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

Monogram Orthopaedics, Inc. (NASDAQ:MGRM) was the recipient of a large decrease in short interest in the month of January. As of January 15th, there was short interest totalling 129,000 shares, a decrease of 42.8% from the December 31st total of 225,600 shares. Based on an average daily volume of 89,600 shares, the days-to-cover ratio is currently 1.4 days. Currently, 0.6% of the shares of the company are short sold.

Hedge Funds Weigh In On Monogram Orthopaedics

Large investors have recently modified their holdings of the business. State Street Corp purchased a new position in shares of Monogram Orthopaedics during the 3rd quarter worth approximately $62,000. Barclays PLC purchased a new position in Monogram Orthopaedics in the 3rd quarter valued at approximately $29,000. Geode Capital Management LLC raised its holdings in Monogram Orthopaedics by 1,267.4% during the third 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 last quarter. Finally, Fiduciary Family Office LLC acquired a new position in Monogram Orthopaedics during the fourth quarter worth $70,000. 0.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on MGRM. Roth Capital raised Monogram Orthopaedics to a “strong-buy” rating in a research report on Monday, December 9th. Roth Mkm began coverage on Monogram Orthopaedics in a research report on Monday, December 9th. They set a “buy” rating and a $4.00 price objective for the company.

Monogram Orthopaedics Stock Performance

Monogram Orthopaedics stock traded up $0.03 during mid-day trading on Wednesday, reaching $2.80. 28,677 shares of the company were exchanged, compared to its average volume of 47,732. Monogram Orthopaedics has a twelve month low of $1.53 and a twelve month high of $4.90. The firm’s 50-day simple moving average is $2.46 and its two-hundred day simple moving average is $2.51. The firm has a market cap of $96.07 million, a PE ratio of -5.96 and a beta of 1.51.

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.