Goldman Sachs Group Inc. Sells 115,591 Shares of Lightwave Logic Inc. $LWLG

Key Points

• Goldman Sachs Group Inc. reduced its shareholding in Lightwave Logic Inc. by 29.6%, selling 115,591 shares and owning 274,551 shares as of the end of the last quarter.
• Other institutional investors also adjusted their positions, including Nuveen LLC and Ameriprise Financial Inc., which purchased new stakes in Lightwave Logic during recent quarters.
• Lightwave Logic's stock performance reflects significant volatility, with a current share price of $3.58, a 52-week low of $0.79, and a high of $4.80, alongside negative earnings reported for the recent quarter.

Goldman Sachs Group Inc. lowered its stake in shares of Lightwave Logic Inc. (NASDAQ:LWLG - Free Report) by 29.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 274,551 shares of the company's stock after selling 115,591 shares during the period. Goldman Sachs Group Inc. owned 0.22% of Lightwave Logic worth $281,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Nuveen LLC bought a new stake in shares of Lightwave Logic in the first quarter worth $315,000. Ameriprise Financial Inc. bought a new stake in Lightwave Logic during the fourth quarter valued at $35,000. Bank of America Corp DE lifted its stake in Lightwave Logic by 21.0% in the fourth quarter. Bank of America Corp DE now owns 160,788 shares of the company's stock worth $338,000 after purchasing an additional 27,900 shares during the last quarter. Squarepoint Ops LLC bought a new position in shares of Lightwave Logic during the fourth quarter valued at about $49,000. Finally, Johnson Investment Counsel Inc. boosted its stake in shares of Lightwave Logic by 623.7% during the 1st quarter. Johnson Investment Counsel Inc. now owns 82,972 shares of the company's stock valued at $85,000 after purchasing an additional 71,507 shares in the last quarter. 27.04% of the stock is owned by institutional investors and hedge funds.

Lightwave Logic Stock Performance

Shares of LWLG stock opened at $3.58 on Friday. The stock's 50-day simple moving average is $2.85 and its 200-day simple moving average is $1.71. The firm has a market capitalization of $463.40 million, a PE ratio of -19.89 and a beta of 2.61. Lightwave Logic Inc. has a fifty-two week low of $0.79 and a fifty-two week high of $4.80.

Lightwave Logic (NASDAQ:LWLG - Get Free Report) last announced its earnings results on Thursday, August 14th. The company reported ($0.05) earnings per share (EPS) 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.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Lightwave Logic from a "sell" rating to a "hold" rating in a report on Saturday, August 16th.

Lightwave Logic Company Profile

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.

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