Insider Buying: Adagio Medical (NASDAQ:ADGM) CEO Buys $225,973.35 in Stock

Adagio Medical Holdings, Inc. (NASDAQ:ADGM) CEO Todd Usen purchased 207,315 shares of Adagio Medical stock in a transaction dated Friday, December 12th. The shares were bought at an average price of $1.09 per share, for a total transaction of $225,973.35. Following the acquisition, the chief executive officer owned 207,315 shares in the company, valued at approximately $225,973.35. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Adagio Medical Trading Up 3.1%

Shares of ADGM stock opened at $1.22 on Thursday. The company has a current ratio of 0.84, a quick ratio of 0.68 and a debt-to-equity ratio of 1.96. Adagio Medical Holdings, Inc. has a twelve month low of $0.63 and a twelve month high of $2.87. The company’s 50-day moving average price is $1.10 and its 200-day moving average price is $1.36. The stock has a market cap of $18.70 million, a price-to-earnings ratio of -0.80 and a beta of 0.16.

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on ADGM. Lake Street Capital began coverage on 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 report on Monday. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Adagio Medical currently has an average rating of “Hold” and a consensus target price of $4.00.

Hedge Funds Weigh In On Adagio Medical

A number of hedge funds have recently made changes to their positions in ADGM. Adage Capital Partners GP L.L.C. acquired a new position in Adagio Medical during the first quarter worth $563,000. Perceptive Advisors LLC grew its stake in shares of Adagio Medical by 0.7% in the second quarter. Perceptive Advisors LLC now owns 9,876,576 shares of the company’s stock valued at $12,840,000 after buying an additional 64,157 shares in the last quarter. Finally, Cresset Asset Management LLC purchased a new stake in shares of Adagio Medical in the 2nd quarter valued at $39,000. Hedge funds and other institutional investors own 48.08% of the company’s stock.

About Adagio Medical

Adagio Medical Holdings, Inc, a developmental stage medical device company, focuses on the development and commercialization of ablation technologies for the treatment of cardiac arrhythmias. It offers treatment for cardiac arrhythmias, including atrial fibrillation, atrial flutter, and ventricular tachycardia.