Alpha Tau Medical Ltd. (NASDAQ:DRTS) Sees Significant Increase in Short Interest

Alpha Tau Medical Ltd. (NASDAQ:DRTS) was the target of a large increase in short interest in the month of December. As of December 31st, there was short interest totaling 249,905 shares, an increase of 29.2% from the December 15th total of 193,359 shares. Based on an average trading volume of 129,151 shares, the short-interest ratio is currently 1.9 days. Currently, 0.5% of the shares of the company are short sold. Currently, 0.5% of the shares of the company are short sold. Based on an average trading volume of 129,151 shares, the short-interest ratio is currently 1.9 days.

Institutional Inflows and Outflows

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

Alpha Tau Medical Stock Down 7.3%

Shares of DRTS traded down $0.56 during trading hours on Friday, hitting $7.12. 370,215 shares of the company were exchanged, compared to its average volume of 345,288. Alpha Tau Medical has a fifty-two week low of $2.30 and a fifty-two week high of $7.89. The company has a market cap of $603.92 million, a price-to-earnings ratio of -13.69 and a beta of 1.04. The firm’s fifty day moving average is $4.82 and its 200 day moving average is $4.03.

Alpha Tau Medical (NASDAQ:DRTS) last posted its quarterly earnings data on Thursday, November 20th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.02). Analysts anticipate that Alpha Tau Medical will post -0.45 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on DRTS. Citigroup lowered their price target on shares of Alpha Tau Medical from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, December 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Alpha Tau Medical in a report on Wednesday, October 8th. HC Wainwright reiterated a “buy” rating on shares of Alpha Tau Medical in a research report on Wednesday, December 10th. Finally, Wall Street Zen upgraded shares of Alpha Tau Medical to a “sell” rating in a research note on Saturday, November 1st. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $8.00.

Alpha Tau Medical Company Profile

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.