Adagio Medical (NASDAQ:ADGM) Trading Down 4.2% – What’s Next?

Adagio Medical Holdings, Inc. (NASDAQ:ADGM) shares fell 4.2% during mid-day trading on Thursday . The company traded as low as $0.87 and last traded at $0.87. 39,730 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 236,138 shares. The stock had previously closed at $0.90.

Adagio Medical Stock Performance

The stock has a fifty day moving average of $1.08 and a two-hundred day moving average of $2.07. The company has a current ratio of 4.42, a quick ratio of 3.90 and a debt-to-equity ratio of 0.18.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ADGM. Shaolin Capital Management LLC lifted its stake in Adagio Medical by 41.1% during the 4th quarter. Shaolin Capital Management LLC now owns 197,500 shares of the company’s stock valued at $207,000 after acquiring an additional 57,500 shares during the period. JPMorgan Chase & Co. purchased a new position in shares of Adagio Medical in the fourth quarter worth approximately $105,000. RA Capital Management L.P. bought a new stake in Adagio Medical during the third quarter valued at approximately $3,442,000. Finally, RTW Investments LP bought a new position in Adagio Medical in the third quarter worth approximately $540,000. 48.08% of the stock is owned by hedge funds and other institutional investors.

About Adagio Medical

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.