Alpha Tau Medical Ltd. (NASDAQ:DRTS) Short Interest Update

Alpha Tau Medical Ltd. (NASDAQ:DRTS) saw a significant growth in short interest in December. As of December 15th, there was short interest totaling 193,359 shares, a growth of 58.8% from the November 30th total of 121,800 shares. Based on an average daily volume of 386,042 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.4% of the company’s stock are sold short. Currently, 0.4% of the company’s stock are sold short. Based on an average daily volume of 386,042 shares, the days-to-cover ratio is currently 0.5 days.

Alpha Tau Medical Stock Up 1.0%

DRTS traded up $0.05 during trading on Friday, hitting $5.10. 59,625 shares of the company’s stock traded hands, compared to its average volume of 269,362. The stock has a market capitalization of $432.58 million, a price-to-earnings ratio of -9.81 and a beta of 1.06. The company’s 50 day simple moving average is $4.22 and its two-hundred day simple moving average is $3.70. Alpha Tau Medical has a 12-month low of $2.30 and a 12-month high of $5.21. The company has a current ratio of 8.43, a quick ratio of 5.81 and a debt-to-equity ratio of 0.08.

Alpha Tau Medical (NASDAQ:DRTS) last issued its earnings results on Thursday, November 20th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.02). Analysts predict that Alpha Tau Medical will post -0.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alpha Tau Medical

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Levin Capital Strategies L.P. boosted its stake in shares of Alpha Tau Medical by 6.3% in the 3rd quarter. Levin Capital Strategies L.P. now owns 204,714 shares of the company’s stock worth $923,000 after buying an additional 12,200 shares during the last quarter. Mariner LLC lifted its holdings in Alpha Tau Medical by 185.8% in the third quarter. Mariner LLC now owns 123,250 shares of the company’s stock valued at $556,000 after acquiring an additional 80,129 shares during the period. Millennium Management LLC purchased a new position in Alpha Tau Medical in the third quarter worth about $170,000. Bank of America Corp DE boosted its position in Alpha Tau Medical by 2,779.1% in the third quarter. Bank of America Corp DE now owns 22,457 shares of the company’s stock worth $101,000 after purchasing an additional 21,677 shares during the last quarter. Finally, Envestnet Asset Management Inc. bought a new stake in shares of Alpha Tau Medical during the 3rd quarter valued at about $62,000. Hedge funds and other institutional investors own 2.65% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Wall Street Zen raised shares of Alpha Tau Medical to a “sell” rating in a research report on Saturday, November 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alpha Tau Medical in a research note on Wednesday, October 8th. HC Wainwright reiterated a “buy” rating on shares of Alpha Tau Medical in a report on Wednesday, December 10th. Finally, Citigroup dropped their target price on Alpha Tau Medical from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, December 10th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Alpha Tau Medical presently has a consensus rating of “Hold” and a consensus target price of $8.00.

About Alpha Tau Medical

Alpha Tau Medical Ltd. is a medical technology company headquartered in Ness Ziona, Israel, focused on developing targeted alpha-radiation therapies for the treatment of solid tumors. The company’s core innovation, known as Diffusing Alpha-emitters Radiation Therapy (DaRT), employs short-lived radioactive isotopes to deliver high-energy alpha particles directly within or adjacent to tumor tissues. By harnessing the potent cytotoxic effects of alpha radiation, Alpha Tau Medical aims to offer a novel approach to brachytherapy that can potentially overcome radioresistance and spare surrounding healthy tissue.

The company’s lead product, Alpha DaRT, is currently being evaluated in clinical studies for a range of indications including recurrent or metastatic head and neck cancers, skin cancers, and other solid tumors.