Omada Health, Inc. (NASDAQ:OMDA) Sees Significant Increase in Short Interest
by Sarita Garza · The Markets DailyOmada Health, Inc. (NASDAQ:OMDA – Get Free Report) saw a significant growth in short interest in January. As of January 30th, there was short interest totaling 2,601,071 shares, a growth of 73.6% from the January 15th total of 1,498,366 shares. Approximately 4.5% of the company’s stock are short sold. Based on an average trading volume of 1,135,420 shares, the short-interest ratio is currently 2.3 days. Based on an average trading volume of 1,135,420 shares, the short-interest ratio is currently 2.3 days. Approximately 4.5% of the company’s stock are short sold.
Omada Health Trading Up 0.7%
Shares of NASDAQ OMDA opened at $11.31 on Friday. Omada Health has a 12-month low of $10.28 and a 12-month high of $28.40. The company has a market cap of $654.94 million and a price-to-earnings ratio of -45.24. The stock’s 50 day simple moving average is $14.89 and its 200 day simple moving average is $19.37.
Insider Activity
In other Omada Health news, CEO Sean P. Duffy sold 230,479 shares of the company’s stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $15.60, for a total value of $3,595,472.40. Following the transaction, the chief executive officer directly owned 126,644 shares of the company’s stock, valued at $1,975,646.40. This represents a 64.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Wei-Li Shao sold 5,618 shares of the stock in a transaction that occurred on Monday, December 29th. The shares were sold at an average price of $16.13, for a total value of $90,618.34. Following the transaction, the president owned 69,079 shares of the company’s stock, valued at approximately $1,114,244.27. This trade represents a 7.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 276,893 shares of company stock worth $4,336,787.
Institutional Trading of Omada Health
A number of large investors have recently modified their holdings of OMDA. Cigna Investments Inc. New bought a new stake in Omada Health in the 3rd quarter valued at about $76,161,000. Perceptive Advisors LLC bought a new stake in shares of Omada Health during the second quarter valued at approximately $44,402,000. Loomis Sayles & Co. L P boosted its position in shares of Omada Health by 23.0% during the fourth quarter. Loomis Sayles & Co. L P now owns 1,855,721 shares of the company’s stock worth $29,283,000 after buying an additional 346,588 shares during the period. Divisadero Street Capital Management LP bought a new position in Omada Health in the 3rd quarter worth approximately $30,510,000. Finally, Jefferies Financial Group Inc. acquired a new stake in Omada Health in the 4th quarter valued at approximately $16,948,000.
Analysts Set New Price Targets
Several analysts recently issued reports on OMDA shares. Morgan Stanley set a $32.00 price target on shares of Omada Health in a report on Thursday, December 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 price target on shares of Omada Health in a research report on Thursday, January 22nd. Weiss Ratings reiterated a “sell (d)” rating on shares of Omada Health in a research note on Thursday, January 22nd. BMO Capital Markets assumed coverage on Omada Health in a research note on Thursday, November 13th. They set an “outperform” rating and a $27.00 price objective on the stock. Finally, Wells Fargo & Company assumed coverage on Omada Health in a research report on Thursday, January 8th. They issued an “equal weight” rating and a $17.00 target price for the company. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $25.10.
Read Our Latest Stock Analysis on OMDA
Omada Health Company Profile
Omada Health is a digital health company that specializes in the prevention and management of chronic conditions through personalized, technology-driven programs. The company’s platform combines data analytics, behavioral science and human coaching to support individuals at risk for or living with conditions such as prediabetes, type 2 diabetes, hypertension and musculoskeletal disorders. Participants access the program via a mobile app or web portal, where they receive tailored curriculum, feedback on health metrics and ongoing virtual coaching.
In addition to its core disease-management offerings, Omada Health has expanded its services to include mental health support and digital therapeutics for weight management.