Lightwave Logic (NASDAQ:LWLG) Stock Price Up 3.4% - Still a Buy?

Shares of Lightwave Logic, Inc. (NASDAQ:LWLG - Get Free Report) rose 3.4% on Monday . The stock traded as high as $1.22 and last traded at $1.21. Approximately 778,146 shares changed hands during mid-day trading, an increase of 5% from the average daily volume of 743,290 shares. The stock had previously closed at $1.17.

Lightwave Logic Price Performance

The stock's 50-day moving average is $1.73 and its two-hundred day moving average is $2.45. The company has a market cap of $171.32 million, a P/E ratio of -7.78 and a beta of 2.08.

Institutional Investors Weigh In On Lightwave Logic

Several hedge funds and other institutional investors have recently made changes to their positions in LWLG. Vanguard Group Inc. grew its position in Lightwave Logic by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 9,581,221 shares of the company's stock valued at $20,121,000 after buying an additional 47,280 shares during the period. Geode Capital Management LLC grew its position in shares of Lightwave Logic by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 2,867,308 shares of the company's stock valued at $6,023,000 after acquiring an additional 29,719 shares during the period. State Street Corp grew its position in shares of Lightwave Logic by 2.6% during the 3rd quarter. State Street Corp now owns 2,683,519 shares of the company's stock valued at $7,407,000 after acquiring an additional 68,056 shares during the period. Northern Trust Corp increased its stake in shares of Lightwave Logic by 0.9% in the 4th quarter. Northern Trust Corp now owns 1,037,213 shares of the company's stock worth $2,178,000 after purchasing an additional 9,042 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Lightwave Logic by 9.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,031,361 shares of the company's stock worth $2,847,000 after purchasing an additional 90,609 shares during the period. Hedge funds and other institutional investors own 27.04% of the company's stock.

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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.