Adagio Medical’s (ADGM) “Sell (E+)” Rating Reaffirmed at Weiss Ratings

Weiss Ratings reiterated their sell (e+) rating on shares of Adagio Medical (NASDAQ:ADGM) in a research note published on Thursday morning,Weiss Ratings reports.

Adagio Medical Trading Down 1.7%

NASDAQ ADGM opened at $1.17 on Thursday. The company has a fifty day moving average price of $1.67 and a 200-day moving average price of $1.44. The company has a current ratio of 2.50, a quick ratio of 2.13 and a debt-to-equity ratio of 1.96. Adagio Medical has a 1 year low of $0.63 and a 1 year high of $4.20.

Adagio Medical (NASDAQ:ADGM) last released its quarterly earnings results on Wednesday, August 13th. The company reported ($0.35) earnings per share for the quarter.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cresset Asset Management LLC purchased a new position in Adagio Medical during the second quarter worth about $39,000. Perceptive Advisors LLC boosted its holdings 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 purchasing an additional 64,157 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its holdings in Adagio Medical by 17.3% during the second quarter. Adage Capital Partners GP L.L.C. now owns 821,261 shares of the company’s stock worth $1,068,000 after purchasing an additional 121,261 shares during the last quarter. 48.08% of the stock is currently owned by hedge funds and other institutional investors.

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.