Lightwave Logic (NASDAQ:LWLG) Shares Gap Up – Still a Buy?

Lightwave Logic Inc. (NASDAQ:LWLG) gapped up prior to trading on Tuesday . The stock had previously closed at $4.36, but opened at $4.62. Lightwave Logic shares last traded at $4.4740, with a volume of 159,026 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on LWLG shares. Wall Street Zen upgraded Lightwave Logic from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of Lightwave Logic in a report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of “Sell”.

Lightwave Logic Trading Down 0.3%

The business has a 50-day moving average price of $4.67 and a 200-day moving average price of $2.84. The stock has a market cap of $581.04 million, a PE ratio of -24.17 and a beta of 2.58.

Lightwave Logic (NASDAQ:LWLG) last released its quarterly earnings results on Friday, November 14th. The company reported ($0.04) earnings per share for the quarter. Lightwave Logic had a negative return on equity of 66.64% and a negative net margin of 22,321.05%.The company had revenue of $0.03 million for the quarter.

Insider Activity at Lightwave Logic

In other Lightwave Logic news, Director Laila Partridge sold 10,000 shares of the stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $4.11, for a total value of $41,100.00. Following the completion of the sale, the director owned 53,802 shares in the company, valued at approximately $221,126.22. This represents a 15.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ronald A. Bucchi sold 10,000 shares of the stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $3.97, for a total value of $39,700.00. Following the completion of the sale, the director directly owned 185,583 shares of the company’s stock, valued at approximately $736,764.51. This represents a 5.11% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 26,000 shares of company stock valued at $106,300. Corporate insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in LWLG. Sherbrooke Park Advisers LLC acquired a new stake in Lightwave Logic during the third quarter worth $38,000. WINTON GROUP Ltd acquired a new position in shares of Lightwave Logic in the 2nd quarter valued at $39,000. Hudson Bay Capital Management LP purchased a new position in shares of Lightwave Logic during the 2nd quarter worth $40,000. Truist Financial Corp acquired a new stake in shares of Lightwave Logic during the 2nd quarter worth about $42,000. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in Lightwave Logic by 18.2% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 35,547 shares of the company’s stock valued at $44,000 after buying an additional 5,468 shares during the period. 27.04% of the stock is currently owned by institutional investors and hedge funds.

About Lightwave Logic

Lightwave Logic, Inc focuses on the development of photonic devices and electro-optical polymer materials systems for fiber-optic data communications, telecommunications, and optical computing markets in the United States. The company is involved in the designing and synthesizing of organic chromophores for use in its electro-optic polymer systems and photonic device designs.