Alpha Tau Medical (NASDAQ:DRTS) Trading Down 8.6% on Insider Selling

Alpha Tau Medical Ltd. (NASDAQ:DRTS) traded down 8.6% during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $12.30 and last traded at $12.4050. Approximately 335,309 shares changed hands during trading, a decline of 43% from the average daily volume of 588,528 shares. The stock had previously closed at $13.57.

Specifically, CFO Raphi Levy sold 2,270 shares of the firm’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $14.00, for a total transaction of $31,780.00. Following the sale, the chief financial officer owned 90,180 shares of the company’s stock, valued at $1,262,520. This trade represents a 2.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Raphi Levy sold 17,873 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $13.00, for a total transaction of $232,349.00. Following the transaction, the chief financial officer directly owned 90,180 shares of the company’s stock, valued at $1,172,340. The trade was a 16.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In related news, CFO Raphi Levy sold 2,127 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $13.02, for a total value of $27,693.54. Following the sale, the chief financial officer owned 90,180 shares in the company, valued at approximately $1,174,143.60. This trade represents a 2.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Citigroup boosted their target price 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. Zacks Research downgraded Alpha Tau Medical from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alpha Tau Medical in a report on Monday, April 20th. LADENBURG THALM/SH SH upped their price objective on Alpha Tau Medical from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Finally, HC Wainwright reissued a “buy” rating and issued a $15.00 target price on shares of Alpha Tau Medical in a report on Tuesday, June 2nd. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Alpha Tau Medical presently has a consensus rating of “Hold” and a consensus target price of $12.60.

Alpha Tau Medical Trading Down 9.2%

The stock has a fifty day moving average of $9.96 and a 200 day moving average of $7.97. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.79 and a current ratio of 7.79. The company has a market capitalization of $1.11 billion, a P/E ratio of -18.39 and a beta of 1.17.

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 analysts’ consensus estimates of ($0.13) by ($0.13). As a group, equities research analysts anticipate that Alpha Tau Medical Ltd. will post -0.67 EPS for the current fiscal year.

Hedge Funds Weigh In On Alpha Tau Medical

Large investors have recently made changes to their positions in the business. Trifecta Capital Advisors LLC purchased a new position in shares of Alpha Tau Medical in the fourth quarter worth $48,000. Envestnet Asset Management Inc. purchased a new stake in shares of Alpha Tau Medical during the 3rd quarter valued at about $62,000. Principal Financial Group Inc. bought a new stake in shares of Alpha Tau Medical in the 1st quarter valued at approximately $132,000. Bank of America Corp DE lifted its position in Alpha Tau Medical by 2,779.1% in the third 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. Finally, Wells Fargo & Company MN lifted its holdings in shares of Alpha Tau Medical by 291.7% in the 4th quarter. Wells Fargo & Company MN now owns 23,500 shares of the company’s stock worth $116,000 after acquiring an additional 17,500 shares during the last quarter. 2.65% of the stock is currently owned by hedge funds and other institutional investors.

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.