Insider Buying: OneMedNet (NASDAQ:ONMD) Insider Acquires 903,614 Shares of Stock

OneMedNet Corporation (NASDAQ:ONMD) insider Jeffrey Yu purchased 903,614 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The shares were bought at an average cost of $0.83 per share, with a total value of $749,999.62. Following the transaction, the insider directly owned 8,229,837 shares of the company’s stock, valued at approximately $6,830,764.71. This represents a 12.33% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

OneMedNet Stock Performance

Shares of ONMD stock traded up $0.21 during mid-day trading on Friday, reaching $1.10. 821,198 shares of the company were exchanged, compared to its average volume of 3,251,295. OneMedNet Corporation has a fifty-two week low of $0.31 and a fifty-two week high of $4.22. The company has a market capitalization of $57.58 million, a P/E ratio of -15.64 and a beta of 1.16. The business’s 50 day simple moving average is $0.79 and its 200 day simple moving average is $1.26.

OneMedNet (NASDAQ:ONMD) last released its quarterly earnings results on Monday, March 30th. The company reported ($0.07) earnings per share for the quarter. The firm had revenue of $0.89 million for the quarter.

Hedge Funds Weigh In On OneMedNet

A number of hedge funds have recently added to or reduced their stakes in ONMD. Ashton Thomas Private Wealth LLC acquired a new position in OneMedNet in the third quarter worth $25,000. HRT Financial LP acquired a new stake in OneMedNet in the fourth quarter worth about $32,000. Virtu Financial LLC acquired a new stake in OneMedNet in the fourth quarter worth about $48,000. Jane Street Group LLC acquired a new stake in OneMedNet in the fourth quarter worth about $119,000. Finally, State Street Corp raised its position in OneMedNet by 41.5% in the fourth quarter. State Street Corp now owns 116,700 shares of the company’s stock worth $128,000 after acquiring an additional 34,200 shares in the last quarter. Institutional investors and hedge funds own 0.95% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of OneMedNet in a report on Friday, January 9th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, OneMedNet has an average rating of “Sell”.

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.