Adagio Medical (NASDAQ:ADGM) Trading Down 4.2% – Here’s What Happened

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

Adagio Medical Stock Performance

The company has a quick ratio of 3.90, a current ratio of 4.42 and a debt-to-equity ratio of 0.18. The business’s 50 day simple moving average is $1.08 and its two-hundred day simple moving average is $2.07.

Hedge Funds Weigh In On Adagio Medical

Several large investors have recently bought and sold shares of ADGM. RA Capital Management L.P. purchased a new stake in Adagio Medical during the third quarter worth about $3,442,000. RTW Investments LP bought a new stake in shares of Adagio Medical during the 3rd quarter valued at $540,000. Shaolin Capital Management LLC purchased a new stake in Adagio Medical during the 3rd quarter worth about $361,000. Finally, JPMorgan Chase & Co. bought a new position in Adagio Medical in the 4th quarter worth about $105,000. 48.08% of the stock is currently owned by 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.