Short Interest in Adagio Medical Holdings, Inc. (NASDAQ:ADGM) Rises By 60.0%

Adagio Medical Holdings, Inc. (NASDAQ:ADGM) was the recipient of a large increase in short interest during the month of March. As of March 31st, there was short interest totaling 24,396 shares, an increase of 60.0% from the March 15th total of 15,249 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average daily volume of 64,311 shares, the days-to-cover ratio is presently 0.4 days.

Hedge Funds Weigh In On Adagio Medical

Hedge funds have recently bought and sold shares of the business. Cresset Asset Management LLC bought a new stake in shares of Adagio Medical during the 2nd quarter valued at about $39,000. Adage Capital Partners GP L.L.C. grew its stake 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 valued at $1,068,000 after acquiring an additional 121,261 shares during the period. Perceptive Advisors LLC grew its stake 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 valued at $12,840,000 after acquiring an additional 64,157 shares during the period. Geode Capital Management LLC grew its stake in shares of Adagio Medical by 88.6% during the 4th 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 during the period. Finally, Alyeska Investment Group L.P. bought a new position in shares of Adagio Medical during the 4th quarter valued at approximately $1,206,000. Hedge funds and other institutional investors own 48.08% of the company’s stock.

Adagio Medical Price Performance

Shares of NASDAQ:ADGM opened at $1.33 on Tuesday. Adagio Medical has a fifty-two week low of $0.74 and a fifty-two week high of $2.87. The business has a 50-day simple moving average of $1.08 and a two-hundred day simple moving average of $1.13. The company has a debt-to-equity ratio of 1.70, a quick ratio of 2.24 and a current ratio of 2.44. The firm has a market cap of $29.54 million, a price-to-earnings ratio of -0.77 and a beta of 0.04.

Adagio Medical (NASDAQ:ADGM) last issued its earnings results on Friday, March 27th. The company reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.10.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Adagio Medical in a research report on Monday, December 22nd. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average 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.