Monogram Orthopaedics (NASDAQ:MGRM) Stock Rating Upgraded by Roth Capital

Monogram Orthopaedics (NASDAQ:MGRM) was upgraded by equities researchers at Roth Capital to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Separately, Roth Mkm assumed coverage on shares of Monogram Orthopaedics in a report on Monday. They set a “buy” rating and a $4.00 price target for the company.

Monogram Orthopaedics Stock Up 8.9 %

Shares of MGRM stock opened at $2.68 on Monday. Monogram Orthopaedics has a 12-month low of $1.53 and a 12-month high of $4.90. The company has a market capitalization of $91.95 million, a P/E ratio of -5.70 and a beta of 2.01. The firm has a 50-day moving average price of $2.26 and a 200 day moving average price of $2.39.

Institutional Investors Weigh In On Monogram Orthopaedics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC acquired a new stake in Monogram Orthopaedics in the 3rd quarter valued at about $29,000. State Street Corp acquired a new stake in Monogram Orthopaedics in the 3rd quarter valued at about $62,000. Finally, Geode Capital Management LLC increased its position in Monogram Orthopaedics by 1,267.4% in the 3rd quarter. Geode Capital Management LLC now owns 210,144 shares of the company’s stock valued at $557,000 after acquiring an additional 194,776 shares in the last quarter. 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.