Insider Buying: WORK Medical Technology Group (NASDAQ:WOK) Major Shareholder Purchases 2,746,332 Shares of Stock

WORK Medical Technology Group LTD (NASDAQ:WOK) major shareholder Financial Lp Hrt acquired 2,746,332 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were bought at an average price of $0.14 per share, for a total transaction of $384,486.48. Following the purchase, the insider directly owned 351,959 shares of the company’s stock, valued at approximately $49,274.26. This trade represents a -114.70% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own more than 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 stock was sold at an average price of $0.11, for a total transaction of $193,375.05.
• On Friday, May 29th, Financial Lp Hrt sold 2,619,607 shares of WORK Medical Technology Group stock. The stock was sold at an average price of $0.10, for a total transaction of $261,960.70.
• On Thursday, May 28th, Financial Lp Hrt acquired 1,535,850 shares of WORK Medical Technology Group stock. The shares were purchased at an average price of $0.09 per share, for a total transaction of $138,226.50.

WORK Medical Technology Group Trading Up 5.8%

NASDAQ WOK traded up $0.01 on Wednesday, hitting $0.11. 168,025,610 shares of the stock were exchanged, compared to its average volume of 22,130,434. The company’s 50-day moving average price is $1.15 and its two-hundred day moving average price is $74.44. WORK Medical Technology Group LTD has a 52-week low of $0.09 and a 52-week high of $9,300.00.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in WORK Medical Technology Group stock. Sabby Management LLC acquired a new position in shares of WORK Medical Technology Group LTD (NASDAQ:WOK) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,724,004 shares of the company’s stock, valued at approximately $204,000. WORK Medical Technology Group accounts for about 0.2% of Sabby Management LLC’s investment portfolio, making the stock its 18th biggest holding. Sabby Management LLC owned 590.89% of WORK Medical Technology Group as of its most recent filing with the Securities and Exchange Commission.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued 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 MarketBeat.com, the stock currently 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.