OneMedNet (NASDAQ:ONMD) Issues Quarterly Earnings Results

OneMedNet (NASDAQ:ONMD) posted its quarterly earnings data on Friday. The company reported ($0.04) earnings per share for the quarter, FiscalAI reports. The business had revenue of $0.29 million for the quarter.

OneMedNet Stock Up 0.5%

OneMedNet stock opened at $0.78 on Friday. The business’s 50-day simple moving average is $0.67 and its 200 day simple moving average is $0.77. The stock has a market cap of $44.49 million, a price-to-earnings ratio of -4.88 and a beta of 1.14. OneMedNet has a 12-month low of $0.49 and a 12-month high of $4.22.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of OneMedNet in a research note on Monday, June 1st. Wall Street Zen cut shares of OneMedNet from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

Insider Activity

In other news, Director Thomas Kosasa acquired 1,449,275 shares of the company’s stock in a transaction on Thursday, July 30th. The stock was purchased at an average cost of $0.69 per share, with a total value of $999,999.75. Following the acquisition, the director owned 18,538,150 shares of the company’s stock, valued at $12,791,323.50. This trade represents a 8.48% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jeffrey Yu bought 158,730 shares of OneMedNet stock in a transaction dated Tuesday, June 23rd. The stock was acquired at an average cost of $0.63 per share, for a total transaction of $99,999.90. Following the purchase, the insider directly owned 8,780,410 shares in the company, valued at approximately $5,531,658.30. The trade was a 1.84% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 2,300,238 shares of company stock valued at $1,601,664 over the last three months. Company insiders own 46.20% of the company’s stock.

Hedge Funds Weigh In On OneMedNet

Large investors have recently bought and sold shares of the business. Exencial Wealth Advisors LLC boosted its stake in OneMedNet by 1.3% in the fourth quarter. Exencial Wealth Advisors LLC now owns 3,644,861 shares of the company’s stock valued at $4,009,000 after acquiring an additional 45,401 shares during the last quarter. HRT Financial LP bought a new stake in shares of OneMedNet during the 4th quarter valued at $32,000. Jane Street Group LLC bought a new stake in shares of OneMedNet during the 4th quarter valued at $119,000. State Street Corp lifted its stake in shares of OneMedNet by 41.5% in the 4th quarter. State Street Corp now owns 116,700 shares of the company’s stock valued at $128,000 after purchasing an additional 34,200 shares during the period. Finally, Virtu Financial LLC acquired a new position in shares of OneMedNet in the 4th quarter valued at $48,000. 0.95% of the stock is currently owned by institutional investors and hedge funds.

OneMedNet Company Profile

OneMedNet Corporation provides clinical imaging solutions. It offers iRWD, a solution that utilizes AI to securely de-identify, search, and curate imaging data for its partner network consisting of medical and academic research institutions to generate progression in stages of medical research, discovery and diagnostics that span the field of life sciences. OneMedNet Corporation is based in Eden Prairie, Minnesota.