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

Adagio Medical Holdings, Inc. (NASDAQ:ADGM) was the target of 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. Currently, 2.0% of the company’s stock are short sold. Based on an average trading volume of 182,972 shares, the days-to-cover ratio is currently 2.3 days.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Adagio Medical stock. ADAR1 Capital Management LLC bought a new position in Adagio Medical Holdings, Inc. (NASDAQ:ADGM) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent quarter. 48.08% of the stock is owned by institutional investors.

Adagio Medical Trading Down 15.6%

NASDAQ:ADGM opened at $0.14 on Wednesday. Adagio Medical has a one year low of $0.12 and a one year high of $2.58. The company has a debt-to-equity ratio of 4.00, a current ratio of 1.41 and a quick ratio of 1.15. The company’s 50-day simple moving average is $0.53 and its 200 day simple moving average is $0.79. The firm has a market capitalization of $3.20 million, a P/E ratio of -0.10 and a beta of -0.09.

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

About Adagio Medical

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.