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

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

Monogram Orthopaedics Price Performance

Shares of NASDAQ:MGRM traded down $0.21 during trading on Friday, reaching $2.48. 56,215 shares of the company were exchanged, compared to its average volume of 33,632. The firm has a market capitalization of $85.09 million, a PE ratio of -5.28 and a beta of 1.55. The business’s fifty day simple moving average is $2.63 and its 200-day simple moving average is $2.55. Monogram Orthopaedics has a 12-month low of $1.53 and a 12-month high of $4.90.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MGRM. Roth Capital raised shares of Monogram Orthopaedics to a “strong-buy” rating in a research report on Monday, December 9th. Roth Mkm assumed coverage on shares of Monogram Orthopaedics in a research report on Monday, December 9th. They set a “buy” rating and a $4.00 target price on the stock.

Hedge Funds Weigh In On Monogram Orthopaedics

A number of institutional investors have recently modified their holdings of MGRM. Jane Street Group LLC bought a new position in shares of Monogram Orthopaedics during the fourth quarter valued at approximately $25,000. Wells Fargo & Company MN boosted its stake in shares of Monogram Orthopaedics by 286.6% during the fourth quarter. Wells Fargo & Company MN now owns 11,597 shares of the company’s stock valued at $27,000 after purchasing an additional 8,597 shares in the last quarter. Barclays PLC bought a new position in shares of Monogram Orthopaedics during the third quarter valued at approximately $29,000. Orion Portfolio Solutions LLC bought a new position in shares of Monogram Orthopaedics during the fourth quarter valued at approximately $31,000. Finally, State Street Corp bought a new position in shares of Monogram Orthopaedics during the third quarter valued at approximately $62,000. 0.45% of the stock is owned by hedge funds and other institutional investors.

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.