Adagio Medical Holdings, Inc. (NASDAQ:ADGM) Sees Significant Increase in Short Interest

Adagio Medical Holdings, Inc. (NASDAQ:ADGM) was the target of a large growth in short interest in February. As of February 13th, there was short interest totaling 74,411 shares, a growth of 31.5% from the January 29th total of 56,600 shares. Based on an average daily trading volume, of 55,804 shares, the short-interest ratio is presently 1.3 days. Currently, 0.4% of the company’s stock are sold short. Currently, 0.4% of the company’s stock are sold short. Based on an average daily trading volume, of 55,804 shares, the short-interest ratio is presently 1.3 days.

Adagio Medical Price Performance

ADGM stock opened at $1.00 on Monday. The business has a 50 day simple moving average of $0.99 and a 200-day simple moving average of $1.22. Adagio Medical has a 1 year low of $0.63 and a 1 year high of $2.87. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.84 and a quick ratio of 0.68. The firm has a market capitalization of $21.18 million, a PE ratio of -0.66 and a beta of 0.12.

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

Insider Activity

In other news, CEO Todd Usen acquired 207,315 shares of Adagio Medical stock in a transaction that occurred on Friday, December 12th. The stock was purchased at an average price of $1.09 per share, for a total transaction of $225,973.35. Following the purchase, the chief executive officer directly owned 207,315 shares in the company, valued at $225,973.35. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 5.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Cresset Asset Management LLC acquired a new stake in Adagio Medical during the 2nd quarter worth approximately $39,000. Geode Capital Management LLC raised its stake in shares of Adagio Medical by 88.6% in the fourth quarter. Geode Capital Management LLC now owns 68,342 shares of the company’s stock valued at $71,000 after acquiring an additional 32,100 shares in the last quarter. Perceptive Advisors LLC raised its stake in shares of 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 acquiring an additional 64,157 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its holdings in Adagio Medical by 17.3% in the second quarter. Adage Capital Partners GP L.L.C. now owns 821,261 shares of the company’s stock valued at $1,068,000 after purchasing an additional 121,261 shares during the period. Finally, Hudson Bay Capital Management LP acquired a new position in Adagio Medical during the 4th quarter worth $308,000. Hedge funds and other institutional investors own 48.08% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Adagio Medical in a research report on Monday, December 22nd. Lake Street Capital initiated 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. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Adagio Medical presently has a consensus rating of “Hold” and a consensus price target of $4.00.

About Adagio Medical

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.