Adagio Medical (NASDAQ:ADGM) Stock Price Up 3.8% – Here’s Why

Adagio Medical Holdings, Inc. (NASDAQ:ADGM) traded up 3.8% on Friday . The stock traded as high as $0.6644 and last traded at $0.6458. Approximately 53,152 shares were traded during trading, a decline of 36% from the average session volume of 82,638 shares. The stock had previously closed at $0.6223.

Analyst Ratings Changes

A number of research analysts recently weighed in on ADGM shares. Piper Sandler began coverage on shares of Adagio Medical in a report on Tuesday, April 14th. They issued an “overweight” rating and a $3.00 target price for the company. Zacks Research raised shares of Adagio Medical to a “hold” rating in a research note on Wednesday, April 15th. Finally, Weiss Ratings cut shares of Adagio Medical from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 11th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $3.50.

Adagio Medical Stock Performance

The firm has a 50 day moving average of $0.91 and a 200-day moving average of $1.00. The company has a market cap of $14.34 million, a P/E ratio of -0.42 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 issued its earnings results on Tuesday, May 12th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.02). As a group, sell-side analysts anticipate that Adagio Medical Holdings, Inc. will post -1.58 EPS for the current fiscal year.

Institutional Investors Weigh In On Adagio Medical

Large investors have recently modified their holdings of the business. ADAR1 Capital Management LLC lifted its position in shares of Adagio Medical by 4.0% in the 1st quarter. ADAR1 Capital Management LLC now owns 1,205,447 shares of the company’s stock worth $1,386,000 after purchasing an additional 45,833 shares during the period. Granite Investment Partners LLC purchased a new position in Adagio Medical during the first quarter valued at approximately $31,000. Armistice Capital LLC bought a new position in Adagio Medical in the fourth quarter worth approximately $497,000. Adage Capital Partners GP L.L.C. raised its stake in Adagio Medical by 18.9% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,258,501 shares of the company’s stock worth $1,309,000 after buying an additional 200,000 shares in the last quarter. Finally, Hudson Bay Capital Management LP purchased a new stake in Adagio Medical during the fourth quarter worth $308,000. 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.