Adagio Medical (NASDAQ:ADGM) Trading Down 0% – What’s Next?

Adagio Medical Holdings, Inc. (NASDAQ:ADGM)’s stock price dropped 0% during mid-day trading on Thursday . The company traded as low as $0.7370 and last traded at $0.7499. Approximately 131,611 shares were traded during mid-day trading, an increase of 7% from the average daily volume of 123,122 shares. The stock had previously closed at $0.75.

Wall Street Analysts Forecast Growth

ADGM has been the topic of a number of research analyst reports. Piper Sandler started coverage on Adagio Medical in a research note on Tuesday, April 14th. They issued an “overweight” rating and a $3.00 price target on the stock. Weiss Ratings upgraded Adagio Medical from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, May 26th. Finally, Zacks Research upgraded Adagio Medical to a “hold” rating in a report on Wednesday, April 15th. 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, the company currently has a consensus rating of “Hold” and a consensus target price of $3.50.

Adagio Medical Price Performance

The company has a 50 day simple moving average of $1.09 and a 200-day simple moving average of $1.02. The stock has a market cap of $16.10 million, a price-to-earnings ratio of -0.47 and a beta of -0.19. The company has a quick ratio of 1.66, a current ratio of 1.85 and a debt-to-equity ratio of 4.00.

Adagio Medical (NASDAQ:ADGM) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.02). As a group, research analysts anticipate that Adagio Medical Holdings, Inc. will post -1.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. ADAR1 Capital Management LLC increased its holdings in shares of Adagio Medical by 4.0% during the first quarter. ADAR1 Capital Management LLC now owns 1,205,447 shares of the company’s stock valued at $1,386,000 after purchasing an additional 45,833 shares during the period. Cresset Asset Management LLC acquired a new position in shares of Adagio Medical during the 2nd quarter valued at $39,000. Geode Capital Management LLC increased its position in shares of Adagio Medical by 88.6% during the 4th quarter. Geode Capital Management LLC now owns 68,342 shares of the company’s stock valued at $71,000 after purchasing an additional 32,100 shares during the period. Armistice Capital LLC acquired a new position in shares of Adagio Medical during the 4th quarter valued at $497,000. Finally, Adage Capital Partners GP L.L.C. increased its position in shares of Adagio Medical by 17.3% during 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 purchasing an additional 121,261 shares during the period. 48.08% of the stock is owned by institutional investors and hedge funds.

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.