Lightwave Logic (NASDAQ:LWLG) Trading Up 3.4% – Here’s What Happened

Shares of Lightwave Logic, Inc. (NASDAQ:LWLG) shot up 3.4% on Monday . The company traded as high as $1.22 and last traded at $1.21. 778,146 shares were traded during trading, an increase of 5% from the average session volume of 743,290 shares. The stock had previously closed at $1.17.

Lightwave Logic Price Performance

The stock has a 50 day simple moving average of $1.71 and a 200-day simple moving average of $2.44. The firm has a market cap of $165.20 million, a PE ratio of -7.50 and a beta of 2.08.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of LWLG. Squarepoint Ops LLC bought a new stake in Lightwave Logic in the 4th quarter worth about $49,000. ProShare Advisors LLC grew its stake in shares of Lightwave Logic by 45.5% in the fourth quarter. ProShare Advisors LLC now owns 48,879 shares of the company’s stock worth $103,000 after acquiring an additional 15,294 shares during the period. Millennium Management LLC purchased a new position in shares of Lightwave Logic during the fourth quarter valued at approximately $364,000. Bank of America Corp DE lifted its position in Lightwave Logic by 21.0% during the fourth quarter. Bank of America Corp DE now owns 160,788 shares of the company’s stock valued at $338,000 after purchasing an additional 27,900 shares during the period. Finally, BNP Paribas Financial Markets purchased a new stake in Lightwave Logic in the fourth quarter worth approximately $32,000. Hedge funds and other institutional investors own 27.04% of the company’s stock.

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.