Adagio Medical Holdings, Inc. (NASDAQ:ADGM) Shares Shorted: Short Interest Up 59.3% in September

Adagio Medical Holdings, Inc. (NASDAQ:ADGM) was the target of a significant growth in short interest in September. As of September 15th, there was short interest totaling 412,796 shares, a growth of 59.3% from the August 31st total of 259,188 shares. Approximately 2.0% of the company’s stock are short sold. Based on an average daily volume of 182,972 shares, the short-interest ratio is presently 2.3 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered Adagio Medical from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, August 19th. Two 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, the stock currently has a consensus rating of “Hold” and an average target price of $3.50.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Adagio Medical stock. ADAR1 Capital Management LLC acquired a new position in shares of Adagio Medical Holdings, Inc. (NASDAQ:ADGM) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,205,447 shares of the company’s stock, valued at approximately $785,000. ADAR1 Capital Management LLC owned 5.43% of Adagio Medical at the end of the most recent quarter. 48.08% of the stock is owned by institutional investors and hedge funds.

Adagio Medical Stock Up 2.0%

Shares of NASDAQ:ADGM opened at $0.16 on Friday. The company’s fifty day moving average is $0.51 and its two-hundred day moving average is $0.78. The company has a debt-to-equity ratio of 4.00, a quick ratio of 1.15 and a current ratio of 1.41. Adagio Medical has a 1-year low of $0.12 and a 1-year high of $2.58. The stock has a market capitalization of $3.46 million, a price-to-earnings ratio of -0.11 and a beta of 0.02.

Adagio Medical (NASDAQ:ADGM) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.03). Equities analysts anticipate that Adagio Medical will post -1.25 EPS for the current year.

About Adagio Medical

Adagio Medical, Inc is a medical-device company focused on developing catheter-based technologies for the treatment of cardiac arrhythmias, including atrial fibrillation. The company’s work is centered on cardiac ablation, a procedure that uses energy to create targeted lesions in heart tissue responsible for abnormal electrical signals.

Its lead technology is the iCLAS system, an integrated cardiac liquid ablation platform designed to support cardiac ablation procedures using ultra-low-temperature cryoablation and pulsed-field ablation capabilities.