Financial Advocates Investment Management Purchases New Position in Lightwave Logic, Inc. (NASDAQ:LWLG)

Financial Advocates Investment Management purchased a new stake in shares of Lightwave Logic, Inc. (NASDAQ:LWLG) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 305,986 shares of the company’s stock, valued at approximately $845,000. Financial Advocates Investment Management owned about 0.25% of Lightwave Logic at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. ProShare Advisors LLC lifted its position in shares of Lightwave Logic by 14.8% in the 1st quarter. ProShare Advisors LLC now owns 29,739 shares of the company’s stock worth $139,000 after purchasing an additional 3,832 shares during the period. Vanguard Group Inc. grew its stake in shares of Lightwave Logic by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 8,527,463 shares of the company’s stock worth $39,909,000 after acquiring an additional 140,851 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Lightwave Logic by 4.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 83,428 shares of the company’s stock valued at $391,000 after buying an additional 3,609 shares during the period. B. Riley Wealth Advisors Inc. grew its position in Lightwave Logic by 2.6% during the first quarter. B. Riley Wealth Advisors Inc. now owns 111,314 shares of the company’s stock valued at $498,000 after buying an additional 2,825 shares during the period. Finally, Bank of New York Mellon Corp grew its position in Lightwave Logic by 10.0% during the second quarter. Bank of New York Mellon Corp now owns 434,991 shares of the company’s stock valued at $1,301,000 after buying an additional 39,576 shares during the period. 27.04% of the stock is owned by institutional investors.

Lightwave Logic Stock Performance

LWLG opened at $3.16 on Friday. The firm has a market cap of $381.48 million, a P/E ratio of -17.55 and a beta of 2.00. Lightwave Logic, Inc. has a fifty-two week low of $2.43 and a fifty-two week high of $5.69. The firm has a 50-day moving average of $2.97 and a 200 day moving average of $3.23.

Lightwave Logic (NASDAQ:LWLG) last announced its quarterly earnings results on Friday, August 9th. The company reported ($0.05) earnings per share (EPS) for the quarter. The firm had revenue of $0.02 million for the quarter.

Lightwave Logic 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.