Adagio Medical (NASDAQ:ADGM) Trading Up 10.5% – What’s Next?

Adagio Medical Holdings, Inc. (NASDAQ:ADGM)’s share price traded up 10.5% during mid-day trading on Wednesday . The stock traded as high as $1.65 and last traded at $1.56. 83,477 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 545,636 shares. The stock had previously closed at $1.41.

Adagio Medical Trading Up 10.5 %

The company has a current ratio of 4.42, a quick ratio of 3.90 and a debt-to-equity ratio of 0.18. The company has a 50 day moving average price of $1.12.

Hedge Funds Weigh In On Adagio Medical

Large investors have recently bought and sold shares of the business. RA Capital Management L.P. purchased a new position in shares of Adagio Medical during the third quarter worth approximately $3,442,000. RTW Investments LP purchased a new stake in shares of Adagio Medical in the 3rd quarter worth $540,000. Shaolin Capital Management LLC increased its stake in shares of Adagio Medical by 41.1% during the fourth quarter. Shaolin Capital Management LLC now owns 197,500 shares of the company’s stock valued at $207,000 after buying an additional 57,500 shares during the period. Finally, JPMorgan Chase & Co. bought a new stake in shares of Adagio Medical in the fourth quarter valued at about $105,000. Hedge funds and other institutional investors own 48.08% of the company’s stock.

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.