Adagio Medical (NASDAQ:ADGM) Announces Earnings Results

Adagio Medical (NASDAQ:ADGM) announced its quarterly earnings results on Wednesday. The company reported ($0.66) earnings per share for the quarter, FiscalAI reports.

Adagio Medical Price Performance

Shares of NASDAQ ADGM opened at $0.84 on Thursday. Adagio Medical has a fifty-two week low of $0.63 and a fifty-two week high of $4.20. The company has a debt-to-equity ratio of 1.96, a quick ratio of 2.13 and a current ratio of 2.50. The company has a market cap of $12.86 million, a PE ratio of -1.66 and a beta of 0.14. The business has a 50-day simple moving average of $1.57 and a two-hundred day simple moving average of $1.42.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Adagio Medical in a research note on Thursday, October 30th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has an average rating of “Sell”.

Hedge Funds Weigh In On Adagio Medical

A number of large investors have recently bought and sold shares of the business. Adage Capital Partners GP L.L.C. purchased a new stake in Adagio Medical during the 1st quarter valued at approximately $563,000. Cresset Asset Management LLC purchased a new position in shares of Adagio Medical in the 2nd quarter valued at about $39,000. Finally, Perceptive Advisors LLC grew its holdings in shares of Adagio Medical by 0.7% in the 2nd quarter. Perceptive Advisors LLC now owns 9,876,576 shares of the company’s stock worth $12,840,000 after acquiring an additional 64,157 shares during the period. Institutional investors and hedge funds own 48.08% of the company’s stock.

About Adagio Medical

Adagio Medical Holdings, Inc, a developmental stage medical device company, focuses on the development and commercialization of ablation technologies for the treatment of cardiac arrhythmias. It offers treatment for cardiac arrhythmias, including atrial fibrillation, atrial flutter, and ventricular tachycardia.