Adagio Medical Holdings, Inc. (NASDAQ:ADGM) Short Interest Down 79.6% in March

Adagio Medical Holdings, Inc. (NASDAQ:ADGM) saw a significant drop in short interest in the month of March. As of March 13th, there was short interest totaling 15,249 shares, a drop of 79.6% from the February 26th total of 74,890 shares. Approximately 0.1% of the company’s shares are sold short. Based on an average daily volume of 52,554 shares, the short-interest ratio is presently 0.3 days.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Alyeska Investment Group L.P. acquired a new position in shares of Adagio Medical in the fourth quarter valued at approximately $1,206,000. ADAR1 Capital Management LLC acquired a new stake in shares of Adagio Medical during the fourth quarter worth $1,206,000. Armistice Capital LLC bought a new stake in Adagio Medical in the 4th quarter valued at $497,000. Hudson Bay Capital Management LP bought a new stake in Adagio Medical in the 4th quarter valued at $308,000. Finally, Adage Capital Partners GP L.L.C. boosted its stake in 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 worth $1,309,000 after purchasing an additional 200,000 shares during the period. Institutional investors own 48.08% of the company’s stock.

Adagio Medical Trading Down 2.4%

NASDAQ:ADGM opened at $1.23 on Thursday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.84 and a quick ratio of 0.68. The business’s 50-day simple moving average is $1.01 and its 200-day simple moving average is $1.17. Adagio Medical has a fifty-two week low of $0.63 and a fifty-two week high of $2.87. The stock has a market capitalization of $26.05 million, a PE ratio of -0.81 and a beta of 0.12.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Adagio Medical in a report on Monday, December 22nd. Lake Street Capital started coverage on Adagio Medical in a research note on Tuesday, December 2nd. They set a “buy” rating and a $4.00 price objective on the stock. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $4.00.

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.