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Selling Your Adagio Therapeutics Inc. (NASDAQ: ADGI) Stock? Here’s What You Need To Know

Adagio Therapeutics Inc. (NASDAQ:ADGI) shares, rose in value on Wednesday, 06/22/22, with the stock price up by 4.39% to the previous day’s close as strong demand from buyers drove the stock to $3.09.

Actively observing the price movement in the last trading, the stock closed the session at $2.96, falling within a range of $2.8916 and $3.205. Referring to stock’s 52-week performance, its high was $78.82, and the low was $2.41. On the whole, ADGI has fluctuated by 4.75% over the past month.

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As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.82, which is expected to increase to -$0.45 for fiscal year -$2.08 and then to about -$1.06 by fiscal year 2023. Data indicates that the EPS growth is expected to be 60.90% in 2023, while the next year’s EPS growth is forecast to be 49.00%.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that ADGI’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 100% Sell.

4 analyst(s) have assigned their ratings of the stock’s forecast evaluation on a scale of 1.00-5.00 to indicate a strong buy to a strong sell recommendation. The stock is rated as a Hold by 3 analyst(s), 0 recommend it as a Buy and 0 called the ADGI stock Overweight. In the meantime, 0 analyst(s) believe the stock as Underweight and 1 think it is a Sell. Thus, investors eager to increase their holdings of the company’s stock will have an opportunity to do so as the average rating for the stock is Underweight.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of ADGI currently trading nearly 6.36% and 2.77% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 53.53, while the 7-day volatility ratio is showing 10.50% which for the 30-day chart, stands at 8.54%. Furthermore, Adagio Therapeutics Inc. (ADGI)’s average true range (ATR) is 0.26.

In comparison, Eli Lilly and Company (LLY) has moved higher at 3.14% on the day and was up 38.50% over the past 12 months. On the other hand, the price of Pfizer Inc. (PFE) has risen 2.00% on the day. The stock, however, is off 23.88% from where it was a year ago. Other than that, the overall performance of the S&P 500 during the last trading session shows that it lost -0.13%. Meanwhile, the Dow Jones Industrial Slipped by -0.15%.

Data on historical trading for Adagio Therapeutics Inc. (NASDAQ:ADGI) indicates that the trading volumes over the past 10 days have averaged 1.26 million and over the past 3 months, they’ve averaged 2.89 million. According to company’s latest data on outstanding shares, there are 107.87 million shares outstanding.

Nearly 24.30% of Adagio Therapeutics Inc.’s shares belong to company insiders and institutional investors own 68.20% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 4.96 million shares as on Apr 28, 2022, resulting in a short ratio of 0.84. According to the data, the short interest in Adagio Therapeutics Inc. (ADGI) stood at 4.52% of shares outstanding as of Apr 28, 2022; the number of short shares registered in Mar 30, 2022 reached 5.35 million. The stock has fallen by -57.44% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the ADGI stock heading into the next quarter.

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