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

Monogram Orthopaedics, Inc. (NASDAQ:MGRM - Get Free Report) was the recipient of a large growth in short interest in March. As of March 31st, there was short interest totalling 353,100 shares, a growth of 142.0% from the March 15th total of 145,900 shares. Based on an average trading volume of 629,400 shares, the short-interest ratio is presently 0.6 days. Approximately 1.5% of the company's stock are sold short.

Monogram Orthopaedics Stock Performance

Shares of NASDAQ:MGRM traded up $0.08 during midday trading on Friday, reaching $2.70. 31,622 shares of the company's stock traded hands, compared to its average volume of 250,678. Monogram Orthopaedics has a one year low of $1.82 and a one year high of $4.21. The company has a market cap of $95.28 million, a price-to-earnings ratio of -5.74 and a beta of 0.77. The stock has a 50 day moving average of $2.61 and a 200 day moving average of $2.50.

Monogram Orthopaedics (NASDAQ:MGRM - Get Free Report) last issued its earnings results on Wednesday, March 12th. The company reported ($0.08) earnings per share for the quarter, topping analysts' consensus estimates of ($0.11) by $0.03. Sell-side analysts predict that Monogram Orthopaedics will post -0.49 EPS for the current fiscal year.

Institutional Trading of Monogram Orthopaedics

A number of hedge funds have recently bought and sold shares of MGRM. Geode Capital Management LLC increased 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 valued at $557,000 after buying an additional 194,776 shares during the last quarter. Fiduciary Family Office LLC bought a new position in shares of Monogram Orthopaedics in the fourth quarter worth about $70,000. Northern Trust Corp lifted its position in shares of Monogram Orthopaedics by 110.6% during the 4th quarter. Northern Trust Corp now owns 45,873 shares of the company's stock valued at $109,000 after buying an additional 24,088 shares in the last quarter. State Street Corp purchased a new stake in Monogram Orthopaedics in the 3rd quarter worth approximately $62,000. Finally, Orion Portfolio Solutions LLC purchased a new stake in shares of Monogram Orthopaedics in the fourth quarter worth $31,000. Hedge funds and other institutional investors own 0.45% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MGRM. Roth Mkm upped their price target on Monogram Orthopaedics from $4.00 to $5.40 and gave the stock a "buy" rating in a research note on Tuesday, March 18th. Roth Capital set a $5.40 price target on Monogram Orthopaedics 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.