OneMedNet (NASDAQ:ONMD) Posts Quarterly Earnings Results

OneMedNet (NASDAQ:ONMD) released its earnings results on Friday. The company reported ($0.04) earnings per share (EPS) for the quarter, FiscalAI reports. The company had revenue of $0.10 million during the quarter.

OneMedNet Stock Down 11.0%

NASDAQ ONMD traded down $0.10 during trading on Friday, hitting $0.84. 461,844 shares of the stock traded hands, compared to its average volume of 949,119. The company has a market capitalization of $43.92 million, a P/E ratio of -12.02 and a beta of 1.25. The firm has a 50-day simple moving average of $0.88 and a 200-day simple moving average of $1.09. OneMedNet has a 12-month low of $0.31 and a 12-month high of $4.22.

Insider Activity at OneMedNet

In other news, insider Jeffrey Yu purchased 903,614 shares of the business’s stock in a transaction on Wednesday, April 1st. The stock was acquired at an average price of $0.83 per share, for a total transaction of $749,999.62. Following the acquisition, the insider directly owned 8,229,837 shares of the company’s stock, valued at $6,830,764.71. This represents a 12.33% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas Kosasa purchased 280,898 shares of the business’s stock in a transaction on Thursday, April 23rd. The shares were purchased at an average price of $0.89 per share, with a total value of $249,999.22. Following the acquisition, the director directly owned 16,661,327 shares in the company, valued at $14,828,581.03. This represents a 1.71% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 46.20% of the company’s stock.

Hedge Funds Weigh In On OneMedNet

Several institutional investors have recently added to or reduced their stakes in ONMD. Correct Capital Wealth Management purchased a new position in OneMedNet during the 3rd quarter valued at approximately $4,910,000. Jane Street Group LLC purchased a new position in OneMedNet during the 4th quarter valued at approximately $119,000. Exencial Wealth Advisors LLC lifted its stake in shares of OneMedNet by 1.3% in the 4th quarter. Exencial Wealth Advisors LLC now owns 3,644,861 shares of the company’s stock valued at $4,009,000 after purchasing an additional 45,401 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of OneMedNet in the 4th quarter valued at approximately $48,000. Finally, State Street Corp lifted its stake in shares of OneMedNet by 41.5% in the 4th quarter. State Street Corp now owns 116,700 shares of the company’s stock valued at $128,000 after purchasing an additional 34,200 shares during the last quarter. Hedge funds and other institutional investors own 0.95% of the company’s stock.

OneMedNet Company Profile

OneMedNet Corporation provides clinical imaging solutions. It offers iRWD, a solution that utilizes AI to securely de-identify, search, and curate imaging data for its partner network consisting of medical and academic research institutions to generate progression in stages of medical research, discovery and diagnostics that span the field of life sciences. OneMedNet Corporation is based in Eden Prairie, Minnesota.