Key Points
- CEO Todd Usen purchased 207,315 shares on December 12 at an average price of $1.09,** totaling $225,973.35, and now directly owns those shares per an SEC filing.
- Shares have fallen sharply (down 15.3%, opened at $0.83), and the company shows a small market cap ($12.79M), negative EPS (loss of $0.66 last quarter) and weak liquidity (quick ratio 0.68, current ratio 0.84).
- Analyst coverage is mixed—Lake Street started coverage with a "buy" and $4.00 target while Weiss Ratings reissued a "sell"—the consensus is "Hold" with a $4.00 target, and about 48% of shares are held by institutions (Perceptive Advisors ~9.88M shares).
Adagio Medical Holdings, Inc. (NASDAQ:ADGM - Get Free Report) CEO Todd Usen acquired 207,315 shares of the stock in a transaction dated Friday, December 12th. The stock was bought at an average price of $1.09 per share, with a total value of $225,973.35. Following the purchase, the chief executive officer directly owned 207,315 shares in the company, valued at $225,973.35. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Adagio Medical Stock Down 15.3%
Shares of NASDAQ ADGM opened at $0.83 on Tuesday. The company has a quick ratio of 0.68, a current ratio of 0.84 and a debt-to-equity ratio of 1.96. The firm has a market cap of $12.79 million, a PE ratio of -0.55 and a beta of 0.16. The company's fifty day simple moving average is $1.14 and its 200 day simple moving average is $1.36. Adagio Medical Holdings, Inc. has a 12-month low of $0.63 and a 12-month high of $2.87.
Adagio Medical (NASDAQ:ADGM - Get Free Report) last announced its quarterly earnings data on Thursday, October 30th. The company reported ($0.66) earnings per share for the quarter.
Analyst Upgrades and Downgrades
A number of brokerages have commented on ADGM. Weiss Ratings reissued a "sell (e+)" rating on shares of Adagio Medical in a research note on Monday, December 1st. Lake Street Capital started coverage on shares of Adagio Medical in a research report on Tuesday, December 2nd. They issued a "buy" rating and a $4.00 price target for the company. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $4.00.
Read Our Latest Research Report on Adagio Medical
Institutional Trading of Adagio Medical
Several institutional investors and hedge funds have recently modified their holdings of ADGM. Adage Capital Partners GP L.L.C. bought a new stake in Adagio Medical during the first quarter worth $563,000. Perceptive Advisors LLC boosted its holdings 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 acquiring an additional 64,157 shares during the last quarter. Finally, Cresset Asset Management LLC bought a new stake in shares of Adagio Medical in the 2nd quarter worth $39,000. 48.08% of the stock is owned by hedge funds and other institutional investors.
About Adagio Medical
(
Get Free Report)
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.
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