Adagio Medical Holdings, Inc. (NASDAQ:ADGM) Stock Short Interest Report for October

Adagio Medical Holdings, Inc. (NASDAQ:ADGM) was the recipient of a significant decrease in short interest in October. As of October 15th, there was short interest totaling 132,959 shares, a decrease of 89.7% from the September 30th total of 1,287,260 shares. Based on an average daily trading volume, of 4,090,807 shares, the short-interest ratio is currently 0.0 days. Approximately 0.5% of the company’s stock are sold short.

Hedge Funds Weigh In On Adagio Medical

An institutional investor recently bought a new position in Adagio Medical stock. ADAR1 Capital Management LLC bought a new position in Adagio Medical Holdings, Inc. (NASDAQ:ADGM) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 1,205,447 shares of the company’s stock, valued at approximately $785,000. ADAR1 Capital Management LLC owned 5.43% of Adagio Medical as of its most recent filing with the SEC. 48.08% of the stock is currently owned by hedge funds and other institutional investors.

Adagio Medical Stock Performance

NASDAQ ADGM traded down $0.00 on Tuesday, reaching $0.10. 151,914 shares of the stock were exchanged, compared to its average volume of 3,070,861. The company has a current ratio of 1.41, a quick ratio of 1.15 and a debt-to-equity ratio of 4.00. Adagio Medical has a one year low of $0.08 and a one year high of $1.69. The firm has a market capitalization of $2.63 million, a PE ratio of -0.06 and a beta of 0.01. The company’s 50-day simple moving average is $0.35 and its two-hundred day simple moving average is $0.77.

Adagio Medical (NASDAQ:ADGM) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.03). Analysts expect that Adagio Medical will post -1.25 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Weiss Ratings cut shares of Adagio Medical from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, August 19th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $3.50.

About Adagio Medical

Adagio Medical, Inc is a medical technology company focused on developing catheter-based treatments for cardiac arrhythmias, including atrial fibrillation. The company’s technology is designed to create continuous, transmural lesions in cardiac tissue to isolate abnormal electrical signals and help restore a normal heart rhythm.

Its lead platform is the Intelligent Continuous Lesion Ablation System (iCLAS), an ultra-low-temperature cryoablation system intended to treat atrial fibrillation and other heart rhythm disorders.