Adagio Medical (NASDAQ:ADGM) Trading Down 13.4% – What’s Next?

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ADGM. Weiss Ratings lowered Adagio Medical from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday. Piper Sandler started coverage on Adagio Medical in a research report on Tuesday, April 14th. They set an “overweight” rating and a $3.00 price target for the company. Finally, Zacks Research raised Adagio Medical to a “hold” rating in a report 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $3.50.

Adagio Medical Stock Down 13.4%

The stock’s fifty day moving average price is $0.70 and its 200 day moving average price is $0.95. The stock has a market cap of $9.82 million, a P/E ratio of -0.29 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.

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

Institutional Investors Weigh In On Adagio Medical

A number of large investors have recently added to or reduced their stakes in ADGM. ADAR1 Capital Management LLC lifted its stake in Adagio Medical by 4.0% during the first quarter. ADAR1 Capital Management LLC now owns 1,205,447 shares of the company’s stock worth $1,386,000 after purchasing an additional 45,833 shares during the last quarter. Granite Investment Partners LLC bought a new position in shares of Adagio Medical during the 1st quarter valued at about $31,000. Armistice Capital LLC bought a new position in shares of Adagio Medical during the 4th quarter valued at about $497,000. Adage Capital Partners GP L.L.C. raised its holdings in shares of 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 buying an additional 200,000 shares in the last quarter. Finally, Hudson Bay Capital Management LP purchased a new position in shares of Adagio Medical during the 4th quarter valued at about $308,000. Hedge funds and other institutional investors own 48.08% of the company’s stock.

Adagio Medical Company Profile

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.