Monogram Orthopaedics (NASDAQ:MGRM) Stock Rating Upgraded by Roth Capital

Roth Capital upgraded shares of Monogram Orthopaedics (NASDAQ:MGRM - Free Report) to a strong-buy rating in a research report released on Monday,Zacks.com reports.

Separately, Roth Mkm began coverage on Monogram Orthopaedics in a report on Monday. They issued a "buy" rating and a $4.00 price target on the stock.

Monogram Orthopaedics Price Performance

Shares of NASDAQ:MGRM traded up $0.22 during mid-day trading on Monday, reaching $2.68. 262,803 shares of the company traded hands, compared to its average volume of 143,997. The company's 50 day moving average price is $2.26 and its 200-day moving average price is $2.39. The firm has a market cap of $91.95 million, a PE ratio of -5.70 and a beta of 2.01. Monogram Orthopaedics has a 52 week low of $1.53 and a 52 week high of $4.90.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its holdings in Monogram Orthopaedics by 1,267.4% during the 3rd quarter. Geode Capital Management LLC now owns 210,144 shares of the company's stock valued at $557,000 after buying an additional 194,776 shares during the period. State Street Corp purchased a new stake in Monogram Orthopaedics during the 3rd quarter valued at $62,000. Finally, Barclays PLC purchased a new stake in Monogram Orthopaedics during the 3rd quarter valued at $29,000. 0.45% of the stock is owned by hedge funds and other institutional investors.

About Monogram Orthopaedics

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.