Lightwave Logic downgraded to strong sell, as BNY Mellon buys stake

Wall Street Zen downgraded Lightwave Logic (NASDAQ:LWLG) from a sell to a strong sell rating on Sunday. Recent financial reports showed modest revenue growth alongside widening net losses. The company continues to pursue its path toward commercialization.

Bank of New York Mellon Corp purchased a new stake in Lightwave Logic during the second quarter. The institutional investor acquired 461,945 shares. This new position is valued at approximately $4.37 million. The investment signals institutional confidence despite the analyst downgrade.