Adagio Medical Holdings, Inc. (NASDAQ:ADGM) Short Interest Update

Adagio Medical Holdings, Inc. (NASDAQ:ADGM) saw a large increase in short interest in September. As of September 15th, there was short interest totaling 412,796 shares, an increase of 59.3% from the August 31st total of 259,188 shares. Approximately 2.0% of the company’s stock are sold short. Based on an average daily volume of 182,972 shares, the short-interest ratio is presently 2.3 days.

Adagio Medical Price Performance

Shares of ADGM opened at $0.14 on Wednesday. The firm has a fifty day simple moving average of $0.53 and a two-hundred day simple moving average of $0.79. The firm has a market cap of $3.20 million, a PE ratio of -0.10 and a beta of -0.09. The company has a current ratio of 1.41, a quick ratio of 1.15 and a debt-to-equity ratio of 4.00. Adagio Medical has a 1-year low of $0.12 and a 1-year high of $2.58.

Adagio Medical (NASDAQ:ADGM) last announced its earnings results on Tuesday, August 11th. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.03). On average, equities analysts anticipate that Adagio Medical will post -1.25 EPS for the current year.

Analyst Ratings Changes

Separately, Weiss Ratings lowered shares of Adagio Medical from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, August 19th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $3.50.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Adagio Medical stock. ADAR1 Capital Management LLC acquired a new position in Adagio Medical Holdings, Inc. (NASDAQ:ADGM) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,205,447 shares of the company’s stock, valued at approximately $785,000. ADAR1 Capital Management LLC owned 5.43% of Adagio Medical as of its most recent SEC filing. Institutional investors and hedge funds own 48.08% of the company’s stock.

Adagio Medical Company Profile

Adagio Medical, Inc is a medical-device company focused on developing catheter-based technologies for the treatment of cardiac arrhythmias, including atrial fibrillation. The company’s work is centered on cardiac ablation, a procedure that uses energy to create targeted lesions in heart tissue responsible for abnormal electrical signals.

Its lead technology is the iCLAS system, an integrated cardiac liquid ablation platform designed to support cardiac ablation procedures using ultra-low-temperature cryoablation and pulsed-field ablation capabilities.