Monogram Orthopaedics, Inc. (NASDAQ:MGRM) Short Interest Update

Monogram Orthopaedics, Inc. (NASDAQ:MGRM - Get Free Report) was the recipient of a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 116,700 shares, a decline of 33.2% from the January 15th total of 174,700 shares. Approximately 0.5% of the shares of the company are sold short. Based on an average trading volume of 70,300 shares, the short-interest ratio is currently 1.7 days.

Hedge Funds Weigh In On Monogram Orthopaedics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its position in Monogram Orthopaedics by 7.7% during the 4th quarter. Geode Capital Management LLC now owns 226,378 shares of the company's stock worth $537,000 after purchasing an additional 16,234 shares during the period. Northern Trust Corp grew its holdings in shares of Monogram Orthopaedics by 110.6% in the 4th quarter. Northern Trust Corp now owns 45,873 shares of the company's stock worth $109,000 after acquiring an additional 24,088 shares during the period. Commonwealth Equity Services LLC grew its holdings in shares of Monogram Orthopaedics by 21.5% in the 4th quarter. Commonwealth Equity Services LLC now owns 41,628 shares of the company's stock worth $99,000 after acquiring an additional 7,366 shares during the period. Fiduciary Family Office LLC acquired a new stake in shares of Monogram Orthopaedics in the 4th quarter worth approximately $70,000. Finally, State Street Corp acquired a new stake in shares of Monogram Orthopaedics in the 3rd quarter worth approximately $62,000. Institutional investors and hedge funds own 0.45% of the company's stock.

Monogram Orthopaedics Price Performance

NASDAQ MGRM traded down $0.06 on Tuesday, hitting $2.43. 54,570 shares of the company's stock were exchanged, compared to its average volume of 41,736. The firm's 50-day moving average price is $2.63 and its two-hundred day moving average price is $2.55. Monogram Orthopaedics has a fifty-two week low of $1.53 and a fifty-two week high of $4.90. The firm has a market cap of $83.20 million, a price-to-earnings ratio of -5.11 and a beta of 1.55.

Analyst Upgrades and Downgrades

MGRM has been the topic of several recent research reports. Roth Mkm initiated coverage on Monogram Orthopaedics in a research report on Monday, December 9th. They issued a "buy" rating and a $4.00 price target on the stock. Roth Capital upgraded Monogram Orthopaedics to a "strong-buy" rating in a research report on Monday, December 9th.

Monogram Orthopaedics Company Profile

Monogram Orthopaedics, Inc focuses on developing a product solution architecture to enable patient-optimized orthopaedic implants. The company intends to produce and market robotic surgical equipment and related software, orthopedic implants, tissue ablation tools, navigation consumables, and other miscellaneous instrumentation for use in reconstructive joint replacement procedures.