Adagio Medical (NASDAQ:ADGM) Shares Up 1.7% – Still a Buy?

Adagio Medical Holdings, Inc. (NASDAQ:ADGM) shares shot up 1.7% during trading on Thursday . The stock traded as high as $0.9539 and last traded at $0.9539. 497,597 shares were traded during trading, an increase of 62% from the average session volume of 307,715 shares. The stock had previously closed at $0.9375.

Analyst Ratings Changes

Several equities research analysts have recently commented on ADGM shares. Weiss Ratings restated a “sell (d-)” rating on shares of Adagio Medical in a research note on Monday, December 22nd. Lake Street Capital initiated coverage on shares of Adagio Medical in a research report on Tuesday, December 2nd. They set a “buy” rating and a $4.00 price objective for the company. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $4.00.

Adagio Medical Stock Performance

The stock’s 50 day moving average price is $0.94 and its two-hundred day moving average price is $1.34. The company has a current ratio of 0.84, a quick ratio of 0.68 and a debt-to-equity ratio of 1.96. The firm has a market capitalization of $14.92 million, a price-to-earnings ratio of -0.64 and a beta of 0.13.

Adagio Medical (NASDAQ:ADGM) last announced its quarterly earnings data on Thursday, October 30th. The company reported ($0.66) EPS for the quarter.

Insider Activity at Adagio Medical

In other news, CEO Todd Usen purchased 207,315 shares of the firm’s stock in a transaction dated Friday, December 12th. The shares were acquired at an average price of $1.09 per share, with a total value of $225,973.35. Following the purchase, 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 SEC, which is available through this link. 5.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

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 approximately $39,000. Adage Capital Partners GP L.L.C. increased its position 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 buying an additional 121,261 shares in the last quarter. Finally, Perceptive Advisors LLC raised its holdings in shares of Adagio Medical by 0.7% in 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 last quarter. 48.08% of the stock is owned by hedge funds and other 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.