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

Alpha Tau Medical Ltd. (NASDAQ:DRTS) was the target of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 122,000 shares, an increase of 60.7% from the February 28th total of 75,900 shares. Based on an average daily volume of 89,000 shares, the short-interest ratio is presently 1.4 days. Currently, 0.2% of the shares of the company are sold short.

Alpha Tau Medical Stock Down 3.8 %

Shares of NASDAQ DRTS traded down $0.10 during mid-day trading on Friday, reaching $2.56. 25,356 shares of the company were exchanged, compared to its average volume of 48,716. The company’s 50 day moving average price is $3.08 and its 200 day moving average price is $2.81. Alpha Tau Medical has a 52 week low of $1.75 and a 52 week high of $4.39. The stock has a market capitalization of $180.18 million, a PE ratio of -5.95 and a beta of 0.87.

Alpha Tau Medical (NASDAQ:DRTS) last announced its quarterly earnings data on Wednesday, March 12th. The company reported ($0.13) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.13). On average, sell-side analysts predict that Alpha Tau Medical will post -0.45 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in DRTS. Levin Capital Strategies L.P. raised its holdings in Alpha Tau Medical by 2.3% during the 4th quarter. Levin Capital Strategies L.P. now owns 314,514 shares of the company’s stock valued at $975,000 after buying an additional 7,189 shares during the last quarter. Northern Trust Corp raised its stake in shares of Alpha Tau Medical by 112.6% during the fourth quarter. Northern Trust Corp now owns 48,666 shares of the company’s stock valued at $151,000 after acquiring an additional 25,770 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Alpha Tau Medical by 188.7% during the fourth quarter. Renaissance Technologies LLC now owns 41,000 shares of the company’s stock worth $127,000 after purchasing an additional 26,800 shares during the period. Institutional investors own 2.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reiterated a “buy” rating and set a $9.00 target price on shares of Alpha Tau Medical in a research report on Monday, March 17th.

About Alpha Tau Medical

Alpha Tau Medical Ltd., a clinical-stage oncology therapeutics company, engages in research, development, and commercialization of diffusing alpha-emitters radiation therapy (Alpha DaRT) for the treatment of solid cancer In Israel and the United States. Its Alpha-DaRT technology used in clinical trials for skin, oral, pancreatic, prostate, and breast cancers; and preclinical studies for brain, hepatic cell carcinoma, glioblastoma multiforme, lung cancer, and others.