BTIG Research Has Lowered Expectations for Xtant Medical (NYSEAMERICAN:XTNT) Stock Price

Xtant Medical (NYSEAMERICAN:XTNT) had its price objective lowered by analysts at BTIG Research from $2.00 to $1.50 in a report released on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the medical device company’s stock. BTIG Research’s price target points to a potential upside of 86.57% from the stock’s current price.

Xtant Medical Trading Up 5.7%

Shares of NYSEAMERICAN XTNT traded up $0.04 during midday trading on Tuesday, reaching $0.80. The company had a trading volume of 282,007 shares, compared to its average volume of 150,020. The stock has a market cap of $112.56 million, a PE ratio of -20.18 and a beta of -0.22. Xtant Medical has a one year low of $0.33 and a one year high of $0.95. The firm’s fifty day moving average price is $0.71 and its 200-day moving average price is $0.66. The company has a quick ratio of 1.16, a current ratio of 2.47 and a debt-to-equity ratio of 0.46.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Nantahala Capital Management LLC raised its holdings in Xtant Medical by 500.3% in the 2nd quarter. Nantahala Capital Management LLC now owns 68,394,000 shares of the medical device company’s stock worth $50,543,000 after purchasing an additional 57,000,000 shares in the last quarter. AWM Investment Company Inc. bought a new position in Xtant Medical in the second quarter worth about $4,875,000. Vanguard Group Inc. raised its stake in Xtant Medical by 4.6% in the third quarter. Vanguard Group Inc. now owns 2,355,671 shares of the medical device company’s stock worth $1,529,000 after buying an additional 104,159 shares in the last quarter. Crescent Grove Advisors LLC lifted its holdings in Xtant Medical by 94.3% in the second quarter. Crescent Grove Advisors LLC now owns 412,024 shares of the medical device company’s stock worth $304,000 after buying an additional 200,000 shares during the period. Finally, Mink Brook Asset Management LLC boosted its position in Xtant Medical by 125.8% during the 2nd quarter. Mink Brook Asset Management LLC now owns 109,466 shares of the medical device company’s stock valued at $81,000 after acquiring an additional 60,997 shares in the last quarter. 69.33% of the stock is owned by hedge funds and other institutional investors.

About Xtant Medical

Xtant Medical Holdings, Inc provides regenerative medicine products and medical devices for orthopedic and neurological surgeons. It offers OsteoSponge that provides a natural scaffold for cellular in-growth and exposes bone-forming proteins to the healing environment; OsteoSelect DBM Putty to mold into any shape and compressed into bony voids; OsteoSelect PLUS DBM Putty to deliver handling properties and ensure patient safety through validated terminal sterilization; 3Demin, a family of allografts that maximizes osteoconductivity and the osteoinductive potential of human bone; OsteoFactor, a processed allograft that contains retained growth factors found within the endosteum layer of allograft bone; OsteoVive Plus, a growth factor enriched cellular bone matrix; and nanOss family of products that provide osteoconductive nano-structured hydroxyapatite and an engineered extracellular matrix bioscaffold collagen carrier.