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

Monogram Orthopaedics, Inc. (NASDAQ:MGRM - Get Free Report) saw a large decline in short interest in the month of May. As of May 15th, there was short interest totalling 401,000 shares, a decline of 12.8% from the April 30th total of 459,800 shares. Approximately 1.7% of the shares of the company are sold short. Based on an average trading volume of 638,900 shares, the days-to-cover ratio is presently 0.6 days.

Institutional Trading of Monogram Orthopaedics

Several institutional investors have recently added to or reduced their stakes in MGRM. Northern Trust Corp boosted its stake in Monogram Orthopaedics by 110.6% in the 4th quarter. Northern Trust Corp now owns 45,873 shares of the company's stock valued at $109,000 after purchasing an additional 24,088 shares during the period. Geode Capital Management LLC raised its holdings in Monogram Orthopaedics by 7.7% in the 4th quarter. Geode Capital Management LLC now owns 226,378 shares of the company's stock valued at $537,000 after acquiring an additional 16,234 shares in the last quarter. Orion Portfolio Solutions LLC acquired a new position in Monogram Orthopaedics in the 4th quarter valued at $31,000. Focus Partners Advisor Solutions LLC raised its holdings in Monogram Orthopaedics by 6.1% in the 1st quarter. Focus Partners Advisor Solutions LLC now owns 213,678 shares of the company's stock valued at $628,000 after acquiring an additional 12,328 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in Monogram Orthopaedics in the 4th quarter valued at $25,000. 0.45% of the stock is currently owned by institutional investors.

Monogram Orthopaedics Price Performance

MGRM traded up $0.02 during trading on Friday, hitting $2.54. The stock had a trading volume of 54,040 shares, compared to its average volume of 249,030. The company has a 50 day moving average price of $2.65 and a 200-day moving average price of $2.59. The firm has a market cap of $90.65 million, a price-to-earnings ratio of -5.40 and a beta of 0.41. Monogram Orthopaedics has a one year low of $1.92 and a one year high of $4.21.

Monogram Orthopaedics (NASDAQ:MGRM - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.02. As a group, sell-side analysts predict that Monogram Orthopaedics will post -0.49 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MGRM has been the subject of several research analyst reports. Roth Capital set a $5.40 target price on Monogram Orthopaedics in a research note on Tuesday, March 18th. Roth Mkm lifted their target price on Monogram Orthopaedics from $4.00 to $5.40 and gave the stock a "buy" rating in a research note on Tuesday, March 18th.

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.