Todd Usen Acquires 207,315 Shares of Adagio Medical (NASDAQ:ADGM) Stock

Adagio Medical Holdings, Inc. (NASDAQ:ADGM) CEO Todd Usen acquired 207,315 shares of the firm’s stock in a transaction on Friday, December 12th. The stock was purchased at an average cost of $1.09 per share, with a total value of $225,973.35. Following the purchase, the chief executive officer owned 207,315 shares of the company’s stock, valued at $225,973.35. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Adagio Medical Trading Up 41.9%

ADGM opened at $1.18 on Wednesday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.68 and a current ratio of 0.84. The stock’s 50 day moving average price is $1.12 and its 200-day moving average price is $1.36. Adagio Medical Holdings, Inc. has a one year low of $0.63 and a one year high of $2.87. The stock has a market cap of $18.15 million, a price-to-earnings ratio of -0.78 and a beta of 0.16.

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

Wall Street Analysts Forecast Growth

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

Institutional Trading of Adagio Medical

A number of hedge funds have recently added to or reduced their stakes in ADGM. Adage Capital Partners GP L.L.C. bought a new position in Adagio Medical during the 1st quarter worth about $563,000. Perceptive Advisors LLC lifted its position in shares of Adagio Medical by 0.7% in the 2nd 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 during the period. Finally, Cresset Asset Management LLC bought a new position in shares of Adagio Medical during the second quarter valued at approximately $39,000. 48.08% of the stock is owned by hedge funds and other institutional investors.

Adagio Medical Company Profile

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.