Monogram Orthopaedics (NASDAQ:MGRM) Trading Down 5.2% - Here's Why

Monogram Orthopaedics, Inc. (NASDAQ:MGRM - Get Free Report) shares were down 5.2% during mid-day trading on Tuesday . The stock traded as low as $2.37 and last traded at $2.39. Approximately 59,882 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 292,589 shares. The stock had previously closed at $2.52.

Analyst Ratings Changes

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

Monogram Orthopaedics Stock Performance

The firm has a market cap of $88.93 million, a price-to-earnings ratio of -5.36 and a beta of 0.77. The business has a fifty day simple moving average of $2.62 and a 200-day simple moving average of $2.49.

Monogram Orthopaedics (NASDAQ:MGRM - Get Free Report) last posted 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. On average, equities analysts anticipate that Monogram Orthopaedics, Inc. will post -0.49 earnings per share for the current year.

Institutional Investors Weigh In On Monogram Orthopaedics

Institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC lifted its holdings in shares of Monogram Orthopaedics by 1,267.4% in the third quarter. Geode Capital Management LLC now owns 210,144 shares of the company's stock valued at $557,000 after purchasing an additional 194,776 shares in the last quarter. Fiduciary Family Office LLC bought a new position in Monogram Orthopaedics during the 4th quarter valued at $70,000. Northern Trust Corp boosted its holdings in Monogram Orthopaedics by 110.6% during the 4th quarter. Northern Trust Corp now owns 45,873 shares of the company's stock worth $109,000 after acquiring an additional 24,088 shares during the last quarter. State Street Corp bought a new stake in shares of Monogram Orthopaedics in the 3rd quarter worth $62,000. Finally, Orion Portfolio Solutions LLC bought a new position in shares of Monogram Orthopaedics during the fourth quarter valued at about $31,000. Institutional investors and hedge funds own 0.45% of the company's stock.

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.