Adagio Medical (NASDAQ:ADGM) Shares Down 0% – Time to Sell?

Adagio Medical Holdings, Inc. (NASDAQ:ADGM)’s stock price was down 0% during mid-day trading on Thursday . The company traded as low as $0.7370 and last traded at $0.7499. Approximately 131,611 shares were traded during trading, an increase of 7% from the average daily volume of 123,122 shares. The stock had previously closed at $0.75.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ADGM shares. Zacks Research upgraded Adagio Medical to a “hold” rating in a report on Wednesday, April 15th. Piper Sandler started coverage on Adagio Medical in a report on Tuesday, April 14th. They issued an “overweight” rating and a $3.00 price objective on the stock. Finally, Weiss Ratings upgraded Adagio Medical from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, May 26th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $3.50.

Adagio Medical Stock Down 0.0%

The firm has a market capitalization of $16.66 million, a price-to-earnings ratio of -0.49 and a beta of -0.19. The business has a 50 day simple moving average of $1.10 and a 200-day simple moving average of $1.02. The company has a debt-to-equity ratio of 4.00, a quick ratio of 1.66 and a current ratio of 1.85.

Adagio Medical (NASDAQ:ADGM) last issued its earnings results 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). On average, equities analysts expect that Adagio Medical Holdings, Inc. will post -1.58 EPS for the current year.

Institutional Trading of Adagio Medical

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Granite Investment Partners LLC acquired a new stake in shares of Adagio Medical during the 1st quarter worth about $31,000. Cresset Asset Management LLC acquired a new stake in shares of Adagio Medical during the 2nd quarter worth about $39,000. Geode Capital Management LLC increased its position in shares of Adagio Medical by 88.6% during the 4th quarter. Geode Capital Management LLC now owns 68,342 shares of the company’s stock worth $71,000 after purchasing an additional 32,100 shares during the last quarter. ADAR1 Capital Management LLC increased its position in shares of Adagio Medical by 4.0% during the 1st 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. Finally, Perceptive Advisors LLC increased its position in shares of Adagio Medical by 0.7% during the 2nd quarter. Perceptive Advisors LLC now owns 9,876,576 shares of the company’s stock worth $12,840,000 after purchasing an additional 64,157 shares during the last quarter. 48.08% of the stock is owned by institutional investors and hedge funds.

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.