Insider Selling: WORK Medical Technology Group (NASDAQ:WOK) Major Shareholder Sells 2,619,607 Shares of Stock

WORK Medical Technology Group LTD (NASDAQ:WOK) major shareholder Financial Lp Hrt sold 2,619,607 shares of WORK Medical Technology Group stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $0.10, for a total value of $261,960.70. Following the sale, the insider owned 225,234 shares in the company, valued at $22,523.40. This represents a 92.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Financial Lp Hrt also recently made the following trade(s):

• On Thursday, May 28th, Financial Lp Hrt purchased 1,535,850 shares of WORK Medical Technology Group stock. The stock was purchased at an average cost of $0.09 per share, for a total transaction of $138,226.50.

WORK Medical Technology Group Price Performance

WOK traded up $0.01 during trading on Monday, reaching $0.11. The stock had a trading volume of 381,078,933 shares, compared to its average volume of 19,822,500. The stock’s 50 day moving average is $1.17 and its two-hundred day moving average is $74.96. WORK Medical Technology Group LTD has a one year low of $0.09 and a one year high of $9,300.00.

Institutional Investors Weigh In On WORK Medical Technology Group

An institutional investor recently bought a new position in WORK Medical Technology Group stock. Sabby Management LLC purchased a new stake in shares of WORK Medical Technology Group LTD (NASDAQ:WOK) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,724,004 shares of the company’s stock, valued at approximately $204,000. WORK Medical Technology Group makes up about 0.2% of Sabby Management LLC’s portfolio, making the stock its 18th largest holding. Sabby Management LLC owned approximately 590.89% of WORK Medical Technology Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of WORK Medical Technology Group in a research note on Friday, May 1st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

About WORK Medical Technology Group

WORK Medical Technology Group Ltd. engages in developing health instruments. It manufactures and sells medical devices, including endotracheal tubes, laryngeal mask airways, heat and moisture exchanging filters, disposable breathing circuits, nebulizer kits, and yankauer suction sets. The company was founded on March 1, 2022 and is headquartered in Hangzhou, China.