Monogram Orthopaedics, Inc. (NASDAQ:MGRM) Short Interest Down 42.8% in January

Monogram Orthopaedics, Inc. (NASDAQ:MGRM) was the target of a significant decline in short interest in January. As of January 15th, there was short interest totalling 129,000 shares, a decline of 42.8% from the December 31st total of 225,600 shares. Approximately 0.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 89,600 shares, the days-to-cover ratio is presently 1.4 days.

Institutional Investors Weigh In On Monogram Orthopaedics

Several large investors have recently bought and sold shares of MGRM. Geode Capital Management LLC increased 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 worth $557,000 after purchasing an additional 194,776 shares during the period. Fiduciary Family Office LLC acquired a new position in shares of Monogram Orthopaedics during the 4th quarter worth about $70,000. State Street Corp acquired a new position in shares of Monogram Orthopaedics during the 3rd quarter worth about $62,000. Finally, Barclays PLC acquired a new position in shares of Monogram Orthopaedics during the 3rd quarter worth about $29,000. Hedge funds and other institutional investors own 0.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MGRM. Roth Mkm began coverage on Monogram Orthopaedics in a research note on Monday, December 9th. They issued a “buy” rating and a $4.00 price target on the stock. Roth Capital raised Monogram Orthopaedics to a “strong-buy” rating in a research note on Monday, December 9th.

Monogram Orthopaedics Price Performance

Shares of MGRM stock traded up $0.03 on Wednesday, hitting $2.80. The stock had a trading volume of 28,677 shares, compared to its average volume of 47,732. The firm has a market capitalization of $96.07 million, a P/E ratio of -5.96 and a beta of 1.51. Monogram Orthopaedics has a 1 year low of $1.53 and a 1 year high of $4.90. The company’s 50 day moving average price is $2.46 and its 200-day moving average price is $2.51.

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.