Short Interest in Omada Health, Inc. (NASDAQ:OMDA) Decreases By 17.2%

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

Insider Transactions at Omada Health

In other Omada Health news, President Wei-Li Shao sold 5,618 shares of the firm’s stock in a transaction dated Monday, December 29th. The stock was sold at an average price of $16.13, for a total transaction of $90,618.34. Following the sale, the president directly owned 69,079 shares of the company’s stock, valued at $1,114,244.27. This trade represents a 7.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. bought a new position in Omada Health in the second quarter worth approximately $32,000. Strs Ohio acquired a new position in shares of Omada Health in the third quarter valued at about $38,000. Rakuten Investment Management Inc. purchased a new stake in shares of Omada Health in the 3rd quarter valued at $49,000. JPMorgan Chase & Co. purchased a new stake in Omada Health in the 3rd quarter worth $82,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Omada Health during the third quarter worth about $95,000.

Omada Health Price Performance

Shares of OMDA stock traded up $0.44 on Wednesday, reaching $15.78. 1,505,787 shares of the company’s stock were exchanged, compared to its average volume of 685,991. The company’s fifty day simple moving average is $19.15 and its 200 day simple moving average is $20.06. Omada Health has a 52 week low of $14.14 and a 52 week high of $28.40.

Analyst Ratings Changes

OMDA has been the topic of several research analyst reports. Needham & Company LLC boosted their target price on shares of Omada Health from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Omada Health in a research note on Wednesday, October 8th. Barclays upped their price objective on Omada Health from $28.00 to $29.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Robert W. Baird began coverage on shares of Omada Health in a research note on Friday, September 5th. They set a “neutral” rating and a $24.00 price target on the stock. Finally, Morgan Stanley set a $32.00 price objective on shares of Omada Health in a research note on Thursday, December 18th. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Omada Health has a consensus rating of “Moderate Buy” and an average target price of $27.11.

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.