Omada Health, Inc. (NASDAQ:OMDA) Sees Large Drop in Short Interest

by · The Cerbat Gem

Omada Health, Inc. (NASDAQ:OMDAGet Free Report) was the target of a large decline in short interest in January. As of January 15th, there was short interest totaling 1,498,366 shares, a decline of 54.4% from the December 31st total of 3,282,838 shares. Approximately 2.6% of the company’s stock are short sold. Based on an average trading volume of 903,681 shares, the days-to-cover ratio is presently 1.7 days. Based on an average trading volume of 903,681 shares, the days-to-cover ratio is presently 1.7 days. Approximately 2.6% of the company’s stock are short sold.

Omada Health Trading Down 0.6%

Shares of OMDA traded down $0.09 during midday trading on Friday, reaching $14.95. The stock had a trading volume of 1,064,878 shares, compared to its average volume of 979,536. The firm has a market cap of $865.75 million and a PE ratio of -59.80. The firm has a 50 day simple moving average of $16.06 and a 200-day simple moving average of $19.81. Omada Health has a one year low of $14.14 and a one year high of $28.40.

Insiders Place Their Bets

In other Omada Health news, President Wei-Li Shao sold 5,618 shares of the stock in a transaction dated Monday, December 29th. The stock was sold at an average price of $16.13, for a total transaction of $90,618.34. Following the completion of the transaction, the president owned 69,079 shares in the company, valued at approximately $1,114,244.27. This represents a 7.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sean P. Duffy sold 230,479 shares of the business’s stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $15.60, for a total value of $3,595,472.40. Following the completion of the sale, the chief executive officer owned 126,644 shares in the company, valued at approximately $1,975,646.40. This trade represents a 64.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 276,893 shares of company stock valued at $4,336,787.

Institutional Trading of Omada Health

Several institutional investors and hedge funds have recently bought and sold shares of OMDA. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Omada Health in the fourth quarter valued at approximately $1,222,000. TD Waterhouse Canada Inc. acquired a new stake in Omada Health during the 4th quarter valued at $32,000. Financial Enhancement Group LLC boosted its position in Omada Health by 196.6% during the fourth quarter. Financial Enhancement Group LLC now owns 97,199 shares of the company’s stock worth $1,519,000 after purchasing an additional 64,423 shares during the period. Inlight Wealth Management LLC acquired a new position in shares of Omada Health in the fourth quarter valued at $45,000. Finally, Rubicon Global Capital Ltd bought a new position in shares of Omada Health in the fourth quarter valued at about $213,000.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on OMDA. BMO Capital Markets began coverage on shares of Omada Health in a research note on Thursday, November 13th. They set an “outperform” rating and a $27.00 price target for the company. Evercore ISI increased their target price on shares of Omada Health from $27.00 to $28.00 and gave the stock an “outperform” rating in a report on Friday, November 7th. The Goldman Sachs Group reiterated a “buy” rating and issued a $26.00 price target on shares of Omada Health in a research note on Friday, January 16th. Morgan Stanley set a $32.00 price target on shares of Omada Health in a research report on Thursday, December 18th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 target price on shares of Omada Health in a research report on Thursday, January 22nd. Eight equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $25.10.

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About Omada Health

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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.

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