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

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

Analyst Upgrades and Downgrades

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

Alpha Tau Medical Stock Performance

Alpha Tau Medical stock opened at $6.94 on Friday. Alpha Tau Medical has a 1 year low of $2.30 and a 1 year 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. The firm’s 50-day moving average is $5.48 and its 200-day moving average is $4.30.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Trifecta Capital Advisors LLC acquired a new stake in Alpha Tau Medical in the 4th quarter valued at $48,000. Envestnet Asset Management Inc. bought a new stake in Alpha Tau Medical in the 3rd quarter valued at $62,000. Bank of America Corp DE lifted its stake in shares of Alpha Tau Medical by 2,779.1% during 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 last quarter. Millennium Management LLC acquired a new stake in Alpha Tau Medical during the third quarter worth approximately $170,000. Finally, Mariner LLC lifted its holdings 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 purchasing an additional 80,129 shares during the last quarter. Institutional investors own 2.65% of the company’s stock.

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.