Adagio Medical (NASDAQ:ADGM) Stock Rating Upgraded by Zacks Research

Adagio Medical (NASDAQ:ADGM) was upgraded by equities researchers at Zacks Research to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

ADGM has been the topic of a number of other research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Adagio Medical in a research note on Monday, December 22nd. Piper Sandler initiated coverage on Adagio Medical in a research note on Tuesday. They issued an “overweight” rating and a $3.00 price target on the stock. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $3.50.

Adagio Medical Stock Up 3.5%

NASDAQ ADGM opened at $1.48 on Wednesday. The firm has a market cap of $32.87 million, a PE ratio of -0.86 and a beta of 0.04. Adagio Medical has a one year low of $0.74 and a one year high of $2.87. The stock’s 50 day simple moving average is $1.11 and its 200 day simple moving average is $1.13. The company has a debt-to-equity ratio of 1.70, a current ratio of 2.44 and a quick ratio of 2.24.

Adagio Medical (NASDAQ:ADGM) last announced its quarterly earnings data on Friday, March 27th. The company reported ($0.21) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.10.

Institutional Trading of Adagio Medical

Several hedge funds have recently added to or reduced their stakes in the business. Perceptive Advisors LLC raised its stake in Adagio Medical by 0.7% during the 2nd quarter. Perceptive Advisors LLC now owns 9,876,576 shares of the company’s stock worth $12,840,000 after buying an additional 64,157 shares during the period. Adage Capital Partners GP L.L.C. grew its holdings in shares of Adagio Medical by 18.9% in 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 acquiring an additional 200,000 shares in the last quarter. Alyeska Investment Group L.P. bought a new position in shares of Adagio Medical in the 4th quarter valued at about $1,206,000. ADAR1 Capital Management LLC bought a new position in shares of Adagio Medical in the 4th quarter valued at about $1,206,000. Finally, Armistice Capital LLC bought a new position in shares of Adagio Medical in the 4th quarter valued at about $497,000. Institutional investors and hedge funds 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.