Adagio Medical Holdings, Inc. (NASDAQ:ADGM) Short Interest Up 31.5% in February

Adagio Medical Holdings, Inc. (NASDAQ:ADGM) saw a large increase in short interest in the month of February. As of February 13th, there was short interest totaling 74,411 shares, an increase of 31.5% from the January 29th total of 56,600 shares. Currently, 0.4% of the company’s shares are sold short. Based on an average daily volume of 55,804 shares, the days-to-cover ratio is presently 1.3 days. Based on an average daily volume of 55,804 shares, the days-to-cover ratio is presently 1.3 days. Currently, 0.4% of the company’s shares are sold short.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on ADGM shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Adagio Medical in a research note on Monday, December 22nd. Lake Street Capital began coverage on Adagio Medical in a report on Tuesday, December 2nd. They set a “buy” rating and a $4.00 price target on the stock. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Adagio Medical currently has a consensus rating of “Hold” and an average target price of $4.00.

Adagio Medical Stock Performance

Adagio Medical stock opened at $1.00 on Monday. Adagio Medical has a twelve month low of $0.63 and a twelve month high of $2.87. The company has a quick ratio of 0.68, a current ratio of 0.84 and a debt-to-equity ratio of 1.96. The company has a market cap of $21.18 million, a PE ratio of -0.66 and a beta of 0.12. The company’s 50-day moving average price is $0.99 and its 200-day moving average price is $1.22.

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

Insider Activity

In related news, CEO Todd Usen bought 207,315 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The stock was bought 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 position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.20% of the company’s stock.

Hedge Funds Weigh In On Adagio Medical

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Cresset Asset Management LLC purchased a new position in Adagio Medical during the second quarter valued at approximately $39,000. Geode Capital Management LLC boosted its position in Adagio Medical by 88.6% during the 4th quarter. Geode Capital Management LLC now owns 68,342 shares of the company’s stock valued at $71,000 after acquiring an additional 32,100 shares in the last quarter. Perceptive Advisors LLC increased its holdings 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 valued at $12,840,000 after acquiring an additional 64,157 shares during the period. Adage Capital Partners GP L.L.C. raised its position in shares of Adagio Medical by 17.3% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 821,261 shares of the company’s stock worth $1,068,000 after acquiring an additional 121,261 shares in the last quarter. Finally, Hudson Bay Capital Management LP purchased a new stake in shares of Adagio Medical during the 4th quarter worth $308,000. 48.08% of the stock is currently owned by 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.