Levin Capital Strategies L.P. Lowers Position in Alpha Tau Medical Ltd. $DRTS

Levin Capital Strategies L.P. trimmed its position in shares of Alpha Tau Medical Ltd. (NASDAQ:DRTS) by 41.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 106,423 shares of the company’s stock after selling 75,808 shares during the quarter. Levin Capital Strategies L.P. owned 0.12% of Alpha Tau Medical worth $752,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Mariner LLC lifted its position in Alpha Tau Medical by 1.6% in the fourth quarter. Mariner LLC now owns 125,165 shares of the company’s stock valued at $620,000 after purchasing an additional 1,915 shares during the period. Trifecta Capital Advisors LLC acquired a new position in Alpha Tau Medical during the 4th quarter worth approximately $48,000. Envestnet Asset Management Inc. purchased a new position in shares of Alpha Tau Medical during the 3rd quarter worth approximately $62,000. Wells Fargo & Company MN raised its stake in shares of Alpha Tau Medical by 291.7% during the 4th quarter. Wells Fargo & Company MN now owns 23,500 shares of the company’s stock worth $116,000 after buying an additional 17,500 shares in the last quarter. Finally, Principal Financial Group Inc. acquired a new stake in shares of Alpha Tau Medical in the 1st quarter valued at approximately $132,000. 2.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on DRTS shares. Barclays lifted their price target on Alpha Tau Medical from $15.00 to $17.00 and gave the company an “overweight” rating in a research note on Thursday, June 4th. HC Wainwright reiterated a “buy” rating and issued a $15.00 price objective on shares of Alpha Tau Medical in a research report on Wednesday. Piper Sandler raised their target price on Alpha Tau Medical from $5.00 to $8.00 and gave the company a “neutral” rating in a report on Tuesday, May 19th. Zacks Research lowered shares of Alpha Tau Medical from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 1st. Finally, LADENBURG THALM/SH SH upped their price target on shares of Alpha Tau Medical from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $12.60.

Alpha Tau Medical Price Performance

DRTS stock opened at $13.01 on Thursday. The firm has a 50 day moving average of $11.03 and a 200-day moving average of $8.62. The company has a market cap of $1.18 billion, a price-to-earnings ratio of -19.42 and a beta of 1.17. The company has a current ratio of 7.79, a quick ratio of 7.79 and a debt-to-equity ratio of 0.09. Alpha Tau Medical Ltd. has a 12-month low of $2.87 and a 12-month high of $14.11.

Alpha Tau Medical (NASDAQ:DRTS) last released its quarterly earnings results on Monday, May 18th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.13). As a group, equities analysts expect that Alpha Tau Medical Ltd. will post -0.67 EPS for the current fiscal year.

Insider Buying and Selling

In other Alpha Tau Medical news, CFO Raphi Levy sold 2,270 shares of the business’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $14.00, for a total transaction of $31,780.00. Following the sale, the chief financial officer directly owned 90,180 shares in the company, valued at approximately $1,262,520. The trade was a 2.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 112,270 shares of company stock worth $1,270,923 in the last quarter. 39.50% of the stock is currently owned by insiders.

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.