a16z Perennial Management L.P. Makes New Investment in Omada Health, Inc. $OMDA

Key Points

• a16z Perennial Management disclosed a new fourth-quarter stake in Omada Health, buying 157,132 shares valued at about $2.48 million and representing roughly 0.27% of the company.
• Several other institutional investors also added to or initiated positions, including BNP Paribas Financial Markets, Madryn Asset Management, and Norges Bank, signaling broader fund interest in the stock.
• Wall Street sentiment remains positive overall: Omada Health has 10 Buy ratings, 2 Holds, and 1 Sell, with an average Moderate Buy rating and price target of $22.91.

a16z Perennial Management L.P. purchased a new stake in Omada Health, Inc. (NASDAQ:OMDA - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 157,132 shares of the company's stock, valued at approximately $2,480,000. a16z Perennial Management L.P. owned about 0.27% of Omada Health at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. BNP Paribas Financial Markets increased its holdings in shares of Omada Health by 3,209.8% in the 4th quarter. BNP Paribas Financial Markets now owns 416,603 shares of the company's stock valued at $6,574,000 after acquiring an additional 404,016 shares during the last quarter. Norges Bank bought a new stake in shares of Omada Health in the 4th quarter valued at approximately $899,000. Madryn Asset Management LP bought a new stake in shares of Omada Health in the 4th quarter valued at approximately $9,212,000. Sectoral Asset Management Inc. increased its holdings in shares of Omada Health by 32.7% in the 4th quarter. Sectoral Asset Management Inc. now owns 36,500 shares of the company's stock valued at $576,000 after acquiring an additional 9,000 shares during the last quarter. Finally, Blue Owl Capital Holdings LP bought a new stake in shares of Omada Health in the 4th quarter valued at approximately $243,000.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Needham & Company LLC restated a "buy" rating and set a $28.00 price objective on shares of Omada Health in a research report on Friday, May 8th. Evercore restated an "outperform" rating and set a $20.00 price objective on shares of Omada Health in a research report on Friday, May 8th. JPMorgan Chase & Co. reduced their price objective on Omada Health from $32.00 to $26.00 and set an "overweight" rating for the company in a research report on Thursday, March 12th. Citizens Jmp boosted their price objective on Omada Health from $18.00 to $21.00 and gave the company a "market outperform" rating in a research report on Friday, May 8th. Finally, Citigroup reiterated an "outperform" rating on shares of Omada Health in a research report on Friday, May 8th. Ten analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $22.91.

Insider Activity

In other news, CEO Sean P. Duffy sold 4,063 shares of Omada Health stock in a transaction on Monday, March 9th. The stock was sold at an average price of $14.34, for a total transaction of $58,263.42. Following the transaction, the chief executive officer owned 117,598 shares in the company, valued at approximately $1,686,355.32. The trade was a 3.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Wei-Li Shao sold 2,829 shares of Omada Health stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $12.71, for a total value of $35,956.59. Following the transaction, the president owned 328,850 shares in the company, valued at $4,179,683.50. This represents a 0.85% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 8,776 shares of company stock worth $120,483. 6.38% of the stock is owned by corporate insiders.

Omada Health Stock Performance

OMDA opened at $17.97 on Monday. Omada Health, Inc. has a one year low of $10.28 and a one year high of $28.40. The stock's fifty day moving average is $14.39 and its 200-day moving average is $14.93. The company has a market capitalization of $1.07 billion and a PE ratio of -66.56.

Omada Health (NASDAQ:OMDA - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.03. The business had revenue of $78.05 million during the quarter. Omada Health had a negative return on equity of 1.82% and a negative net margin of 2.22%. On average, equities research analysts forecast that Omada Health, Inc. will post -0.01 EPS for the current fiscal year.

Omada Health Profile

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.

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