Insider Selling: Lightwave Logic (NASDAQ:LWLG) Director Sells 6,000 Shares of Stock

Lightwave Logic Inc. (NASDAQ:LWLG) Director Thomas Connelly, Jr. sold 6,000 shares of the stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $4.25, for a total transaction of $25,500.00. Following the completion of the sale, the director owned 45,811 shares of the company’s stock, valued at approximately $194,696.75. The trade was a 11.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Lightwave Logic Stock Performance

NASDAQ LWLG opened at $4.33 on Friday. The firm has a 50-day simple moving average of $2.97 and a 200 day simple moving average of $1.79. Lightwave Logic Inc. has a twelve month low of $0.79 and a twelve month high of $4.80. The stock has a market cap of $560.48 million, a PE ratio of -24.05 and a beta of 2.53.

Lightwave Logic (NASDAQ:LWLG) last released its earnings results on Thursday, August 14th. The company reported ($0.05) earnings per share for the quarter. Lightwave Logic had a negative net margin of 22,321.05% and a negative return on equity of 66.64%. The company had revenue of $0.03 million during the quarter.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Lightwave Logic from a “sell” rating to a “hold” rating in a research note on Saturday, August 16th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in LWLG. BNP Paribas Financial Markets acquired a new position in Lightwave Logic in the fourth quarter worth about $32,000. Ameriprise Financial Inc. acquired a new stake in shares of Lightwave Logic during the fourth quarter worth approximately $35,000. WINTON GROUP Ltd acquired a new stake in shares of Lightwave Logic during the second quarter worth approximately $39,000. Hudson Bay Capital Management LP acquired a new stake in shares of Lightwave Logic during the second quarter worth approximately $40,000. Finally, Truist Financial Corp acquired a new stake in shares of Lightwave Logic during the second quarter worth approximately $42,000. Institutional investors and hedge funds own 27.04% of the company’s stock.

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.