Lightwave Logic (NASDAQ:LWLG) Sets New 52-Week High - Time to Buy?

Key Points

• Lightwave Logic's stock reached a new 52-week high, trading at $4.45 before closing at $4.19 with a significant volume of over 5.8 million shares.
• Wall Street Zen upgraded Lightwave Logic from a "sell" to a "hold" rating, indicating a shift in analyst sentiment towards the stock.
• Institutional investors have significantly increased their positions, with Jane Street Group boosting its stake by 225.2% during the second quarter.

Lightwave Logic Inc. (NASDAQ:LWLG - Get Free Report)'s stock price reached a new 52-week high during trading on Saturday . The stock traded as high as $4.45 and last traded at $4.19, with a volume of 5833531 shares trading hands. The stock had previously closed at $3.69.

Analysts Set New Price Targets

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

Lightwave Logic Price Performance

The firm's fifty day moving average price is $2.60 and its 200 day moving average price is $1.61.

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

Hedge Funds Weigh In On Lightwave Logic

Institutional investors have recently bought and sold shares of the company. Jane Street Group LLC increased its position in shares of Lightwave Logic by 225.2% during the second quarter. Jane Street Group LLC now owns 545,100 shares of the company's stock worth $676,000 after acquiring an additional 377,484 shares during the last quarter. Marshall Wace LLP acquired a new position in Lightwave Logic during the second quarter valued at approximately $458,000. Nuveen LLC bought a new stake in shares of Lightwave Logic in the first quarter valued at approximately $315,000. Y Intercept Hong Kong Ltd bought a new stake in Lightwave Logic in the 2nd quarter valued at $340,000. Finally, Brevan Howard Capital Management LP increased its holdings in Lightwave Logic by 1,218.4% during the 2nd quarter. Brevan Howard Capital Management LP now owns 194,501 shares of the company's stock valued at $241,000 after purchasing an additional 179,748 shares in the last quarter. 27.04% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.