Omada Health (NASDAQ:OMDA) Shares Gap Down – Here’s Why

Omada Health, Inc. (NASDAQ:OMDA)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $18.45, but opened at $17.75. Omada Health shares last traded at $18.04, with a volume of 2,415,670 shares changing hands.

Analyst Ratings Changes

A number of research analysts have commented on OMDA shares. Robert W. Baird assumed coverage on Omada Health in a research note on Friday, September 5th. They set a “neutral” rating and a $24.00 price objective on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Omada Health in a report on Wednesday, October 8th. Baird R W upgraded Omada Health to a “hold” rating in a report on Friday, September 5th. Canaccord Genuity Group increased their price objective on shares of Omada Health from $27.00 to $28.00 and gave the company a “buy” rating in a research report on Friday, August 8th. Finally, Barclays boosted their target price on shares of Omada Health from $28.00 to $29.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $26.33.

Omada Health Price Performance

The stock’s 50 day moving average is $22.13.

Institutional Trading of Omada Health

Institutional investors have recently added to or reduced their stakes in the stock. Cigna Investments Inc. New acquired a new position in Omada Health during the 3rd quarter worth $76,161,000. Perceptive Advisors LLC bought a new position in shares of Omada Health during the second quarter worth about $44,402,000. Divisadero Street Capital Management LP acquired a new position in Omada Health in the third quarter worth about $30,510,000. Loomis Sayles & Co. L P bought a new stake in Omada Health in the second quarter valued at about $19,948,000. Finally, BIT Capital GmbH acquired a new stake in Omada Health during the third quarter valued at approximately $13,639,000.

Omada Health Company Profile

Omada’s mission is to bend the curve. Our hope is that, one day, tomorrow’s epidemiologists will notice a bend in disease curves, wonder what might be happening, and conclude that part of that impact has been Omada. As part of that mission, we strive to inspire and enable people to make lasting health changes on their own terms.