Adagio Medical Holdings, Inc. (NASDAQ:ADGM) Sees Large Growth in Short Interest

Adagio Medical Holdings, Inc. (NASDAQ:ADGM) was the recipient of a large increase in short interest in April. As of April 15th, there was short interest totaling 50,386 shares, an increase of 106.5% from the March 31st total of 24,396 shares. Based on an average trading volume of 299,319 shares, the short-interest ratio is currently 0.2 days. Currently, 0.2% of the company’s shares are short sold.

Adagio Medical Stock Performance

ADGM opened at $1.51 on Friday. Adagio Medical has a one year low of $0.74 and a one year high of $2.58. The company has a market cap of $33.54 million, a P/E ratio of -0.87 and a beta of 0.04. 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 business’s 50-day simple moving average is $1.17 and its 200-day simple moving average is $1.10.

Adagio Medical (NASDAQ:ADGM) last released its quarterly earnings data on Friday, March 27th. The company reported ($0.21) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.10. As a group, equities research analysts expect that Adagio Medical will post -1.58 EPS for the current fiscal year.

Institutional Trading of Adagio Medical

A number of large investors have recently made changes to their positions in ADGM. Alyeska Investment Group L.P. acquired a new stake in Adagio Medical during the 4th quarter worth approximately $1,206,000. ADAR1 Capital Management LLC acquired a new stake in Adagio Medical during the 4th quarter worth approximately $1,206,000. Armistice Capital LLC acquired a new stake in Adagio Medical during the 4th quarter worth approximately $497,000. Hudson Bay Capital Management LP acquired a new stake in shares of Adagio Medical in the 4th quarter valued at approximately $308,000. Finally, Adage Capital Partners GP L.L.C. lifted its holdings in shares of Adagio Medical by 18.9% in the 4th 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 buying an additional 200,000 shares during the period. 48.08% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ADGM has been the topic of several research reports. Zacks Research raised Adagio Medical to a “hold” rating in a research note on Wednesday, April 15th. Piper Sandler started coverage on Adagio Medical in a report on Tuesday, April 14th. They set an “overweight” rating and a $3.00 price target on the stock. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Adagio Medical presently has a consensus rating of “Hold” and a consensus target price of $3.50.

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.