OneMedNet Insider Jeffrey Yu Acquires 16,500 Shares Amid Market Moves

Jeffrey Yu, an insider at OneMedNet Corporation (NASDAQ: ONMD), purchased 16,500 shares of the company on August 19, 2023. This acquisition took place at an average price of $0.77 per share, amounting to a total investment of $12,705. Following this transaction, Yu’s total holdings in the company rose to 6,753,910 shares, valued at approximately $5,200,510.70. This move represented a 0.24% increase in his ownership stake.

The transaction was disclosed in a filing with the U.S. Securities and Exchange Commission (SEC), which can be accessed on their official website. This disclosure aligns with regulatory requirements for transparency in trading activities by company insiders.

Market Performance and Analyst Ratings

On Thursday, August 24, 2023, OneMedNet’s stock experienced a decline of 2.7%, trading at $1.42 during mid-day sessions. A total of 298,140 shares changed hands, falling short of its average trading volume of 762,577 shares. The company’s stock has shown some volatility, with a twelve-month low of $0.30 and a high of $4.22. Currently, OneMedNet has a market capitalization of $72.43 million, a price-to-earnings ratio of -28.40, and a beta of 1.09, indicating its relative volatility compared to the market.

Analysts have been cautious regarding the stock’s performance. According to Weiss Ratings, OneMedNet received a “sell (d-)” rating in a report released on October 14, 2023. Conversely, Wall Street Zen upgraded their rating to “hold” on September 26, 2023. The consensus rating for the stock remains “sell,” according to data from MarketBeat.com.

Institutional Investment Trends

Recent investment activities by institutional investors highlight a mixed sentiment towards OneMedNet. Exencial Wealth Advisors LLC increased its stake by 3.1% during the second quarter, now holding 1,491,862 shares valued at $851,000. Additionally, Ashton Thomas Private Wealth LLC entered a new position in the company worth approximately $25,000 in the third quarter. Meanwhile, Correct Capital Wealth Management acquired a significant stake valued at around $4,910,000 during the same period.

Currently, institutional investors and hedge funds own 0.95% of OneMedNet’s stock. The varying levels of investment reflect a cautious approach as stakeholders assess the company’s growth potential in the clinical imaging sector.

OneMedNet Corporation specializes in providing clinical imaging solutions, leveraging artificial intelligence to securely de-identify, search, and curate imaging data for a network of medical and academic research institutions. This innovative approach is designed to enhance the progression of medical research and diagnostics across the life sciences field.

As the market landscape evolves, investors and analysts alike will be closely monitoring OneMedNet’s performance and strategic developments in the coming months.