Omada Health (NASDAQ:OMDA) Shares Gap Up – Here’s Why

Omada Health, Inc. (NASDAQ:OMDA) shares gapped up before the market opened on Wednesday . The stock had previously closed at $11.33, but opened at $12.05. Omada Health shares last traded at $10.92, with a volume of 136,282 shares changing hands.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Evercore boosted their target price on Omada Health from $27.00 to $28.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Weiss Ratings reissued a “sell (d)” rating on shares of Omada Health in a research report on Thursday, January 22nd. The Goldman Sachs Group restated a “buy” rating and issued a $26.00 price objective on shares of Omada Health in a report on Friday, January 16th. Morgan Stanley set a $32.00 target price on shares of Omada Health in a research note on Thursday, December 18th. Finally, BMO Capital Markets started coverage on shares of Omada Health in a research report on Thursday, November 13th. They set an “outperform” rating and a $27.00 price target on the stock. Eight equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $25.10.

Omada Health Trading Down 5.3%

The company has a market capitalization of $621.35 million and a P/E ratio of -42.92. The company’s 50 day moving average is $15.24 and its 200-day moving average is $19.54.

Insider Buying and Selling

In other news, CEO Sean P. Duffy sold 230,479 shares of Omada Health stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer directly owned 126,644 shares in the company, valued at approximately $1,975,646.40. This trade represents a 64.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Wei-Li Shao sold 5,618 shares of the company’s stock in a transaction that occurred on Monday, December 29th. The stock was sold at an average price of $16.13, for a total value of $90,618.34. Following the completion of the sale, the president owned 69,079 shares in the company, valued at $1,114,244.27. The trade was a 7.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 276,893 shares of company stock valued at $4,336,787 in the last ninety days.

Hedge Funds Weigh In On Omada Health

Institutional investors and hedge funds have recently modified their holdings of the stock. Strs Ohio bought a new position in Omada Health in the 3rd quarter worth about $38,000. Raymond James Financial Inc. purchased a new position in Omada Health in the second quarter worth about $32,000. TD Waterhouse Canada Inc. bought a new position in shares of Omada Health in the fourth quarter worth approximately $32,000. Rakuten Investment Management Inc. purchased a new stake in shares of Omada Health during the third quarter valued at approximately $49,000. Finally, Inlight Wealth Management LLC bought a new stake in shares of Omada Health during the fourth quarter valued at approximately $45,000.

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.