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

Alpha Tau Medical Ltd. (NASDAQ:DRTS) saw a significant increase in short interest during the month of January. As of January 15th, there was short interest totaling 527,362 shares, an increase of 111.0% from the December 31st total of 249,905 shares. Based on an average daily trading volume, of 571,015 shares, the days-to-cover ratio is currently 0.9 days. Currently, 1.0% of the shares of the company are short sold. Currently, 1.0% of the shares of the company are short sold. Based on an average daily trading volume, of 571,015 shares, the days-to-cover ratio is currently 0.9 days.

Analysts Set New Price Targets

A number of equities analysts have recently commented on DRTS shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alpha Tau Medical in a report on Wednesday, January 21st. Zacks Research lowered shares of Alpha Tau Medical from a “hold” rating to a “strong sell” rating in a research note on Monday, January 19th. Wall Street Zen upgraded shares of Alpha Tau Medical to a “sell” rating in a research note on Saturday, November 1st. HC Wainwright restated a “buy” rating on shares of Alpha Tau Medical in a research report on Wednesday, December 10th. Finally, Citigroup reduced their price objective on Alpha Tau Medical from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, December 10th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Alpha Tau Medical has a consensus rating of “Hold” and a consensus price target of $8.00.

Alpha Tau Medical Stock Performance

DRTS stock traded down $0.30 during trading on Friday, reaching $6.94. 314,851 shares of the company were exchanged, compared to its average volume of 491,271. The stock’s 50 day moving average price is $5.48 and its 200 day moving average price is $4.29. Alpha Tau Medical has a 52-week low of $2.30 and a 52-week high of $7.89. The company has a market cap of $588.65 million, a P/E ratio of -13.35 and a beta of 1.04.

Alpha Tau Medical (NASDAQ:DRTS) last posted its earnings results 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). As a group, equities research analysts forecast that Alpha Tau Medical will post -0.45 EPS for the current year.

Institutional Trading of Alpha Tau Medical

Hedge funds have recently added to or reduced their stakes in the business. Trifecta Capital Advisors LLC acquired a new position in Alpha Tau Medical during the fourth quarter worth approximately $48,000. Envestnet Asset Management Inc. acquired a new stake in shares of Alpha Tau Medical during the 3rd quarter worth $62,000. Bank of America Corp DE raised its position in shares of Alpha Tau Medical by 2,779.1% in the 3rd quarter. Bank of America Corp DE now owns 22,457 shares of the company’s stock worth $101,000 after buying an additional 21,677 shares during the period. Millennium Management LLC purchased a new position in shares of Alpha Tau Medical in the 3rd quarter worth $170,000. Finally, Mariner LLC boosted 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 last quarter. 2.65% of the stock is owned by institutional investors and hedge funds.

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.