Y Intercept Hong Kong Ltd Invests $340,000 in Lightwave Logic Inc. $LWLG

Y Intercept Hong Kong Ltd bought a new stake in Lightwave Logic Inc. (NASDAQ:LWLG) in the second quarter, HoldingsChannel.com reports. The firm bought 274,206 shares of the company’s stock, valued at approximately $340,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Personalized Indexing Management LLC boosted its position in shares of Lightwave Logic by 18.2% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 35,547 shares of the company’s stock worth $44,000 after acquiring an additional 5,468 shares in the last quarter. UMB Bank n.a. lifted its stake in Lightwave Logic by 5.8% during the second quarter. UMB Bank n.a. now owns 367,092 shares of the company’s stock worth $455,000 after purchasing an additional 20,000 shares during the last quarter. Truist Financial Corp acquired a new stake in shares of Lightwave Logic in the 2nd quarter valued at $42,000. Envestnet Asset Management Inc. boosted its holdings in shares of Lightwave Logic by 159.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 56,952 shares of the company’s stock valued at $71,000 after purchasing an additional 35,000 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Lightwave Logic by 16.0% in the 1st quarter. Bank of New York Mellon Corp now owns 492,859 shares of the company’s stock valued at $505,000 after purchasing an additional 67,992 shares during the last quarter. 27.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Transactions at Lightwave Logic

In related news, Director Thomas M. Connelly, Jr. sold 6,000 shares of Lightwave Logic stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $4.25, for a total transaction of $25,500.00. Following the sale, the director directly owned 45,811 shares in the company, valued at $194,696.75. This trade represents a 11.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ronald A. Bucchi sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $3.97, for a total transaction of $39,700.00. Following the sale, the director directly owned 185,583 shares in the company, valued at $736,764.51. The trade was a 5.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 26,000 shares of company stock worth $106,300. Insiders own 4.20% of the company’s stock.

Lightwave Logic Stock Up 3.6%

NASDAQ LWLG opened at $5.23 on Friday. The company has a market cap of $676.97 million, a price-to-earnings ratio of -29.05 and a beta of 2.58. Lightwave Logic Inc. has a twelve month low of $0.79 and a twelve month high of $6.26. The business’s fifty day moving average is $4.32 and its 200 day moving average is $2.52.

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

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.