Insider Selling: Lightwave Logic (NASDAQ:LWLG) Director Sells $76,680.00 in Stock

Lightwave Logic Inc. (NASDAQ:LWLG) Director Thomas Connelly, Jr. sold 9,000 shares of the firm’s stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $8.52, for a total value of $76,680.00. Following the completion of the sale, the director owned 77,132 shares of the company’s stock, valued at approximately $657,164.64. This represents a 10.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Lightwave Logic Price Performance

Shares of LWLG opened at $8.39 on Thursday. The stock has a 50-day moving average of $5.32 and a 200-day moving average of $4.67. The company has a market cap of $1.25 billion, a PE ratio of -49.35 and a beta of 2.75. Lightwave Logic Inc. has a one year low of $0.82 and a one year high of $9.03.

Lightwave Logic (NASDAQ:LWLG) last issued its earnings results on Friday, March 20th. The company reported ($0.04) EPS for the quarter. The firm had revenue of $0.16 million during the quarter. Lightwave Logic had a negative net margin of 8,571.31% and a negative return on equity of 46.11%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Lightwave Logic in a research note on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Lightwave Logic

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Lightwave Logic by 3.4% during the 3rd quarter. Vanguard Group Inc. now owns 9,122,676 shares of the company’s stock valued at $33,845,000 after purchasing an additional 296,908 shares during the last quarter. Alyeska Investment Group L.P. acquired a new position in Lightwave Logic during the 4th quarter valued at about $5,508,000. Geode Capital Management LLC boosted its stake in Lightwave Logic by 7.7% during the 4th quarter. Geode Capital Management LLC now owns 1,694,599 shares of the company’s stock valued at $5,493,000 after purchasing an additional 120,454 shares during the last quarter. State Street Corp boosted its stake in Lightwave Logic by 177.8% during the 4th quarter. State Street Corp now owns 1,593,600 shares of the company’s stock valued at $5,163,000 after purchasing an additional 1,019,881 shares during the last quarter. Finally, Marshall Wace LLP boosted its stake in Lightwave Logic by 4,591.9% during the 4th quarter. Marshall Wace LLP now owns 1,013,735 shares of the company’s stock valued at $3,285,000 after purchasing an additional 992,129 shares during the last quarter. Institutional investors and hedge funds own 27.04% of the company’s stock.

Lightwave Logic Company Profile

Lightwave Logic, Inc (NASDAQ: LWLG) is a U.S.-based photonics company focused on the development and commercialization of proprietary electro‐optic polymer materials and devices for high-speed optical communications. The company’s core technology platform centers on organic electro-optic polymers that offer low drive voltage, high modulation bandwidth and integration flexibility, enabling next-generation optical interconnects for data centers, telecommunications and emerging photonic computing architectures.

Lightwave Logic’s product pipeline includes modulators, waveguides and integrated photonic components designed to outperform traditional lithium-niobate and silicon-based solutions in terms of size, power consumption and ease of integration.