Short Interest in Adagio Medical Holdings, Inc. (NASDAQ:ADGM) Decreases By 36.2%

Adagio Medical Holdings, Inc. (NASDAQ:ADGM) saw a significant decrease in short interest in October. As of October 15th, there was short interest totaling 133,400 shares, a decrease of 36.2% from the September 30th total of 209,100 shares. Based on an average trading volume of 332,800 shares, the short-interest ratio is currently 0.4 days. Currently, 0.9% of the shares of the company are short sold. Currently, 0.9% of the shares of the company are short sold. Based on an average trading volume of 332,800 shares, the short-interest ratio is currently 0.4 days.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Cresset Asset Management LLC purchased a new position in Adagio Medical during the second quarter worth about $39,000. Adage Capital Partners GP L.L.C. purchased a new position in Adagio Medical during the first quarter worth about $563,000. Finally, Perceptive Advisors LLC raised its holdings in Adagio Medical by 0.7% during the second quarter. Perceptive Advisors LLC now owns 9,876,576 shares of the company’s stock worth $12,840,000 after purchasing an additional 64,157 shares in the last quarter. 48.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Adagio Medical in a research note on Thursday, October 30th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of “Sell”.

Adagio Medical Price Performance

Shares of NASDAQ:ADGM opened at $1.09 on Tuesday. The company has a 50-day simple moving average of $1.66 and a 200-day simple moving average of $1.44. Adagio Medical has a one year low of $0.63 and a one year high of $4.20. The company has a debt-to-equity ratio of 1.96, a quick ratio of 2.13 and a current ratio of 2.50. The stock has a market capitalization of $16.76 million, a price-to-earnings ratio of -2.14 and a beta of 0.14.

Adagio Medical (NASDAQ:ADGM) last announced its earnings results on Wednesday, August 13th. The company reported ($0.35) EPS for the quarter.

About Adagio Medical

Adagio Medical Holdings, Inc, a developmental stage medical device company, focuses on the development and commercialization of ablation technologies for the treatment of cardiac arrhythmias. It offers treatment for cardiac arrhythmias, including atrial fibrillation, atrial flutter, and ventricular tachycardia.