Adagio Medical (NASDAQ:ADGM – Get Free Report) posted its quarterly earnings results on Tuesday. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.03), Zacks reports.
Adagio Medical Stock Performance
Shares of Adagio Medical stock opened at $0.69 on Thursday. 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 $15.33 million, a P/E ratio of -0.47 and a beta of -0.15. The company has a current ratio of 1.85, a quick ratio of 1.66 and a debt-to-equity ratio of 4.00. The business has a fifty day simple moving average of $0.62 and a two-hundred day simple moving average of $0.91.
Wall Street Analyst Weigh In
ADGM has been the subject of a number of recent research reports. Zacks Research raised Adagio Medical to a “hold” rating in a research note on Wednesday, April 15th. Weiss Ratings upgraded shares of Adagio Medical from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, August 5th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Adagio Medical presently has a consensus rating of “Hold” and a consensus target price of $3.50.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of the business. Adage Capital Partners GP L.L.C. grew its holdings in Adagio Medical by 18.9% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,258,501 shares of the company’s stock worth $1,309,000 after purchasing an additional 200,000 shares during the period. Alyeska Investment Group L.P. bought a new stake in shares of Adagio Medical in the 4th quarter worth approximately $1,206,000. Perceptive Advisors LLC grew its stake in shares of Adagio Medical by 0.7% in the 2nd quarter. Perceptive Advisors LLC now owns 9,876,576 shares of the company’s stock worth $12,840,000 after buying an additional 64,157 shares during the last quarter. Armistice Capital LLC purchased a new stake in shares of Adagio Medical in the 4th quarter worth approximately $497,000. Finally, ADAR1 Capital Management LLC bought a new position in Adagio Medical during the 4th quarter valued at approximately $1,206,000. 48.08% of the stock is owned by hedge funds and other institutional investors.
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.
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