Omada Health (NASDAQ:OMDA) Shares Gap Up – Still a Buy?

Omada Health, Inc. (NASDAQ:OMDA)’s share price 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.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. The Goldman Sachs Group reaffirmed a “buy” rating and set a $26.00 price objective on shares of Omada Health in a report on Friday, January 16th. Evercore increased their price target on shares of 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 restated a “sell (d)” rating on shares of Omada Health in a research report on Thursday, January 22nd. BMO Capital Markets assumed coverage on shares of Omada Health in a research report on Thursday, November 13th. They set an “outperform” rating and a $27.00 target price on the stock. Finally, Wells Fargo & Company assumed coverage on shares of Omada Health in a research report on Thursday, January 8th. They set an “equal weight” rating and a $17.00 target price for the company. Eight analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $25.10.

Omada Health Price Performance

The stock has a market capitalization of $654.96 million and a price-to-earnings ratio of -45.24. The business has a 50 day simple moving average of $14.89 and a 200-day simple moving average of $19.37.

Insiders Place Their Bets

In other Omada Health news, President Wei-Li Shao sold 5,618 shares of Omada Health stock in a transaction dated Monday, December 29th. The stock was sold at an average price of $16.13, for a total value of $90,618.34. Following the sale, the president owned 69,079 shares of the company’s stock, valued at $1,114,244.27. This trade represents a 7.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sean P. Duffy sold 230,479 shares of the business’s stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $15.60, for a total value of $3,595,472.40. Following the completion of the sale, the chief executive officer owned 126,644 shares in the company, valued at $1,975,646.40. The trade was a 64.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 276,893 shares of company stock valued at $4,336,787.

Hedge Funds Weigh In On Omada Health

Institutional investors have recently bought and sold shares of the business. Marshall Wace LLP acquired a new position in shares of Omada Health during the 4th quarter worth approximately $3,442,000. Archon Capital Management LLC lifted its position in Omada Health by 125.1% during the fourth quarter. Archon Capital Management LLC now owns 678,120 shares of the company’s stock worth $10,701,000 after acquiring an additional 376,808 shares during the last quarter. AlpInvest Partners B.V. acquired a new position in shares of Omada Health in the fourth quarter valued at approximately $850,000. Walleye Capital LLC lifted its holdings in Omada Health by 59.1% during the 4th quarter. Walleye Capital LLC now owns 45,346 shares of the company’s stock worth $716,000 after purchasing an additional 16,846 shares during the last quarter. Finally, Quarry LP bought a new position in Omada Health during the 4th quarter worth $29,000.

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.