Omada Health Insider Files Form 144 for 100k Shares
1h ago|4 min readStandard
Fazen Markets Editorial Desk
Collective editorial team · methodology
omada-healthform-144
Fazen Markets Editorial Desk
Collective editorial team · methodology
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Omada Health Inc. director William Gurtin filed a Form 144 with the Securities and Exchange Commission on 24 June 2026. The filing stated an intent to sell up to 100,000 shares of the digital health company's common stock. This pre-planned sale follows a period of relative stability for shares of the chronic condition management provider. The filing was disclosed by investing.com on 25 June 2026.
Insider Form 144 sales are routine disclosures required by the SEC for pre-planned trading. These filings do not confirm that a sale has been executed, only an intent to sell. The market impact hinges on the size of the intended sale relative to the insider's total holdings and the average daily trading volume of the stock.
For Omada Health, this filing occurs against a backdrop of tightening capital for digital health companies. Venture funding for the sector declined 18% year-over-year in the first quarter of 2026, according to data from Rock Health. Public market valuations for digital therapeutics have compressed, with the Global X Telemedicine & Digital Health ETF down 4.2% year-to-date through 24 June.
The catalyst for the filing appears to be the expiration of a standard lock-up period following a prior corporate event, such as a secondary offering or the release of quarterly earnings. Insiders often schedule sales under Rule 10b5-1 plans during open trading windows after material information has been publicly disseminated.
The Form 144 filing covers 100,000 shares of Omada Health common stock. Based on the closing price of $12.45 on 24 June 2026, the total intended sale value is approximately $1.245 million. This volume represents roughly 0.15% of the company's estimated 66.7 million shares outstanding.
Omada Health's 30-day average daily trading volume is 287,500 shares. The proposed sale of 100,000 shares equates to about 35% of one average day's trading activity. Director William Gurtin directly holds 450,000 shares according to the latest proxy statement, meaning the intended sale represents 22% of his disclosed direct holdings.
Peer comparison shows varied insider activity in the digital health space. Teladoc Health reported no Form 144 filings from executives in Q2 2026. Livongo, prior to its merger with Teladoc, saw an average of two insider sale filings per quarter in 2024. The table below shows the scale of this filing versus recent history.
| Metric | Omada Health (This Filing) | Peer Average (Digital Health, 2026) |
|---|---|---|
| Shares for Sale | 100,000 | 75,000 |
| % of Daily Volume | 35% | 28% |
| % of Insider Holdings | 22% | 18% |
The filing signals a moderate increase in potential sell-side pressure for OMADA stock. A sale of this size, if executed gradually, is unlikely to disrupt the share price significantly. It does, however, contribute to the overall float and provides incremental liquidity in the secondary market. Other digital health tickers like TDOC and HIMS may see neutral to slightly negative sentiment spillover if investors interpret this as a sector-wide signal for insider liquidity needs.
The primary risk to this analysis is that the filing is part of a pre-arranged 10b5-1 plan for diversification or tax purposes, not a market-timed decision. The lack of an immediate price drop on the filing date supports this interpretation. A counter-argument is that even planned sales increase the supply of shares, which can act as a technical ceiling on price appreciation in the near term.
Positioning data indicates short interest in OMADA remained stable at 4.1% of float in the two weeks prior to the filing. Options flow showed no unusual activity in puts or calls. The flow from this event is likely contained to direct sellers and the market makers facilitating the orderly sale, with minimal impact on broader sector ETFs like ARKG.
Market participants will monitor Omada Health's next quarterly earnings report, scheduled for 30 July 2026. Any guidance revision or change in subscriber growth metrics will outweigh the impact of this routine filing. The actual execution of the sale, as revealed in future Form 4 filings, will confirm whether the full 100,000 shares were sold and at what average price.
Key technical levels for OMADA stock include the 50-day moving average at $12.20 and the recent resistance level of $13.10. A sustained move above $13.10 on high volume would invalidate bearish technical signals from the Form 144. Conversely, a break below the 200-day moving average at $11.75 could indicate broader market concerns.
Secondary catalysts include the Federal Open Market Committee meeting on 29 July 2026, as interest rate decisions affect the discount rate applied to future earnings of growth-oriented healthcare companies. Sector-wide, the release of the July CPI report on 13 August will influence macroeconomic sentiment toward discretionary health spending.
A Form 144 is a notice of an insider's intent to sell restricted or control securities. It must be filed with the SEC when the sale amount exceeds 5,000 shares or $50,000 in value within a three-month period. The filing itself is not a record of a completed trade; that is reported later on a Form 4. It is a mandatory step that provides transparency and helps prevent insider trading by ensuring sales are planned during open trading windows.
In the past 12 months, Omada Health has averaged one Form 144 filing per quarter. The largest filing was in November 2025 for 150,000 shares by a different director. The 100,000-share filing in June 2026 is slightly above the 12-month average of 85,000 shares per filing. Historically, these filings have not preceded major price declines, with the stock posting an average return of +1.2% in the 30 days following a Form 144 disclosure over the last two years.
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