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

Omada Health, Inc. (NASDAQ:OMDA) was the target of a large decrease in short interest in January. As of January 15th, there was short interest totaling 1,498,366 shares, a decrease of 54.4% from the December 31st total of 3,282,838 shares. Based on an average daily trading volume, of 903,681 shares, the days-to-cover ratio is presently 1.7 days. Currently, 2.6% of the company’s stock are sold short. Currently, 2.6% of the company’s stock are sold short. Based on an average daily trading volume, of 903,681 shares, the days-to-cover ratio is presently 1.7 days.

Wall Street Analyst Weigh In

OMDA has been the subject of a number of recent research reports. BMO Capital Markets started coverage on shares of Omada Health in a research note on Thursday, November 13th. They issued an “outperform” rating and a $27.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and issued a $28.00 price target on shares of Omada Health in a report on Thursday, January 22nd. The Goldman Sachs Group restated a “buy” rating and set a $26.00 price objective on shares of Omada Health in a research note on Friday, January 16th. Morgan Stanley set a $32.00 price objective on Omada Health in a research report on Thursday, December 18th. Finally, Evercore ISI boosted their target price on shares of Omada Health from $27.00 to $28.00 and gave the stock an “outperform” rating in a report on Friday, November 7th. Eight equities research 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. Based on data from MarketBeat, Omada Health currently has an average rating of “Moderate Buy” and an average target price of $25.10.

Omada Health Stock Performance

NASDAQ:OMDA traded down $0.09 during mid-day trading on Friday, hitting $14.95. 1,064,878 shares of the company’s stock traded hands, compared to its average volume of 979,536. The company has a fifty day moving average of $16.06 and a 200 day moving average of $19.81. Omada Health has a twelve month low of $14.14 and a twelve month high of $28.40. The company has a market capitalization of $865.75 million and a P/E ratio of -59.80.

Insider Buying and Selling at Omada Health

In other Omada Health news, CEO Sean P. Duffy sold 230,479 shares of the 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 transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Wei-Li Shao sold 5,618 shares of the business’s stock in a transaction dated Monday, December 29th. The shares were sold at an average price of $16.13, for a total transaction of $90,618.34. Following the completion of the sale, the president owned 69,079 shares of the company’s stock, valued at approximately $1,114,244.27. This represents a 7.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 276,893 shares of company stock worth $4,336,787.

Institutional Trading of Omada Health

A number of institutional investors have recently bought and sold shares of OMDA. Cigna Investments Inc. New acquired a new stake in Omada Health during the 3rd quarter worth about $76,161,000. Fortress Investment Group LLC acquired a new stake in shares of Omada Health during the second quarter worth about $2,878,000. Bellevue Group AG purchased a new stake in Omada Health in the second quarter valued at approximately $4,575,000. Federated Hermes Inc. acquired a new position in Omada Health in the 2nd quarter worth approximately $9,150,000. Finally, Jennison Associates LLC acquired a new position in Omada Health in the 2nd quarter worth approximately $4,580,000.

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.