Short Interest in Omada Health, Inc. (NASDAQ:OMDA) Declines By 21.0%

Omada Health, Inc. (NASDAQ:OMDA) was the recipient of a large decline in short interest in the month of March. As of March 13th, there was short interest totaling 2,843,612 shares, a decline of 21.0% from the February 26th total of 3,600,814 shares. Approximately 4.8% of the company’s shares are sold short. Based on an average daily trading volume, of 2,204,266 shares, the days-to-cover ratio is presently 1.3 days.

Insider Buying and Selling

In other Omada Health news, CEO Sean P. Duffy sold 230,479 shares of the business’s stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $15.60, for a total transaction of $3,595,472.40. Following the sale, the chief executive officer directly owned 126,644 shares in the company, valued at $1,975,646.40. This represents a 64.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Steven L. Cook sold 1,884 shares of the business’s stock in a transaction dated 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 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 disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 282,840 shares of company stock valued at $4,421,313.

Hedge Funds Weigh In On Omada Health

Several large investors have recently bought and sold shares of OMDA. Quarry LP purchased a new stake in Omada Health during the 4th quarter worth about $29,000. TD Waterhouse Canada Inc. purchased a new position in shares of Omada Health in the 4th quarter valued at about $32,000. Raymond James Financial Inc. purchased a new position in shares of Omada Health in the 2nd quarter valued at about $32,000. Strs Ohio acquired a new stake in shares of Omada Health during the 3rd quarter worth about $38,000. Finally, Inlight Wealth Management LLC purchased a new stake in Omada Health during the fourth quarter worth approximately $45,000.

Analysts Set New Price Targets

OMDA has been the subject of a number of research reports. Weiss Ratings restated a “sell (d)” rating on shares of Omada Health in a report on Thursday, January 22nd. Barclays decreased their price target on shares of Omada Health from $22.00 to $17.00 and set an “overweight” rating for the company in a research report on Tuesday, March 3rd. Wells Fargo & Company assumed coverage on Omada Health in a research report on Thursday, January 8th. They set an “equal weight” rating and a $17.00 price objective on the stock. Morgan Stanley reduced their price objective on Omada Health from $32.00 to $30.00 and set an “overweight” rating on the stock in a research note on Friday, March 6th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $26.00 target price on shares of Omada Health in a report on Friday, January 16th. Eight equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $23.60.

Omada Health Stock Down 10.1%

Shares of NASDAQ:OMDA opened at $11.85 on Friday. Omada Health has a fifty-two week low of $10.28 and a fifty-two week high of $28.40. The firm’s 50 day moving average price is $13.43 and its 200 day moving average price is $17.71. The stock has a market cap of $698.20 million and a price-to-earnings ratio of -69.71.

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

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.