Adagio Medical Holdings, Inc. (NASDAQ:ADGM) Short Interest Down 25.8% in December

Adagio Medical Holdings, Inc. (NASDAQ:ADGM) was the recipient of a large drop in short interest in December. As of December 31st, there was short interest totaling 327,918 shares, a drop of 25.8% from the December 15th total of 441,789 shares. Currently, 2.2% of the shares of the stock are sold short. Based on an average daily volume of 369,039 shares, the days-to-cover ratio is presently 0.9 days. Based on an average daily volume of 369,039 shares, the days-to-cover ratio is presently 0.9 days. Currently, 2.2% of the shares of the stock are sold short.

Adagio Medical Stock Performance

NASDAQ:ADGM opened at $0.91 on Monday. The company has a market cap of $14.00 million, a P/E ratio of -0.60 and a beta of 0.13. The firm’s 50 day moving average is $0.93 and its two-hundred day moving average is $1.33. Adagio Medical has a fifty-two week low of $0.63 and a fifty-two week high of $2.87. The company has a quick ratio of 0.68, a current ratio of 0.84 and a debt-to-equity ratio of 1.96.

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

Wall Street Analysts Forecast Growth

ADGM has been the subject of a number of analyst reports. 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 shares of Adagio Medical in a research note on Tuesday, December 2nd. They issued a “buy” rating and a $4.00 target price for the company. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $4.00.

Insider Buying and Selling

In other news, CEO Todd Usen bought 207,315 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The stock was purchased at an average price of $1.09 per share, with a total value of $225,973.35. Following the purchase, the chief executive officer owned 207,315 shares of the company’s stock, valued at $225,973.35. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 5.20% of the company’s stock.

Institutional Trading of Adagio Medical

A number of institutional investors have recently modified their holdings of the company. Perceptive Advisors LLC lifted its position in Adagio Medical by 0.7% during 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. Adage Capital Partners GP L.L.C. raised its stake in shares of Adagio Medical by 17.3% in 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. Finally, Cresset Asset Management LLC acquired a new position in shares of Adagio Medical during the 2nd quarter valued at $39,000. 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.