Omada Health, Inc. (NASDAQ:OMDA) Short Interest Down 17.2% in December

Omada Health, Inc. (NASDAQ:OMDA) was the target of a significant drop in short interest in the month of December. As of December 15th, there was short interest totaling 3,189,642 shares, a drop of 17.2% from the November 30th total of 3,852,627 shares. Based on an average daily volume of 1,699,188 shares, the days-to-cover ratio is presently 1.9 days. Approximately 5.5% of the shares of the stock are short sold. Approximately 5.5% of the shares of the stock are short sold. Based on an average daily volume of 1,699,188 shares, the days-to-cover ratio is presently 1.9 days.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on OMDA shares. Evercore ISI boosted their price objective on Omada Health from $27.00 to $28.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. BMO Capital Markets assumed coverage on Omada Health in a research note on Thursday, November 13th. They issued an “outperform” rating and a $27.00 price target on the stock. Needham & Company LLC increased their price objective on Omada Health from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Baird R W upgraded Omada Health to a “hold” rating in a report on Friday, September 5th. Finally, Morgan Stanley set a $32.00 target price on shares of Omada Health in a research note on Thursday, December 18th. Eight research 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $27.11.

Insider Activity at Omada Health

In related news, President Wei-Li Shao sold 5,618 shares of the company’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 transaction, the president owned 69,079 shares in the company, valued at $1,114,244.27. This represents a 7.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Hedge Funds Weigh In On Omada Health

A number of institutional investors have recently bought and sold shares of OMDA. Cigna Investments Inc. New purchased a new stake in shares of Omada Health in the 3rd quarter valued at approximately $76,161,000. Perceptive Advisors LLC acquired a new position in Omada Health in the second quarter valued at approximately $44,402,000. Divisadero Street Capital Management LP purchased a new position in Omada Health in the third quarter worth approximately $30,510,000. Loomis Sayles & Co. L P acquired a new stake in Omada Health during the second quarter worth $19,948,000. Finally, BIT Capital GmbH purchased a new stake in Omada Health in the third quarter valued at $13,639,000.

Omada Health Stock Performance

NASDAQ:OMDA opened at $15.78 on Friday. Omada Health has a one year low of $14.14 and a one year high of $28.40. The stock has a market cap of $913.79 million and a PE ratio of -63.12. The stock has a 50 day moving average price of $18.77 and a 200 day moving average price of $20.00.

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.