Cigna Investments Inc. New Makes New Investment in Omada Health, Inc. $OMDA

Cigna Investments Inc. New acquired a new position in Omada Health, Inc. (NASDAQ:OMDA) during the third quarter, HoldingsChannel reports. The institutional investor acquired 3,444,630 shares of the company’s stock, valued at approximately $76,161,000. Omada Health makes up about 10.7% of Cigna Investments Inc. New’s holdings, making the stock its biggest position. Cigna Investments Inc. New owned 0.06% of Omada Health at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in OMDA. Inspire Investing LLC bought a new stake in Omada Health in the third quarter valued at $452,000. Financial Enhancement Group LLC purchased a new stake in shares of Omada Health in the 3rd quarter worth about $786,000. Hudson Bay Capital Management LP bought a new stake in shares of Omada Health during the 2nd quarter valued at about $1,107,000. Oxford Asset Management LLP purchased a new position in shares of Omada Health during the second quarter valued at about $537,000. Finally, Perceptive Advisors LLC bought a new position in Omada Health in the second quarter worth about $44,402,000.

Omada Health Trading Up 0.7%

Omada Health stock opened at $15.01 on Tuesday. The business’s fifty day simple moving average is $18.32 and its two-hundred day simple moving average is $20.06. Omada Health, Inc. has a 12 month low of $14.14 and a 12 month high of $28.40. The company has a market capitalization of $869.23 million and a price-to-earnings ratio of -60.04.

Analyst Upgrades and Downgrades

OMDA has been the topic of several research reports. Barclays cut their price objective on Omada Health from $29.00 to $22.00 and set an “overweight” rating on the stock in a research report on Monday. Needham & Company LLC lifted their price target on Omada Health from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Evercore ISI increased their price objective on Omada Health from $27.00 to $28.00 and gave the stock an “outperform” rating in a report on Friday, November 7th. Morgan Stanley set a $32.00 target price on shares of Omada Health in a report on Thursday, December 18th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Omada Health in a research report on Wednesday, October 8th. Eight research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $26.33.

Insider Activity

In related news, President Wei-Li Shao sold 5,618 shares of the company’s stock in a transaction dated Monday, December 29th. The shares were sold at an average price of $16.13, for a total value of $90,618.34. Following the transaction, the president owned 69,079 shares in the company, valued at $1,114,244.27. The trade was a 7.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Omada Health Company 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.