Adagio Medical (NASDAQ:ADGM) CFO Deborah Kaster Purchases 15,000 Shares

Adagio Medical Holdings, Inc. (NASDAQ:ADGM) CFO Deborah Kaster acquired 15,000 shares of the business’s stock in a transaction on Tuesday, December 16th. The shares were purchased at an average cost of $1.20 per share, for a total transaction of $18,000.00. Following the completion of the transaction, the chief financial officer owned 15,000 shares in the company, valued at approximately $18,000. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Adagio Medical Stock Down 22.3%

ADGM stock opened at $0.94 on Friday. The company has a market capitalization of $14.46 million, a price-to-earnings ratio of -0.62 and a beta of 0.16. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.68 and a current ratio of 0.84. The business’s 50 day moving average price is $1.07 and its two-hundred day moving average price is $1.36. Adagio Medical Holdings, Inc. has a fifty-two week low of $0.63 and a fifty-two week high of $2.87.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Cresset Asset Management LLC purchased a new stake in shares of Adagio Medical during the second quarter valued at approximately $39,000. Perceptive Advisors LLC lifted its position in 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 in the last quarter. Finally, Adage Capital Partners GP L.L.C. lifted its position in 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 valued at $1,068,000 after acquiring an additional 121,261 shares in the last quarter. 48.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ADGM has been the subject of a number of recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Adagio Medical in a research report on Monday. Lake Street Capital started coverage on shares of Adagio Medical in a research note on Tuesday, December 2nd. They set a “buy” rating and a $4.00 target price for the company. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Adagio Medical presently has an average rating of “Hold” and an average price target of $4.00.

About Adagio Medical

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.