Insider Selling: WORK Medical Technology Group (NASDAQ:WOK) Major Shareholder Sells $261,960.70 in Stock

WORK Medical Technology Group LTD (NASDAQ:WOK) major shareholder Financial Lp Hrt sold 2,619,607 shares of the firm’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $0.10, for a total transaction of $261,960.70. Following the transaction, the insider directly owned 225,234 shares of the company’s stock, valued at $22,523.40. The trade was a 92.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Tuesday, June 2nd, Financial Lp Hrt sold 1,757,955 shares of WORK Medical Technology Group stock. The shares were sold at an average price of $0.11, for a total transaction of $193,375.05.
• On Monday, June 1st, Financial Lp Hrt bought 2,746,332 shares of WORK Medical Technology Group stock. The shares were bought at an average cost of $0.14 per share, with a total value of $384,486.48.
• On Thursday, May 28th, Financial Lp Hrt bought 1,535,850 shares of WORK Medical Technology Group stock. The shares were bought at an average cost of $0.09 per share, with a total value of $138,226.50.

WORK Medical Technology Group Stock Up 3.0%

WOK opened at $0.11 on Thursday. The company has a fifty day moving average of $1.11 and a 200 day moving average of $68.92. WORK Medical Technology Group LTD has a fifty-two week low of $0.09 and a fifty-two week high of $9,300.00.

Hedge Funds Weigh In On WORK Medical Technology Group

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

Wall Street Analyst Weigh In

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