Insider Selling: Alpha Tau Medical (NASDAQ:DRTS) CFO Sells $240,000.00 in Stock

Alpha Tau Medical Ltd. (NASDAQ:DRTS) CFO Raphi Levy sold 20,000 shares of the company’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $12.00, for a total transaction of $240,000.00. Following the transaction, the chief financial officer owned 90,180 shares of the company’s stock, valued at $1,082,160. This represents a 18.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Raphi Levy also recently made the following trade(s):

• On Wednesday, July 1st, Raphi Levy sold 2,127 shares of Alpha Tau Medical stock. The shares were sold at an average price of $13.02, for a total transaction of $27,693.54.
• On Thursday, June 25th, Raphi Levy sold 20,000 shares of Alpha Tau Medical stock. The shares were sold at an average price of $11.00, for a total transaction of $220,000.00.
• On Tuesday, June 23rd, Raphi Levy sold 17,500 shares of Alpha Tau Medical stock. The stock was sold at an average price of $9.55, for a total transaction of $167,125.00.
• On Wednesday, June 3rd, Raphi Levy sold 32,500 shares of Alpha Tau Medical stock. The shares were sold at an average price of $10.83, for a total transaction of $351,975.00.

Alpha Tau Medical Stock Performance

Shares of NASDAQ DRTS opened at $13.23 on Friday. Alpha Tau Medical Ltd. has a 12-month low of $2.87 and a 12-month high of $13.23. The company has a market cap of $1.20 billion, a PE ratio of -19.75 and a beta of 1.17. The stock has a 50 day simple moving average of $9.85 and a 200-day simple moving average of $7.89. 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 (NASDAQ:DRTS) last announced its earnings results 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). On average, equities research analysts forecast that Alpha Tau Medical Ltd. will post -0.67 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of DRTS. Envestnet Asset Management Inc. bought a new stake in Alpha Tau Medical in the third quarter worth about $62,000. Bank of America Corp DE boosted its position 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 valued at $101,000 after purchasing an additional 21,677 shares in the last quarter. Millennium Management LLC bought a new position in shares of Alpha Tau Medical during the 3rd quarter valued at about $170,000. Mariner LLC grew its stake in shares of Alpha Tau Medical by 185.8% in 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. Finally, Apella Capital LLC acquired a new position in shares of Alpha Tau Medical in the 4th quarter worth approximately $1,892,000. 2.65% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Citigroup lifted their price objective on shares of Alpha Tau Medical from $7.00 to $9.00 and gave the company a “buy” rating in a research note on Wednesday, March 11th. LADENBURG THALM/SH SH raised their target price 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. Zacks Research cut shares of Alpha Tau Medical from a “hold” rating to a “strong sell” rating in a research note on Wednesday. Barclays boosted their price target on shares of Alpha Tau Medical from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday, June 4th. Finally, Piper Sandler upped their price target on shares of Alpha Tau Medical from $5.00 to $8.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 19th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $12.60.

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.