Omada Health, Inc. (NASDAQ:OMDA) Short Interest Up 73.6% in January

Omada Health, Inc. (NASDAQ:OMDA) was the target of a significant growth in short interest in the month of January. As of January 30th, there was short interest totaling 2,601,071 shares, a growth of 73.6% from the January 15th total of 1,498,366 shares. Currently, 4.5% of the shares of the company are short sold. Based on an average daily volume of 1,135,420 shares, the short-interest ratio is currently 2.3 days. Based on an average daily volume of 1,135,420 shares, the short-interest ratio is currently 2.3 days. Currently, 4.5% of the shares of the company are short sold.

Analysts Set New Price Targets

Several research firms recently commented on OMDA. Evercore upped their target price on shares of Omada Health from $27.00 to $28.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $26.00 price objective on shares of Omada Health in a research report on Friday, January 16th. Wells Fargo & Company initiated coverage on Omada Health in a research report on Thursday, January 8th. They set an “equal weight” rating and a $17.00 target price on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 price target on shares of Omada Health in a report on Thursday, January 22nd. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Omada Health in a research report on Thursday, January 22nd. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $25.10.

Omada Health Trading Up 0.7%

OMDA stock traded up $0.08 during trading on Friday, hitting $11.31. The company had a trading volume of 1,099,146 shares, compared to its average volume of 1,218,161. The company has a fifty day moving average price of $14.89 and a two-hundred day moving average price of $19.38. Omada Health has a fifty-two week low of $10.28 and a fifty-two week high of $28.40. The company has a market cap of $654.96 million and a P/E ratio of -45.24.

Insider Activity

In related news, CEO Sean P. Duffy sold 230,479 shares of the stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $15.60, for a total transaction of $3,595,472.40. Following the completion of the sale, the chief executive officer 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, President Wei-Li Shao sold 5,618 shares of the firm’s stock in a transaction that occurred on Monday, December 29th. The shares were sold at an average price of $16.13, for a total value of $90,618.34. Following the completion of the sale, the president directly owned 69,079 shares in the company, valued at $1,114,244.27. This trade represents a 7.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 276,893 shares of company stock valued at $4,336,787 in the last three months.

Institutional Trading of Omada Health

Several hedge funds have recently modified their holdings of OMDA. Cigna Investments Inc. New bought a new position in Omada Health in the 3rd quarter valued at $76,161,000. Fortress Investment Group LLC bought a new stake in shares of Omada Health during the second quarter worth approximately $2,878,000. Bellevue Group AG bought a new position in Omada Health in the second quarter valued at approximately $4,575,000. Federated Hermes Inc. bought a new stake in shares of Omada Health during the 2nd quarter valued at $9,150,000. Finally, Jennison Associates LLC acquired a new stake in shares of Omada Health during the second quarter worth $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.