Adagio Medical (NASDAQ:ADGM) Trading Down 13.4% – Should You Sell?

Adagio Medical Holdings, Inc. (NASDAQ:ADGM) shares dropped 13.4% on Tuesday . The company traded as low as $0.44 and last traded at $0.4420. 166,039 shares traded hands during trading, an increase of 163% from the average session volume of 63,225 shares. The stock had previously closed at $0.5103.

Analyst Ratings Changes

ADGM has been the subject of a number of recent analyst reports. Weiss Ratings lowered Adagio Medical from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday. Piper Sandler initiated coverage on Adagio Medical in a research report on Tuesday, April 14th. They issued an “overweight” rating and a $3.00 target price on the stock. Finally, Zacks Research raised Adagio Medical to a “hold” rating in a research note on Wednesday, April 15th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $3.50.

Adagio Medical Stock Up 4.9%

The stock has a market cap of $10.89 million, a P/E ratio of -0.32 and a beta of -0.19. The company has a current ratio of 1.85, a quick ratio of 1.66 and a debt-to-equity ratio of 4.00. The stock’s 50-day moving average is $0.69 and its 200-day moving average is $0.95.

Adagio Medical (NASDAQ:ADGM) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.02). As a group, research analysts anticipate that Adagio Medical Holdings, Inc. will post -1.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Adagio Medical

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cresset Asset Management LLC bought a new stake in shares of Adagio Medical in the 2nd quarter worth $39,000. Adage Capital Partners GP L.L.C. boosted its stake in Adagio Medical by 17.3% during the second quarter. Adage Capital Partners GP L.L.C. now owns 821,261 shares of the company’s stock valued at $1,068,000 after buying an additional 121,261 shares in the last quarter. Perceptive Advisors LLC boosted its stake in Adagio Medical by 0.7% during the second quarter. Perceptive Advisors LLC now owns 9,876,576 shares of the company’s stock valued at $12,840,000 after buying an additional 64,157 shares in the last quarter. Geode Capital Management LLC grew its holdings in Adagio Medical by 88.6% during the fourth quarter. Geode Capital Management LLC now owns 68,342 shares of the company’s stock worth $71,000 after acquiring an additional 32,100 shares during the period. Finally, Alyeska Investment Group L.P. acquired a new position in Adagio Medical during the fourth quarter worth about $1,206,000. 48.08% of the stock is owned by institutional investors.

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.