Omada Health, Inc. $OMDA Shares Sold by Perceptive Advisors LLC

Perceptive Advisors LLC decreased its stake in Omada Health, Inc. (NASDAQ:OMDA) by 67.2% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 786,330 shares of the company’s stock after selling 1,610,000 shares during the period. Perceptive Advisors LLC’s holdings in Omada Health were worth $9,884,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in Omada Health during the 2nd quarter worth $32,000. Quarry LP acquired a new position in Omada Health in the fourth quarter valued at $29,000. TD Waterhouse Canada Inc. acquired a new position in Omada Health in the fourth quarter valued at $32,000. Inlight Wealth Management LLC purchased a new position in shares of Omada Health during the fourth quarter worth about $45,000. Finally, JPMorgan Chase & Co. acquired a new stake in shares of Omada Health during the third quarter worth about $82,000.

Omada Health Stock Performance

Shares of NASDAQ:OMDA opened at $19.84 on Friday. Omada Health, Inc. has a one year low of $10.28 and a one year high of $26.92. The stock has a market capitalization of $1.18 billion and a price-to-earnings ratio of -73.48. The company has a 50-day simple moving average of $19.99 and a 200-day simple moving average of $16.03.

Omada Health (NASDAQ:OMDA) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. The firm had revenue of $78.05 million for the quarter. Omada Health had a negative return on equity of 1.82% and a negative net margin of 2.22%. As a group, research analysts forecast that Omada Health, Inc. will post -0.01 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Barclays boosted their target price on Omada Health from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Canaccord Genuity Group lifted their price target on Omada Health from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Citigroup reiterated an “outperform” rating on shares of Omada Health in a research note on Monday, July 20th. The Goldman Sachs Group reissued a “buy” rating on shares of Omada Health in a report on Friday, May 8th. Finally, Weiss Ratings lowered shares of Omada Health from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, July 13th. Eleven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Omada Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.33.

Insiders Place Their Bets

In other news, CAO Craig Gracey sold 2,083 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $21.00, for a total value of $43,743.00. Following the transaction, the chief accounting officer owned 858 shares of the company’s stock, valued at approximately $18,018. The trade was a 70.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Steven L. Cook sold 12,337 shares of the company’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $23.09, for a total value of $284,861.33. Following the sale, the chief financial officer owned 187,209 shares of the company’s stock, valued at $4,322,655.81. This trade represents a 6.18% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 193,462 shares of company stock valued at $3,927,425. 6.38% of the stock is owned by company insiders.

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.