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

Adagio Medical Holdings, Inc. (NASDAQ:ADGM) was the recipient of a significant 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. Based on an average daily volume of 50,419,064 shares, the short-interest ratio is currently 0.0 days. Approximately 1.6% of the company’s stock are sold short.

Hedge Funds Weigh In On Adagio Medical

A number of hedge funds and other institutional investors have recently modified their holdings of ADGM. Granite Investment Partners LLC purchased a new position in shares of Adagio Medical during the first quarter valued at about $31,000. Cresset Asset Management LLC purchased a new stake in shares of Adagio Medical in the second quarter worth about $39,000. Geode Capital Management LLC boosted its stake in Adagio Medical by 88.6% during the fourth quarter. Geode Capital Management LLC now owns 68,342 shares of the company’s stock valued at $71,000 after buying an additional 32,100 shares during the last quarter. Hudson Bay Capital Management LP bought a new position in Adagio Medical during the fourth quarter valued at approximately $308,000. Finally, Armistice Capital LLC purchased a new position in Adagio Medical during the 4th quarter valued at approximately $497,000. Institutional investors own 48.08% of the company’s stock.

Adagio Medical Stock Performance

Shares of ADGM stock traded up $0.01 during mid-day trading on Friday, reaching $0.53. 99,354 shares of the company’s stock traded hands, compared to its average volume of 3,186,942. The firm has a 50 day moving average price of $0.59 and a two-hundred day moving average price of $0.88. The company has a debt-to-equity ratio of 4.00, a quick ratio of 1.15 and a current ratio of 1.41. Adagio Medical has a 12 month low of $0.36 and a 12 month high of $2.58. The firm has a market capitalization of $11.69 million, a PE ratio of -0.36 and a beta of -0.15.

Adagio Medical (NASDAQ:ADGM) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.03). On average, research analysts forecast that Adagio Medical will post -1.25 EPS for the current year.

Analyst Ratings Changes

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

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.