Parallel Advisors LLC Grows Stock Position in Omada Health, Inc. $OMDA

Parallel Advisors LLC grew its holdings in Omada Health, Inc. (NASDAQ:OMDA) by 12,235.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 123,359 shares of the company’s stock after acquiring an additional 122,359 shares during the quarter. Parallel Advisors LLC’s holdings in Omada Health were worth $1,947,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Perceptive Advisors LLC purchased a new position in shares of Omada Health in the 2nd quarter valued at approximately $44,402,000. Divisadero Street Capital Management LP purchased a new stake in Omada Health during the 3rd quarter worth approximately $30,510,000. Jefferies Financial Group Inc. purchased a new stake in Omada Health during the 4th quarter worth approximately $16,948,000. BIT Capital GmbH acquired a new position in Omada Health during the 3rd quarter valued at approximately $13,639,000. Finally, Madryn Asset Management LP purchased a new position in shares of Omada Health in the fourth quarter worth $9,212,000.

Omada Health Stock Performance

NASDAQ OMDA opened at $17.93 on Friday. The stock has a 50-day simple moving average of $14.83 and a two-hundred day simple moving average of $14.88. The firm has a market capitalization of $1.07 billion and a P/E ratio of -66.41. Omada Health, Inc. has a fifty-two week low of $10.28 and a fifty-two week high of $28.40.

Omada Health (NASDAQ:OMDA) last posted its earnings results on Thursday, May 7th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.03. Omada Health had a negative return on equity of 1.82% and a negative net margin of 2.22%.The firm had revenue of $78.05 million for the quarter. As a group, analysts forecast that Omada Health, Inc. will post -0.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on OMDA shares. JPMorgan Chase & Co. lowered their price objective on shares of Omada Health from $32.00 to $26.00 and set an “overweight” rating for the company in a research note on Thursday, March 12th. The Goldman Sachs Group restated a “buy” rating on shares of Omada Health in a research note on Friday, May 8th. Wall Street Zen cut Omada Health from a “buy” rating to a “hold” rating in a research report on Saturday, May 30th. Citizens Jmp boosted their price target on Omada Health from $18.00 to $21.00 and gave the company a “market outperform” rating in a research note on Friday, May 8th. Finally, BMO Capital Markets cut their price objective on Omada Health from $27.00 to $18.00 and set an “outperform” rating on the stock in a report on Friday, March 6th. Ten research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Omada Health presently has a consensus rating of “Moderate Buy” and an average target price of $22.91.

Insider Activity

In related news, President Wei-Li Shao sold 2,829 shares of the business’s stock in a transaction 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 completion of the transaction, the president directly owned 328,850 shares in the company, valued at $4,179,683.50. The trade was a 0.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Steven L. Cook sold 1,884 shares of the stock in a transaction 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 sale, the chief financial officer directly owned 200,512 shares in the company, valued at $2,795,137.28. This trade represents a 0.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 8,776 shares of company stock valued at $120,483 in the last three months. 6.38% of the stock is currently owned by corporate insiders.

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.