Adagio Medical (NASDAQ:ADGM) Announces Quarterly Earnings Results

Adagio Medical (NASDAQ:ADGM) announced its quarterly earnings results on Friday. The company reported ($0.21) earnings per share (EPS) for the quarter, FiscalAI reports.

Adagio Medical Price Performance

Adagio Medical stock opened at $1.22 on Friday. The company has a market cap of $25.84 million, a price-to-earnings ratio of -0.80 and a beta of 0.12. The firm’s fifty day moving average is $1.02 and its 200 day moving average is $1.17. The company has a quick ratio of 0.68, a current ratio of 0.84 and a debt-to-equity ratio of 1.96. Adagio Medical has a 52-week low of $0.63 and a 52-week high of $2.87.

Analyst Ratings Changes

A number of research analysts have recently weighed in on ADGM shares. Lake Street Capital started coverage on Adagio Medical in a research report on Tuesday, December 2nd. They set a “buy” rating and a $4.00 price objective for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Adagio Medical in a research report on Monday, December 22nd. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $4.00.

Institutional Trading of Adagio Medical

A number of large investors have recently made changes to their positions in the business. Alyeska Investment Group L.P. purchased a new stake in Adagio Medical during the fourth quarter valued at approximately $1,206,000. ADAR1 Capital Management LLC purchased a new position in shares of Adagio Medical in the 4th quarter worth approximately $1,206,000. Armistice Capital LLC purchased a new position in shares of Adagio Medical in the 4th quarter worth approximately $497,000. Hudson Bay Capital Management LP bought a new position in shares of Adagio Medical during the 4th quarter valued at approximately $308,000. Finally, Adage Capital Partners GP L.L.C. increased its position in shares of Adagio Medical by 18.9% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,258,501 shares of the company’s stock valued at $1,309,000 after purchasing an additional 200,000 shares during the last quarter. 48.08% of the stock is currently owned by 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.