Omada Health (NASDAQ:OMDA) Trading Down 5.1% – Should You Sell?

Omada Health, Inc. (NASDAQ:OMDA) shares were down 5.1% during mid-day trading on Monday . The company traded as low as $16.47 and last traded at $16.59. Approximately 385,209 shares changed hands during mid-day trading, a decline of 40% from the average daily volume of 642,158 shares. The stock had previously closed at $17.49.

Wall Street Analyst Weigh In

Several brokerages have recently commented on OMDA. Baird R W raised Omada Health to a “hold” rating in a research note on Friday, September 5th. 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 research report on Friday, November 7th. Weiss Ratings reissued a “sell (d)” rating on shares of Omada Health in a report on Wednesday, October 8th. BMO Capital Markets assumed coverage on shares of Omada Health in a report on Thursday, November 13th. They set an “outperform” rating and a $27.00 price objective for the company. Finally, Needham & Company LLC increased their target price on Omada Health from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $26.33.

Omada Health Price Performance

The company has a fifty day moving average of $21.62.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cigna Investments Inc. New acquired a new stake in Omada Health in the 3rd quarter worth approximately $76,161,000. Perceptive Advisors LLC acquired a new stake in Omada Health during the 2nd quarter worth about $44,402,000. Divisadero Street Capital Management LP purchased a new position in shares of Omada Health during the 3rd quarter valued at about $30,510,000. Loomis Sayles & Co. L P purchased a new stake in shares of Omada Health in the second quarter worth about $19,948,000. Finally, BIT Capital GmbH purchased a new position in shares of Omada Health during the 3rd quarter valued at approximately $13,639,000.

Omada Health Company Profile

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.