Thursday, May 21, 2020 5:23:59 PM
https://alphastocknews.com/xtant-medical-xtnt-stock-is-rocketing-heres-why/3421/
Just bought 1.65 after hours. Hoping for a gap up tomorrow.
Here's the article from Joshua Rodriguez - May 21, 2020 from Alpha Stock News
Xtant Medical Holdings Inc (NYSEAMERICAN: XTNT) is rocketing in the market this morning, trading on gains that are better stated in multiples than percentages. While no press releases have been issued, an SEC filing gives us some clues as to what started the movement that led to an apparent short squeeze. Here’s what’s going on:
XTNT Stock Rockets As Shorts Run For Cover
As mentioned above, there’s an apparent short squeeze taking place on Xtant Medical Holdings stock. For those of you who are not familiar with the term, a short squeeze takes place when a heavily shorted stock starts to move up.
Short sellers in that stock begin to lose money and race to buy shares to cover their positions. This leads to an incredible increase in price fueled by high-volume buying.
So, what is it that triggered the movement in the first place?
There was an SEC filing made late yesterday surrounding beneficial ownership. The 13D filing said that OrbiMed Advisors now owns a total of 14,014,321 shares of XTNT stock. That works out to be about 77.7% of the entire company.
When big money investors dive into a company head first like this, investors tend to follow. This is likely the cause for the beginning of the movement. But it goes further than that.
On XTNT message boards across the internet, we’re seeing chatter that the company may be taken over by OrbiMed. It seems as though investors believe that with such a large percentage of the company now held by OrbiMed Advisors, the firm may move to acquire the entire company.
Of course, these rumors are unverified and could be far from the truth, but it’s something fun to think about.
Nonetheless, the purchase of such a large percentage of the company by an institutional investor suggests that something big is on the horizon.
The Bottom Line
The bottom line here is that Xtant Medical was a heavily shorted stock. When OrbiMed announced that it has taken ownership of more than 70% of the company, excitement ensued and shares started to be purchased, triggering a short squeeze.
With the SEC filing in mind, it’s likely worth paying close attention to XTNT stock as a potential acquisition or other big catalyst is likely around the corner.
Recent XTNT News
- Form EFFECT - Notice of Effectiveness • Edgar (US Regulatory) • 09/12/2024 04:15:07 AM
- Form 424B3 - Prospectus [Rule 424(b)(3)] • Edgar (US Regulatory) • 09/11/2024 09:12:23 PM
- Form POS AM - Post-Effective amendments for registration statement • Edgar (US Regulatory) • 09/04/2024 01:45:46 AM
- Form S-3 - Registration statement under Securities Act of 1933 • Edgar (US Regulatory) • 09/03/2024 09:09:13 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/03/2024 08:05:38 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/19/2024 09:01:54 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/19/2024 08:40:32 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/19/2024 08:26:41 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/19/2024 08:14:32 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/19/2024 08:09:08 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/08/2024 11:30:20 AM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/08/2024 11:25:30 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/08/2024 11:20:37 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/24/2024 08:15:31 PM
- Form DEF 14A - Other definitive proxy statements • Edgar (US Regulatory) • 06/10/2024 11:00:27 AM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/15/2024 08:20:49 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/15/2024 08:15:42 PM
- Xtant Medical Announces Launch of SimpliGraft™ and SimpliMax™ for Chronic and Acute Wounds • GlobeNewswire Inc. • 04/30/2024 09:00:00 AM
- Xtant Medical Announces Record Full Year 2023 Revenue of $91.3 Million • GlobeNewswire Inc. • 04/01/2024 11:00:00 AM
- Xtant Medical to Issue Fourth Quarter and Full Year 2023 Financial Results on April 1, 2024 • GlobeNewswire Inc. • 03/21/2024 08:05:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 03/07/2024 10:13:22 PM
- Xtant Medical Increases Revolving Credit Facility to $17 Million with MidCap Financial • GlobeNewswire Inc. • 03/07/2024 09:05:00 PM
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