Monogram Orthopaedics (NASDAQ:MGRM) Trading Up 0.3% - Time to Buy?

Key Points

• Monogram Orthopaedics shares rose by 0.3% to $5.91 during trading, with a significant drop in trading volume of 26% compared to its average.
• The company reported a quarterly earnings per share (EPS) of ($0.16), missing analysts’ expectations of ($0.11).
• Several institutional investors increased their holdings in Monogram Orthopaedics, with Jane Street Group LLC raising its position by 83.0% in the first quarter.

Monogram Orthopaedics Inc. (NASDAQ:MGRM - Get Free Report) shares shot up 0.3% during trading on Friday . The company traded as high as $5.92 and last traded at $5.91. 70,858 shares traded hands during trading, a decline of 26% from the average session volume of 95,196 shares. The stock had previously closed at $5.89.

Monogram Orthopaedics Stock Up 0.3%

The stock's 50-day moving average price is $5.64 and its 200 day moving average price is $3.86. The firm has a market cap of $240.14 million, a price-to-earnings ratio of -11.82 and a beta of 0.69.

Monogram Orthopaedics (NASDAQ:MGRM - Get Free Report) last announced its quarterly earnings data on Friday, August 15th. The company reported ($0.16) EPS for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.05). On average, research analysts predict that Monogram Orthopaedics Inc. will post -0.49 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Orion Porfolio Solutions LLC raised its position in shares of Monogram Orthopaedics by 15.4% during the second quarter. Orion Porfolio Solutions LLC now owns 13,850 shares of the company's stock valued at $40,000 after buying an additional 1,850 shares during the last quarter. Crestwood Advisors Group LLC acquired a new position in shares of Monogram Orthopaedics during the second quarter valued at about $29,000. Jane Street Group LLC raised its position in shares of Monogram Orthopaedics by 83.0% during the first quarter. Jane Street Group LLC now owns 19,426 shares of the company's stock valued at $57,000 after buying an additional 8,810 shares during the last quarter. Focus Partners Advisor Solutions LLC raised its position in Monogram Orthopaedics by 6.1% in the first quarter. Focus Partners Advisor Solutions LLC now owns 213,678 shares of the company's stock worth $628,000 after purchasing an additional 12,328 shares in the last quarter. Finally, Northern Trust Corp raised its position in Monogram Orthopaedics by 110.6% in the fourth quarter. Northern Trust Corp now owns 45,873 shares of the company's stock worth $109,000 after purchasing an additional 24,088 shares in the last quarter. Institutional investors and hedge funds own 0.45% of the company's stock.

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.

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