Adagio Medical Holdings, Inc. (NASDAQ:ADGM) Short Interest Update

Adagio Medical Holdings, Inc. (NASDAQ:ADGM) was the recipient of a large decline in short interest in the month of January. As of January 15th, there was short interest totaling 57,675 shares, a decline of 82.4% from the December 31st total of 327,918 shares. Approximately 0.4% of the company’s shares are sold short. Based on an average daily trading volume, of 155,341 shares, the days-to-cover ratio is presently 0.4 days. Based on an average daily trading volume, of 155,341 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.4% of the company’s shares are sold short.

Insider Transactions at Adagio Medical

In other news, CEO Todd Usen bought 207,315 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The shares were purchased at an average price of $1.09 per share, with a total value of $225,973.35. Following the purchase, the chief executive officer owned 207,315 shares in the company, valued at approximately $225,973.35. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 5.20% of the company’s stock.

Institutional Trading of Adagio Medical

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Cresset Asset Management LLC acquired a new position in shares of Adagio Medical during the 2nd quarter worth about $39,000. Adage Capital Partners GP L.L.C. lifted its stake in Adagio Medical by 17.3% during the second quarter. Adage Capital Partners GP L.L.C. now owns 821,261 shares of the company’s stock worth $1,068,000 after purchasing an additional 121,261 shares during the last quarter. Finally, Perceptive Advisors LLC boosted its holdings in Adagio Medical by 0.7% in the second quarter. Perceptive Advisors LLC now owns 9,876,576 shares of the company’s stock valued at $12,840,000 after purchasing an additional 64,157 shares in the last quarter. 48.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ADGM shares. Lake Street Capital started coverage on shares of Adagio Medical in a research report on Tuesday, December 2nd. They set a “buy” rating and a $4.00 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Adagio Medical in a research report on Monday, December 22nd. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Adagio Medical has a consensus rating of “Hold” and a consensus target price of $4.00.

Adagio Medical Price Performance

Shares of NASDAQ:ADGM opened at $1.00 on Thursday. The firm’s 50 day moving average price is $0.95 and its 200 day moving average price is $1.29. The stock has a market cap of $15.38 million, a price-to-earnings ratio of -0.66 and a beta of 0.13. Adagio Medical has a fifty-two week low of $0.63 and a fifty-two week high of $2.87. The company has a quick ratio of 0.68, a current ratio of 0.84 and a debt-to-equity ratio of 1.96.

Adagio Medical (NASDAQ:ADGM) last posted its quarterly earnings results on Thursday, October 30th. The company reported ($0.66) EPS for the quarter.

Adagio Medical Company Profile

Adagio Medical, Inc (NASDAQ: ADGM) is a medical device company focused on the development and commercialization of a noninvasive system for monitoring intracranial pressure (ICP). The company’s proprietary technology uses tympanic membrane displacement to provide clinicians with real-time estimates of ICP without the risks associated with invasive catheter methods. This approach is designed to improve patient safety, reduce complications, and streamline neurological monitoring in acute and critical care settings.

At the core of Adagio Medical’s pipeline is its ADGM System, which is intended for use in hospitals, emergency departments, and other clinical environments where rapid and accurate assessment of ICP is crucial.