Adagio Medical (NASDAQ:ADGM) CEO Todd Usen Buys 207,315 Shares

Adagio Medical Holdings, Inc. (NASDAQ:ADGM) CEO Todd Usen bought 207,315 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The stock was acquired at an average cost of $1.09 per share, for a total transaction of $225,973.35. Following the acquisition, the chief executive officer directly owned 207,315 shares of the company’s stock, valued at $225,973.35. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Adagio Medical Stock Down 15.3%

NASDAQ ADGM traded down $0.15 during trading on Monday, reaching $0.83. 329,551 shares of the company’s stock were exchanged, compared to its average volume of 139,540. The company has a 50 day moving average price of $1.14 and a two-hundred day moving average price of $1.36. The stock has a market cap of $12.79 million, a P/E ratio of -0.55 and a beta of 0.16. Adagio Medical Holdings, Inc. has a 1 year low of $0.63 and a 1 year high of $2.87. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.68 and a current ratio of 0.84.

Adagio Medical (NASDAQ:ADGM) last issued its earnings results on Thursday, October 30th. The company reported ($0.66) earnings per share for the quarter.

Hedge Funds Weigh In On Adagio Medical

Hedge funds have recently modified their holdings of the business. Cresset Asset Management LLC purchased a new stake in Adagio Medical in the 2nd quarter valued at $39,000. Adage Capital Partners GP L.L.C. acquired a new position in Adagio Medical in the first quarter valued at $563,000. Finally, Perceptive Advisors LLC increased its stake in Adagio Medical by 0.7% in the second quarter. Perceptive Advisors LLC now owns 9,876,576 shares of the company’s stock valued at $12,840,000 after purchasing an additional 64,157 shares during the period. 48.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Adagio Medical in a research report on Monday, December 1st. Lake Street Capital started coverage on shares of Adagio Medical in a research note on Tuesday, December 2nd. They set a “buy” rating and a $4.00 price target on the stock. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $4.00.

Adagio Medical Company Profile

Adagio Medical Holdings, Inc, a developmental stage medical device company, focuses on the development and commercialization of ablation technologies for the treatment of cardiac arrhythmias. It offers treatment for cardiac arrhythmias, including atrial fibrillation, atrial flutter, and ventricular tachycardia.