Adagio Medical (NASDAQ:ADGM) Releases Earnings Results

Adagio Medical (NASDAQ:ADGM) announced its quarterly earnings data on Friday. The company reported ($0.21) earnings per share for the quarter, FiscalAI reports.

Adagio Medical Stock Performance

Shares of NASDAQ ADGM traded up $0.01 during trading hours on Friday, reaching $1.25. The stock had a trading volume of 4,978 shares, compared to its average volume of 73,267. The firm has a 50-day moving average of $1.02 and a 200-day moving average of $1.17. The firm has a market cap of $26.48 million, a price-to-earnings ratio of -0.82 and a beta of 0.12. 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 has a fifty-two week low of $0.63 and a fifty-two week high of $2.87.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ADGM. Weiss Ratings reissued a “sell (d-)” rating on shares of Adagio Medical in a report on Monday, December 22nd. Lake Street Capital initiated coverage on Adagio Medical in a report on Tuesday, December 2nd. They set a “buy” rating and a $4.00 price target for the company. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Adagio Medical presently has a consensus rating of “Hold” and an average target price of $4.00.

Institutional Investors Weigh In On Adagio Medical

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Armistice Capital LLC acquired a new stake in shares of Adagio Medical in the fourth quarter valued at approximately $497,000. ADAR1 Capital Management LLC acquired a new position in shares of Adagio Medical in the 4th quarter valued at $1,206,000. Adage Capital Partners GP L.L.C. increased its holdings in shares of 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 valued at $1,309,000 after acquiring an additional 200,000 shares during the period. Hudson Bay Capital Management LP purchased a new stake in Adagio Medical in the 4th quarter valued at $308,000. Finally, Alyeska Investment Group L.P. purchased a new stake in Adagio Medical in the 4th quarter valued at $1,206,000. Hedge funds and other institutional investors own 48.08% of the company’s stock.

About Adagio Medical

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.