Wellgistics Health (NASDAQ:WGRX) Shares Gap Down – What’s Next?

Shares of Wellgistics Health, Inc. (NASDAQ:WGRX) gapped down prior to trading on Tuesday . The stock had previously closed at $4.1350, but opened at $3.91. Wellgistics Health shares last traded at $4.00, with a volume of 185,340 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Wellgistics Health in a research note on Friday, March 27th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

Wellgistics Health Stock Down 7.3%

The firm has a 50 day simple moving average of $0.12 and a two-hundred day simple moving average of $0.31. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.09 and a quick ratio of 0.04. The stock has a market cap of $481.94 million, a price-to-earnings ratio of -4.31 and a beta of -1.17.

Wellgistics Health (NASDAQ:WGRX) last announced its quarterly earnings results on Tuesday, May 19th. The company reported ($3.50) earnings per share (EPS) for the quarter. Wellgistics Health had a negative net margin of 545.69% and a negative return on equity of 1,617.25%. The firm had revenue of $1.56 million during the quarter.

Hedge Funds Weigh In On Wellgistics Health

Several institutional investors and hedge funds have recently made changes to their positions in the company. XTX Topco Ltd grew its holdings in shares of Wellgistics Health by 195.1% in the 4th 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 during the period. Geode Capital Management LLC grew its holdings in shares of Wellgistics Health by 81.0% in 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 during the period. Heights Capital Management Inc. acquired a new position in shares of Wellgistics Health in the 3rd quarter valued at $2,588,000. Finally, Raymond James Financial Inc. grew its holdings in shares of Wellgistics Health by 593.8% in 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 during the period.

About Wellgistics Health

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.