Omada Health, Inc. (NASDAQ:OMDA) Short Interest Update

Omada Health, Inc. (NASDAQ:OMDA) was the recipient of a significant increase in short interest in the month of March. As of March 31st, there was short interest totaling 3,541,079 shares, an increase of 24.5% from the March 15th total of 2,843,612 shares. Currently, 6.0% of the company’s shares are sold short. Based on an average daily volume of 1,411,464 shares, the days-to-cover ratio is presently 2.5 days.

Analyst Upgrades and Downgrades

A number of analysts recently commented on OMDA shares. Canaccord Genuity Group dropped their price target on Omada Health from $28.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, March 6th. Citigroup started coverage on Omada Health in a research note on Tuesday. They issued an “outperform” rating for the company. The Goldman Sachs Group dropped their price target on Omada Health from $26.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, April 9th. Citizens Jmp started coverage on Omada Health in a research note on Tuesday. They issued an “outperform” rating and a $18.00 price target for the company. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Omada Health in a research note on Thursday, January 22nd. Ten investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Omada Health presently has a consensus rating of “Moderate Buy” and an average target price of $21.64.

Omada Health Stock Performance

Omada Health stock traded up $0.77 on Friday, hitting $14.14. 1,217,678 shares of the stock traded hands, compared to its average volume of 939,182. Omada Health has a 1 year low of $10.28 and a 1 year high of $28.40. The business’s fifty day simple moving average is $12.74 and its 200 day simple moving average is $16.70.

Omada Health (NASDAQ:OMDA) last issued its quarterly earnings results on Thursday, March 5th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.12. The company had revenue of $75.85 million for the quarter.

Insider Activity

In other news, CFO Steven L. Cook sold 1,884 shares of the stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $13.94, for a total transaction of $26,262.96. Following the completion of the sale, the chief financial officer owned 200,512 shares of the company’s stock, valued at approximately $2,795,137.28. This represents a 0.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Wei-Li Shao sold 2,829 shares of the stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $12.71, for a total value of $35,956.59. Following the sale, the president directly owned 328,850 shares of the company’s stock, valued at approximately $4,179,683.50. This trade represents a 0.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 8,776 shares of company stock valued at $120,483.

Institutional Investors Weigh In On Omada Health

A number of large investors have recently made changes to their positions in OMDA. Geode Capital Management LLC bought a new stake in shares of Omada Health during the 2nd quarter valued at about $637,000. Walleye Capital LLC purchased a new stake in Omada Health during the 2nd quarter valued at $458,000. Ilex Capital Partners UK LLP bought a new position in Omada Health in the 2nd quarter valued at $201,000. Soros Fund Management LLC bought a new position in Omada Health in the 2nd quarter valued at $640,000. Finally, Raymond James Financial Inc. bought a new position in Omada Health in the 2nd quarter valued at $32,000.

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.