Adagio Medical Holdings, Inc. (NASDAQ:ADGM) Short Interest Up 446.4% in August

Adagio Medical Holdings, Inc. (NASDAQ:ADGM) saw a significant growth in short interest in the month of August. As of August 14th, there was short interest totaling 325,415 shares, a growth of 446.4% from the July 30th total of 59,553 shares. Based on an average daily trading volume, of 50,419,064 shares, the days-to-cover ratio is currently 0.0 days. Currently, 1.6% of the company’s shares are short sold.

Adagio Medical Stock Performance

Shares of Adagio Medical stock opened at $0.55 on Wednesday. The company has a current ratio of 1.41, a quick ratio of 1.15 and a debt-to-equity ratio of 4.00. The firm has a market capitalization of $12.22 million, a P/E ratio of -0.37 and a beta of -0.15. The business has a fifty day simple moving average of $0.60 and a two-hundred day simple moving average of $0.88. Adagio Medical has a 12 month low of $0.36 and a 12 month high of $2.58.

Adagio Medical (NASDAQ:ADGM) last released its earnings results on Tuesday, August 11th. The company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.03). On average, equities analysts forecast that Adagio Medical will post -1.25 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Weiss Ratings lowered shares of Adagio Medical from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, August 19th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Adagio Medical presently has an average rating of “Hold” and an average target price of $3.50.

Institutional Investors Weigh In On Adagio Medical

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Granite Investment Partners LLC bought a new stake in shares of Adagio Medical in the 1st quarter worth approximately $31,000. Cresset Asset Management LLC bought a new position in Adagio Medical during the 2nd quarter valued at approximately $39,000. Geode Capital Management LLC raised its stake in Adagio Medical by 88.6% during the fourth quarter. Geode Capital Management LLC now owns 68,342 shares of the company’s stock valued at $71,000 after buying an additional 32,100 shares during the last quarter. ADAR1 Capital Management LLC raised its stake in Adagio Medical by 4.0% during the first quarter. ADAR1 Capital Management LLC now owns 1,205,447 shares of the company’s stock valued at $1,386,000 after buying an additional 45,833 shares during the last quarter. Finally, Perceptive Advisors LLC boosted its holdings in 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 in the last quarter. Hedge funds and other institutional investors own 48.08% of the company’s stock.

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.