Adagio Medical (NASDAQ:ADGM) Trading Up 0% – Here’s What Happened

Adagio Medical Holdings, Inc. (NASDAQ:ADGM)’s share price was up 0% during mid-day trading on Monday . The stock traded as high as $1.02 and last traded at $0.9851. Approximately 9,220 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 49,675 shares. The stock had previously closed at $0.9850.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Lake Street Capital began coverage on shares of Adagio Medical in a report on Tuesday, December 2nd. They issued a “buy” rating and a $4.00 price objective on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Adagio Medical in a research note on Monday, December 22nd. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Adagio Medical currently has an average rating of “Hold” and an average price target of $4.00.

Adagio Medical Stock Performance

The company has a current ratio of 0.84, a quick ratio of 0.68 and a debt-to-equity ratio of 1.96. The firm has a market capitalization of $20.86 million, a P/E ratio of -0.65 and a beta of 0.13. The business’s 50 day simple moving average is $1.00 and its two-hundred day simple moving average is $1.23.

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

Insider Activity at Adagio Medical

In other Adagio Medical news, CEO Todd Usen purchased 207,315 shares of the firm’s stock in a transaction dated 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 completion of the purchase, 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 ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 5.20% of the company’s stock.

Institutional Investors Weigh In On Adagio Medical

Several large investors have recently bought and sold shares of the business. Armistice Capital LLC bought a new position in Adagio Medical during the 4th quarter valued at about $497,000. ADAR1 Capital Management LLC purchased a new position in shares of Adagio Medical during the fourth quarter valued at approximately $1,206,000. Adage Capital Partners GP L.L.C. lifted its position in Adagio Medical by 18.9% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,258,501 shares of the company’s stock valued at $1,309,000 after purchasing an additional 200,000 shares during the period. Hudson Bay Capital Management LP purchased a new stake in Adagio Medical in the fourth quarter worth approximately $308,000. Finally, Alyeska Investment Group L.P. bought a new stake in Adagio Medical in the 4th quarter worth approximately $1,206,000. 48.08% of the stock is currently owned by institutional investors.

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.