Monogram Orthopaedics (NASDAQ:MGRM) Shares Up 2.9% – Here’s Why

Monogram Orthopaedics, Inc. (NASDAQ:MGRM) traded up 2.9% during mid-day trading on Wednesday . The stock traded as high as $2.54 and last traded at $2.49. 56,315 shares traded hands during trading, an increase of 32% from the average session volume of 42,710 shares. The stock had previously closed at $2.42.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Roth Capital raised shares of Monogram Orthopaedics to a “strong-buy” rating in a research note on Monday, December 9th. Roth Mkm assumed coverage on shares of Monogram Orthopaedics in a research note on Monday, December 9th. They set a “buy” rating and a $4.00 target price on the stock.

Monogram Orthopaedics Price Performance

The company’s fifty day simple moving average is $2.62 and its two-hundred day simple moving average is $2.55. The stock has a market cap of $85.43 million, a price-to-earnings ratio of -5.30 and a beta of 1.55.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MGRM. Jane Street Group LLC acquired a new position in Monogram Orthopaedics during the fourth quarter worth $25,000. Wells Fargo & Company MN raised its holdings in Monogram Orthopaedics by 286.6% during the fourth quarter. Wells Fargo & Company MN now owns 11,597 shares of the company’s stock worth $27,000 after buying an additional 8,597 shares during the last quarter. Barclays PLC acquired a new position in Monogram Orthopaedics during the third quarter worth $29,000. Orion Portfolio Solutions LLC acquired a new position in Monogram Orthopaedics during the fourth quarter worth $31,000. Finally, State Street Corp purchased a new stake in shares of Monogram Orthopaedics in the third quarter valued at about $62,000. 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.