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

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

Wall Street Analyst Weigh In

WGRX has been the topic of several recent research reports. Wall Street Zen raised shares of Wellgistics Health from a “strong sell” rating to a “sell” rating in a report on Saturday, July 4th. Weiss Ratings reissued a “sell (e+)” rating on shares of Wellgistics Health in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average rating of “Sell”.

Institutional Trading of Wellgistics Health

Institutional investors have recently bought and sold shares of the business. XTX Topco Ltd increased its position in shares of Wellgistics Health by 195.1% in the fourth quarter. XTX Topco Ltd now owns 106,087 shares of the company’s stock valued at $42,000 after buying an additional 70,137 shares in the last quarter. Raymond James Financial Inc. lifted its position in shares of Wellgistics Health by 593.8% during the 3rd quarter. Raymond James Financial Inc. now owns 58,421 shares of the company’s stock valued at $52,000 after buying an additional 50,000 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Wellgistics Health by 81.0% during the 4th quarter. Geode Capital Management LLC now owns 487,383 shares of the company’s stock valued at $195,000 after buying an additional 218,170 shares in the last quarter.

Wellgistics Health Stock Down 1.7%

WGRX stock opened at $3.46 on Friday. Wellgistics Health has a 52-week low of $2.48 and a 52-week high of $97.50. The firm has a market cap of $8.68 million, a P/E ratio of -0.08 and a beta of -1.47. The company’s 50-day simple moving average is $3.39 and its 200-day simple moving average is $7.91.

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.