Omada Health (NASDAQ:OMDA) Shares Gap Down – What’s Next?

Omada Health, Inc. (NASDAQ:OMDA)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $18.45, but opened at $17.75. Omada Health shares last traded at $18.04, with a volume of 2,415,670 shares.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Omada Health in a research report on Wednesday, October 8th. Evercore ISI lifted their target price on shares of Omada Health from $27.00 to $28.00 and gave the company an “outperform” rating in a report on Friday, November 7th. BMO Capital Markets began coverage on shares of Omada Health in a report on Thursday, November 13th. They set an “outperform” rating and a $27.00 price target on the stock. Canaccord Genuity Group raised their price target on shares of Omada Health from $27.00 to $28.00 and gave the company a “buy” rating in a research report on Friday, August 8th. Finally, Baird R W upgraded shares of Omada Health to a “hold” rating in a research report on Friday, September 5th. Eight investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $26.33.

Omada Health Price Performance

The company’s 50-day moving average is $22.38.

Institutional Investors Weigh In On Omada Health

Institutional investors have recently bought and sold shares of the company. Cigna Investments Inc. New purchased a new position in shares of Omada Health in the third quarter valued at approximately $76,161,000. Perceptive Advisors LLC acquired a new position in Omada Health in the 2nd quarter valued at $44,402,000. Divisadero Street Capital Management LP acquired a new position in Omada Health in the 3rd quarter valued at $30,510,000. Loomis Sayles & Co. L P purchased a new position in Omada Health in the 2nd quarter valued at $19,948,000. Finally, BIT Capital GmbH purchased a new stake in shares of Omada Health during the third quarter worth $13,639,000.

About Omada Health

Omada’s mission is to bend the curve. Our hope is that, one day, tomorrow’s epidemiologists will notice a bend in disease curves, wonder what might be happening, and conclude that part of that impact has been Omada. As part of that mission, we strive to inspire and enable people to make lasting health changes on their own terms.