Insider Selling: Alpha Tau Medical (NASDAQ:DRTS) CFO Sells $351,975.00 in Stock

Alpha Tau Medical Ltd. (NASDAQ:DRTS) CFO Raphi Levy sold 32,500 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $10.83, for a total transaction of $351,975.00. Following the completion of the transaction, the chief financial officer owned 147,680 shares in the company, valued at approximately $1,599,374.40. This trade represents a 18.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Alpha Tau Medical Trading Down 9.1%

DRTS opened at $9.35 on Friday. The company has a current ratio of 7.79, a quick ratio of 7.79 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $844.59 million, a PE ratio of -13.96 and a beta of 1.19. Alpha Tau Medical Ltd. has a 1-year low of $2.82 and a 1-year high of $11.62. The firm has a 50-day moving average price of $8.59 and a two-hundred day moving average price of $6.98.

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

Institutional Trading of Alpha Tau Medical

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Apella Capital LLC acquired a new position in shares of Alpha Tau Medical in the fourth quarter valued at $1,892,000. Daytona Street Capital LLC acquired a new position in shares of Alpha Tau Medical in the fourth quarter valued at $749,000. Mariner LLC increased its holdings in shares of 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 purchasing an additional 80,129 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Alpha Tau Medical by 185.7% in the fourth quarter. Millennium Management LLC now owns 107,815 shares of the company’s stock valued at $534,000 after purchasing an additional 70,081 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Alpha Tau Medical in the first quarter valued at $286,000. 2.65% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on DRTS. Piper Sandler lifted their price target on shares of Alpha Tau Medical from $5.00 to $8.00 and gave the company a “neutral” rating in a research note on Tuesday, May 19th. HC Wainwright reaffirmed a “buy” rating and issued a $15.00 price target on shares of Alpha Tau Medical in a research note on Tuesday, June 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alpha Tau Medical in a research note on Monday, April 20th. Barclays lifted their price target on shares of Alpha Tau Medical from $15.00 to $17.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, LADENBURG THALM/SH SH lifted their price target on shares of Alpha Tau Medical from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $12.60.

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.