Monogram Orthopaedics, Inc. (NASDAQ:MGRM) Sees Significant Decline in Short Interest

Monogram Orthopaedics, Inc. (NASDAQ:MGRM) saw a significant decline in short interest in 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. Currently, 0.5% of the shares of the stock are sold short. Based on an average daily volume of 70,300 shares, the days-to-cover ratio is currently 1.7 days.

Monogram Orthopaedics Trading Down 7.8 %

Shares of MGRM traded down $0.21 during trading hours on Friday, hitting $2.48. 56,215 shares of the stock traded hands, compared to its average volume of 33,632. Monogram Orthopaedics has a 1-year low of $1.53 and a 1-year high of $4.90. The firm has a market capitalization of $85.09 million, a PE ratio of -5.28 and a beta of 1.55. The business has a fifty day moving average of $2.63 and a 200-day moving average of $2.55.

Wall Street Analyst Weigh In

MGRM has been the topic of a number of recent analyst reports. Roth Mkm initiated coverage on Monogram Orthopaedics in a research note on Monday, December 9th. They issued a “buy” rating and a $4.00 price objective on the stock. Roth Capital raised Monogram Orthopaedics to a “strong-buy” rating in a research note on Monday, December 9th.

Hedge Funds Weigh In On Monogram Orthopaedics

Large investors have recently made changes to their positions in the company. Barclays PLC acquired a new position in shares of Monogram Orthopaedics during the third quarter valued at $29,000. State Street Corp acquired a new position in shares of Monogram Orthopaedics during the third quarter valued at $62,000. Geode Capital Management LLC lifted its stake in shares of Monogram Orthopaedics by 1,267.4% during the third quarter. Geode Capital Management LLC now owns 210,144 shares of the company’s stock valued at $557,000 after acquiring an additional 194,776 shares during the period. Jane Street Group LLC acquired a new position in shares of Monogram Orthopaedics during the fourth quarter valued at $25,000. Finally, Northern Trust Corp lifted its stake in shares of Monogram Orthopaedics by 110.6% during the fourth quarter. Northern Trust Corp now owns 45,873 shares of the company’s stock valued at $109,000 after acquiring an additional 24,088 shares during the period. Institutional investors and hedge funds own 0.45% of the company’s stock.

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.