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

Adagio Medical Holdings, Inc. (NASDAQ:ADGM) saw a large growth in short interest during the month of August. As of August 14th, there was short interest totaling 325,415 shares, a growth of 446.4% from the July 30th total of 59,553 shares. Approximately 1.6% of the shares of the company are short sold. Based on an average daily volume of 50,419,064 shares, the short-interest ratio is currently 0.0 days.

Institutional Trading of Adagio Medical

Several institutional investors and hedge funds have recently made changes to their positions in ADGM. ADAR1 Capital Management LLC purchased a new position in shares of Adagio Medical during the 2nd quarter valued at $785,000. Granite Investment Partners LLC purchased a new position in shares of Adagio Medical in the 1st quarter worth about $31,000. Armistice Capital LLC purchased a new position in Adagio Medical in the 4th quarter worth $497,000. Adage Capital Partners GP L.L.C. boosted its holdings in Adagio Medical by 18.9% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,258,501 shares of the company’s stock valued at $1,309,000 after acquiring an additional 200,000 shares during the period. Finally, Hudson Bay Capital Management LP purchased a new stake in shares of Adagio Medical during the fourth quarter valued at approximately $308,000. Hedge funds and other institutional investors own 48.08% of the company’s stock.

Adagio Medical Stock Performance

Shares of NASDAQ:ADGM traded down $0.00 on Thursday, hitting $0.52. The company had a trading volume of 106,450 shares, compared to its average volume of 3,206,063. The stock has a 50 day moving average price of $0.60 and a 200 day moving average price of $0.88. Adagio Medical has a 1-year low of $0.36 and a 1-year high of $2.58. The company has a current ratio of 1.41, a quick ratio of 1.15 and a debt-to-equity ratio of 4.00. The stock has a market cap of $11.53 million, a price-to-earnings ratio of -0.35 and a beta of -0.15.

Adagio Medical (NASDAQ:ADGM) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.03). Analysts expect that Adagio Medical will post -1.25 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.