Stifel Nicolaus Lowers Adagio Therapeutics (NASDAQ:ADGI) Price Target to $5.00

Adagio Therapeutics (NASDAQ:ADGIGet Rating) had its target price trimmed by Stifel Nicolaus from $9.00 to $5.00 in a research note published on Friday morning, The Fly reports.

Adagio Therapeutics stock traded up $0.06 during trading hours on Friday, hitting $2.72. The company had a trading volume of 1,726,925 shares, compared to its average volume of 1,304,834. The firm’s fifty day moving average is $3.81 and its 200-day moving average is $10.83. Adagio Therapeutics has a fifty-two week low of $2.46 and a fifty-two week high of $78.82.

A number of institutional investors have recently added to or reduced their stakes in ADGI. Advisor Group Holdings Inc. acquired a new position in Adagio Therapeutics in the 1st quarter valued at approximately $34,000. ProShare Advisors LLC acquired a new position in shares of Adagio Therapeutics during the 1st quarter worth $51,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Adagio Therapeutics during the 4th quarter worth $55,000. Strs Ohio increased its stake in shares of Adagio Therapeutics by 189.6% during the 1st quarter. Strs Ohio now owns 13,900 shares of the company’s stock worth $63,000 after purchasing an additional 9,100 shares during the last quarter. Finally, Hellman Jordan Management Co. Inc. MA acquired a new position in shares of Adagio Therapeutics during the 4th quarter worth $73,000. Hedge funds and other institutional investors own 88.72% of the company’s stock.

Adagio Therapeutics Company Profile (Get Rating)

Adagio Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of antibody-based solutions for infectious diseases in the United States. The company's lead product candidate is the ADG20 (adintrevimab), a neutralizing antibody that is in Phase 3 clinical trials for the treatment and prevention of coronavirus disease.

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