Adagio Medical Holdings, Inc. (NASDAQ:ADGM) Short Interest Down 82.4% in January

Adagio Medical Holdings, Inc. (NASDAQ:ADGM) was the target of a large decline in short interest during 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 shares of the company are short sold. Based on an average trading volume of 155,341 shares, the days-to-cover ratio is presently 0.4 days. Based on an average trading volume of 155,341 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.4% of the shares of the company are short sold.

Insiders Place Their Bets

In other Adagio Medical news, CEO Todd Usen purchased 207,315 shares of the business’s stock in a transaction on Friday, December 12th. The stock was acquired at an average price of $1.09 per share, with a total value of $225,973.35. Following the acquisition, the chief executive officer directly owned 207,315 shares of the company’s stock, valued at $225,973.35. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 5.20% of the company’s stock.

Institutional Inflows and Outflows

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

Adagio Medical Stock Performance

NASDAQ ADGM opened at $1.00 on Wednesday. The firm has a 50-day moving average price of $0.95 and a two-hundred day moving average price of $1.30. Adagio Medical has a 12-month low of $0.63 and a 12-month high of $2.87. The company has a market capitalization of $15.38 million, a P/E ratio of -0.66 and a beta of 0.13. 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 released its quarterly earnings results on Thursday, October 30th. The company reported ($0.66) earnings per share for the quarter.

Analyst Upgrades and Downgrades

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