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

Monogram Orthopaedics, Inc. (NASDAQ:MGRM) saw a large decline in short interest in the month of 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. Approximately 0.5% of the shares of the company are short sold. Based on an average daily trading volume, of 70,300 shares, the short-interest ratio is currently 1.7 days.

Institutional Trading of Monogram Orthopaedics

Institutional investors and hedge funds have recently modified their holdings of the company. Jane Street Group LLC bought a new stake in shares of Monogram Orthopaedics during the fourth quarter valued at approximately $25,000. Wells Fargo & Company MN increased its position 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 during the period. Barclays PLC bought a new stake in shares of Monogram Orthopaedics during the third quarter valued at approximately $29,000. Orion Portfolio Solutions LLC bought a new stake in shares of Monogram Orthopaedics during the fourth quarter valued at approximately $31,000. Finally, State Street Corp bought a new stake in shares of Monogram Orthopaedics during the third quarter valued at approximately $62,000. 0.45% of the stock is currently owned by institutional investors.

Monogram Orthopaedics Price Performance

Shares of MGRM traded down $0.21 on Friday, reaching $2.48. 56,215 shares of the stock traded hands, compared to its average volume of 33,632. The firm has a market cap of $85.09 million, a price-to-earnings ratio of -5.28 and a beta of 1.55. Monogram Orthopaedics has a 12 month low of $1.53 and a 12 month high of $4.90. The stock’s 50-day moving average price is $2.63 and its 200-day moving average price is $2.55.

Analyst Upgrades and Downgrades

MGRM has been the topic of several recent analyst reports. Roth Mkm initiated coverage on Monogram Orthopaedics in a research report 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 report on Monday, December 9th.

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.