Wellgistics Health, Inc. (NASDAQ:WGRX) Sees Significant Decline in Short Interest

Wellgistics Health, Inc. (NASDAQ:WGRX) was the target of a significant decrease in short interest in the month of July. As of July 15th, there was short interest totaling 69,712 shares, a decrease of 33.7% from the June 30th total of 105,197 shares. Based on an average daily volume of 15,439 shares, the short-interest ratio is presently 4.5 days. Currently, 3.8% of the company’s shares are sold short.

Wellgistics Health Trading Down 1.7%

Shares of NASDAQ:WGRX opened at $3.46 on Friday. Wellgistics Health has a 12 month low of $2.48 and a 12 month high of $97.50. The company has a market capitalization of $8.68 million, a price-to-earnings ratio of -0.08 and a beta of -1.47. The firm’s 50-day moving average is $3.38 and its 200 day moving average is $7.88.

Institutional Investors Weigh In On Wellgistics Health

Institutional investors and hedge funds have recently modified their holdings of the business. XTX Topco Ltd boosted its holdings in Wellgistics Health by 195.1% during the 4th quarter. XTX Topco Ltd now owns 106,087 shares of the company’s stock valued at $42,000 after acquiring an additional 70,137 shares during the period. Raymond James Financial Inc. lifted its position in shares of Wellgistics Health by 593.8% during the third quarter. Raymond James Financial Inc. now owns 58,421 shares of the company’s stock worth $52,000 after purchasing an additional 50,000 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Wellgistics Health by 81.0% during the fourth quarter. Geode Capital Management LLC now owns 487,383 shares of the company’s stock valued at $195,000 after purchasing an additional 218,170 shares during the period.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on WGRX shares. Wall Street Zen raised Wellgistics Health from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 4th. Weiss Ratings restated a “sell (e+)” rating on shares of Wellgistics Health in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Wellgistics Health Company Profile

Founded in 2022, Wellgistics Health is a holding company for various existing and planned strategic businesses centered around pharmaceuticals and healthcare services. As a micro health ecosystem, our portfolio of companies consists of a pharmacy, wholesale operations, and a technology division with a novel platform for hub and clinical services. We are focused on improving the lives of patients while delivering unique solutions for pharmacies, providers, pharmaceutical manufacturers, and payors.