Adagio Medical (NASDAQ:ADGM) Shares Up 3.8% – Here’s What Happened

Adagio Medical Holdings, Inc. (NASDAQ:ADGM) rose 3.8% during mid-day trading on Friday . The company traded as high as $0.6644 and last traded at $0.6458. Approximately 53,152 shares changed hands during mid-day trading, a decline of 36% from the average daily volume of 82,638 shares. The stock had previously closed at $0.6223.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Piper Sandler initiated coverage on shares of Adagio Medical in a research report on Tuesday, April 14th. They issued an “overweight” rating and a $3.00 target price for the company. Weiss Ratings lowered shares of Adagio Medical from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, June 11th. Finally, Zacks Research raised shares of Adagio Medical to a “hold” rating in a research note on Wednesday, April 15th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Adagio Medical has a consensus rating of “Hold” and a consensus target price of $3.50.

Adagio Medical Price Performance

The company has a market capitalization of $14.34 million, a P/E ratio of -0.42 and a beta of -0.19. The stock’s fifty day simple moving average is $0.91 and its 200-day simple moving average is $1.00. The company has a debt-to-equity ratio of 4.00, a current ratio of 1.85 and a quick ratio of 1.66.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ADGM. Granite Investment Partners LLC acquired a new position in shares of Adagio Medical during the first quarter worth approximately $31,000. Cresset Asset Management LLC bought a new stake in shares of Adagio Medical in the second quarter valued at approximately $39,000. Geode Capital Management LLC grew its stake in shares of Adagio Medical by 88.6% in 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 last quarter. ADAR1 Capital Management LLC grew its stake in shares of Adagio Medical by 4.0% in the first quarter. ADAR1 Capital Management LLC now owns 1,205,447 shares of the company’s stock worth $1,386,000 after acquiring an additional 45,833 shares during the last quarter. Finally, Perceptive Advisors LLC increased its position in Adagio Medical by 0.7% during the second quarter. Perceptive Advisors LLC now owns 9,876,576 shares of the company’s stock worth $12,840,000 after acquiring an additional 64,157 shares during the period. 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.