Adagio Medical (NASDAQ:ADGM) Trading Up 11.5% – Time to Buy?

Adagio Medical Holdings, Inc. (NASDAQ:ADGM)’s share price traded up 11.5% during mid-day trading on Tuesday . The stock traded as high as $1.3732 and last traded at $1.26. 157,548 shares traded hands during mid-day trading, an increase of 166% from the average session volume of 59,314 shares. The stock had previously closed at $1.13.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Adagio Medical in a research report on Monday, December 22nd. Lake Street Capital started coverage on Adagio Medical in a report on Tuesday, December 2nd. They issued a “buy” rating and a $4.00 target price for the company. One 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, the stock has a consensus rating of “Hold” and a consensus target price of $4.00.

Adagio Medical Stock Performance

The business’s fifty day moving average price is $1.00 and its 200-day moving average price is $1.17. The stock has a market cap of $26.69 million, a PE ratio of -0.83 and a beta of 0.12. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.68 and a current ratio of 0.84.

Institutional Investors Weigh In On Adagio Medical

Several institutional investors and hedge funds have recently added to or reduced their stakes in ADGM. Perceptive Advisors LLC grew its position in 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. Adage Capital Partners GP L.L.C. lifted its holdings in shares of Adagio Medical by 18.9% during 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. Alyeska Investment Group L.P. purchased a new position in shares of Adagio Medical in the 4th quarter worth $1,206,000. ADAR1 Capital Management LLC purchased a new position in shares of Adagio Medical in the 4th quarter worth $1,206,000. Finally, Armistice Capital LLC bought a new stake in shares of Adagio Medical in the fourth quarter worth $497,000. Hedge funds and other institutional investors own 48.08% of the company’s stock.

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.