held for 23 days
Price$83.20
ValuationN/A trailing · -9.04 forward price to earnings
Values screenPASS
Beta1.13

The opportunity · what the numbers say it is worth

Read at
$83.20
N/A P/E · -9.04 fwd
Our fair value
$166.40
100% discount
Analyst target (avg)
$184.00
+121% to current
Target low $110.00Analyst target rangeTarget high $285.00
▲ current $83.20 · | average target

Price history & projections · where it has been, where the models see it going

$307$146$-15TODAY5y agoPROJECTIONAnalyst high$285.00 +288%Analyst avg$184.00 +150%Our fair value$166.40 +126%Conservative$110.00 +50%

The valuation journey · where the price sits against fair value and the Street

Current
$83.20
you are here
Conservative
$110.00
+32%
Analyst avg
$184.00
+121%
Our fair value
$166.40
+100%
Analyst high
$285.00
+243%

Green marks levels above today's price, red below; the shaded band is the gap between the price and our fair value.

Reading the gap · Both our model and the analysts see meaningful upside from here.

Revenue growth-89.50%
Profit margin-5.66%
Debt to equity1.68
Analyst consensusNone · 3 covering

Fair value and rating are our own model estimates; target range reflects third-party analyst estimates. Analysis, not advice.

The values screen, explained · five checks, plain English

This company clears both standards. There are two widely recognised ways to check whether a company is suitable for a Muslim investor. Here is how it did on each:

The common standard · AAOIFI
Used by most halal investing apps
✓ PASSES
Our stricter standard · asset-based
The one Titan applies
✓ PASSES

What these two standards are, and how they differ →

  • Business activity Its core business isn't built on prohibited lines — no gambling, alcohol, tobacco, weapons, or interest-based lending. Pass
  • Debt load Interest-bearing debt is just 0.4% of its assets, well under the one-third ceiling — it does not run on borrowed money. Pass
  • Interest-bearing cash Cash held in interest-bearing accounts and securities is 10.0% of assets, under the one-third limit. Pass
  • Receivables Money owed to the company is 0.0% of assets, under the 49% limit. Pass
  • Revenue purity Only 0.0% of revenue comes from non-compliant sources — under the 5% line. Pass

Every security is read against two recognised standards: our stricter asset-based screen (ratios measured against total assets) and the more widely used market-value standard (measured against market capitalisation). Where they agree we say so plainly; where they part ways — almost always on the debt check — we show both readings and mark it, because that disagreement is the finding, not a fault. We report the score; you and your scholar make the call.

The business, in plain words · what the numbers mean

The fundamentals · plain-English read
Forward P/E-9.0x
Revenue growth-89.5%
revenue is shrinking
Profit margin-5.7%
currently unprofitable
Return on equity-2.9%
not currently earning a positive return on equity
Debt to equity1.68
a meaningful debt load worth watching
Current ratio8.84
comfortably covers its short-term bills
Beta1.13
moves a little more than the market
Market cap$270M

The risks · The things to watch: it's a small-cap, so the share price can swing harder than the market; it carries a real debt load, which raises the stakes if revenue slips.

Plain-English interpretation of our own screen data. Analysis, not advice.

Related securities · others in SLGL's space worth a look

Screened names in the same industry · explore each on its own page.

Where & how to trade · wherever in the world you are

SLGL trades on Nasdaq. As a US-listed security it is accessible through almost any international broker offering US markets. New to this, or investing from outside the US? Our guide to accessing global markets covers brokers, currencies and the practical steps.

The trader read · the latest dated commentary

The framework reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: PASS with ethical screening pending. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 42% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 964%. Our forward projection puts the odds of a 10% gain over the next month near 42%. The street (2 analysts) rates it strong buy, with a mean price target of $147. Entered 2026-07-18 · Accumulation

The dated journal · newest first, never edited

2026-07-18 Accumulation $77.98 +0.0% Entry 3

The framework reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: PASS with ethical screening pending. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 42% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 964%. Our forward projection puts the odds of a 10% gain over the next month near 42%. The street (2 analysts) rates it strong buy, with a mean price target of $147.

2026-07-03 Accumulation $77.98 +0.0% Entry 2

The framework reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: PASS with ethical screening pending. The risk-adjusted return profile shows excellent risk-adjusted returns.

2026-07-02 Accumulation $77.98 Entry 1

The framework reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Ethical screening: PASS with ethical screening pending. The risk-adjusted return profile shows excellent risk-adjusted returns.

Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.

The insider ledger · Form 4 filings, as filed

Most recent filings · SLGL
DateInsiderTitleTypeSharesValue
2026-07-01 Opaleye Management Inc. 10% Purchase 1,712 $0
2026-05-13 OPALEYE MANAGEMENT, INC. Beneficial Owner of more than 10% of a Class of Security 3,437 $231,502
2026-03-24 OPALEYE MANAGEMENT, INC. Beneficial Owner of more than 10% of a Class of Security 39,665 $2,855,880
2026-02-13 OPALEYE MANAGEMENT, INC. Beneficial Owner of more than 10% of a Class of Security 291 $18,333
2026-02-02 OPALEYE MANAGEMENT, INC. Beneficial Owner of more than 10% of a Class of Security 100 $5,800
2026-02-02 OPALEYE MANAGEMENT, INC. Beneficial Owner of more than 10% of a Class of Security 100 $5,800
2026-01-27 OPALEYE MANAGEMENT, INC. Beneficial Owner of more than 10% of a Class of Security 100 $5,705
2026-01-23 OPALEYE MANAGEMENT, INC. Beneficial Owner of more than 10% of a Class of Security 3,324 $187,356
2026-01-05 OPALEYE MANAGEMENT, INC. Beneficial Owner of more than 10% of a Class of Security 2,592 $108,858
2025-12-31 OPALEYE MANAGEMENT, INC. Beneficial Owner of more than 10% of a Class of Security 66,304 $2,782,904

Public filings, recorded as found. The full tape lives at Insider Intelligence.

What holding actually paid · price plus dividends

If $1,000 had been placed · historical, not a promise
PeriodPrice thenPrice returnDivs per share$1,000 becameTotal return
1 month $69.98 +5.0% · $1,050 +5.0%
2 months $74.86 -1.8% · $982 -1.8%
3 months $85.31 -13.8% · $862 -13.8%
6 months $42.30 +73.8% · $1,738 +73.8%
1 year $6.91 +963.7% · $10,637 +963.7%
2 years $7.70 +854.6% · $9,546 +854.6%
3 years $33.50 +119.4% · $2,194 +119.4%
5 years $112.70 -34.8% · $652 -34.8%

Historical returns from market close data. Past performance does not guarantee future results.

This entry now belongs to the ledger. Whatever SLGL does next, these words stay.

Sol-Gel Technologies Ltd. · SLGL · Accumulation · $83.20
Recorded 2026-07-19 · before the outcome · scored mechanically

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