Adagio Medical (NASDAQ:ADGM) Trading Up 8% – Here’s What Happened

by · The Cerbat Gem

Adagio Medical Holdings, Inc. (NASDAQ:ADGM – Get Free Report)’s stock price shot up 8% on Wednesday . The stock traded as high as $0.5204 and last traded at $0.4990. 185,209 shares changed hands during mid-day trading, a decline of 19% from the average daily volume of 229,091 shares. The stock had previously closed at $0.4621.

Analyst Ratings Changes

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

Get Our Latest Stock Report on Adagio Medical

Adagio Medical Stock Down 3.1%

The company’s 50 day moving average is $0.56 and its 200 day moving average is $0.83. The company has a market cap of $11.19 million, a PE ratio of -0.34 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 (NASDAQ:ADGM – Get Free Report) last issued its earnings results on Tuesday, August 11th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.03). As a group, analysts predict that Adagio Medical Holdings, Inc. will post -1.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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

About Adagio Medical

(Get Free Report)

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.

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