Omada Health, Inc. (NASDAQ:OMDA) Short Interest Down 54.4% in January

Omada Health, Inc. (NASDAQ:OMDA) was the recipient of a significant decline in short interest in the month of 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. Based on an average trading volume of 903,681 shares, the short-interest ratio is currently 1.7 days. Currently, 2.6% of the company’s shares are sold short. Currently, 2.6% of the company’s shares are sold short. Based on an average trading volume of 903,681 shares, the short-interest ratio is currently 1.7 days.

Omada Health Trading Up 1.6%

NASDAQ OMDA opened at $15.65 on Thursday. The business’s 50-day moving average price is $16.19 and its two-hundred day moving average price is $19.87. The firm has a market capitalization of $906.29 million and a PE ratio of -62.60. Omada Health has a 12 month low of $14.14 and a 12 month high of $28.40.

Insider Transactions at Omada Health

In other news, CEO Sean P. Duffy sold 40,796 shares of Omada Health stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $15.95, for a total value of $650,696.20. Following the completion of the sale, the chief executive officer directly owned 126,644 shares in the company, valued at approximately $2,019,971.80. The trade was a 24.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Wei-Li Shao sold 5,618 shares of the business’s stock in a transaction dated Monday, December 29th. The stock was sold at an average price of $16.13, for a total value of $90,618.34. Following the transaction, the president directly owned 69,079 shares of the company’s stock, valued at approximately $1,114,244.27. The trade was a 7.52% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 276,893 shares of company stock worth $4,336,787.

Hedge Funds Weigh In On Omada Health

Institutional investors have recently made changes to their positions in the stock. TD Waterhouse Canada Inc. acquired a new stake in Omada Health in the fourth quarter valued at approximately $32,000. Raymond James Financial Inc. acquired a new stake in shares of Omada Health in the 2nd quarter worth about $32,000. Strs Ohio bought a new stake in Omada Health during the 3rd quarter worth approximately $38,000. Inlight Wealth Management LLC bought a new position in shares of Omada Health in the fourth quarter valued at approximately $45,000. Finally, Rakuten Investment Management Inc. purchased a new stake in Omada Health in the 3rd quarter valued at $49,000.

Analyst Upgrades and Downgrades

OMDA has been the subject of a number of research analyst reports. Evercore ISI upped their price objective on shares of Omada Health from $27.00 to $28.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. Barclays decreased their target price on shares of Omada Health from $29.00 to $22.00 and set an “overweight” rating on the stock in a research note on Monday, January 5th. Weiss Ratings reiterated a “sell (d)” rating on shares of Omada Health in a research note on Thursday, January 22nd. Needham & Company LLC reissued a “buy” rating and set a $28.00 price objective on shares of Omada Health in a report on Thursday, January 22nd. Finally, BMO Capital Markets started coverage on Omada Health in a report on Thursday, November 13th. They issued an “outperform” rating and a $27.00 target price for the company. Eight analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.10.

About Omada Health

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.