Roth Capital Upgrades Monogram Orthopaedics (NASDAQ:MGRM) to “Strong-Buy”

Monogram Orthopaedics (NASDAQ:MGRM) was upgraded by research analysts at Roth Capital to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

Separately, Roth Mkm began coverage on shares of Monogram Orthopaedics in a research report on Monday. They issued a “buy” rating and a $4.00 price objective for the company.

Monogram Orthopaedics Stock Performance

MGRM stock opened at $2.46 on Monday. The stock has a 50-day simple moving average of $2.26 and a 200-day simple moving average of $2.39. The firm has a market cap of $84.40 million, a P/E ratio of -5.23 and a beta of 2.01. Monogram Orthopaedics has a 1 year low of $1.53 and a 1 year high of $4.90.

Hedge Funds Weigh In On Monogram Orthopaedics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MGRM. State Street Corp purchased a new position in shares of Monogram Orthopaedics during the 3rd quarter valued at approximately $62,000. Barclays PLC acquired a new stake in Monogram Orthopaedics in the third quarter valued at $29,000. Finally, Geode Capital Management LLC boosted its stake 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 acquiring an additional 194,776 shares during the last quarter. 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.