Alpha Tau Medical Ltd. (NASDAQ:DRTS) Short Interest Update

Key Points

• Short interest jumped by 34.4% in March to 771,223 shares (about 1.5% of the stock), yielding a short-interest ratio of 3.6 days based on average daily volume.
• Several hedge funds recently initiated or increased positions (Daytona, Apella, Millennium, Mariner, Levin) but institutional ownership remains low at 2.65%; analysts are mixed with a consensus rating of Hold and a $8.67 target (two Buys, two Holds, one Sell), including Citigroup at $9 and HC Wainwright at $12.
• Alpha Tau trades at $7.88 with a $668.4M market cap, reported a quarterly loss of $0.14 EPS (miss) and is forecast to post about -0.45 EPS for the year, with a 1‑year range of $2.50–$8.60.

Alpha Tau Medical Ltd. (NASDAQ:DRTS - Get Free Report) saw a significant increase in short interest in the month of March. As of March 31st, there was short interest totaling 771,223 shares, an increase of 34.4% from the March 15th total of 573,837 shares. Currently, 1.5% of the company's stock are short sold. Based on an average daily trading volume, of 212,421 shares, the short-interest ratio is currently 3.6 days.

Institutional Investors Weigh In On Alpha Tau Medical

Several hedge funds have recently added to or reduced their stakes in DRTS. Daytona Street Capital LLC purchased a new stake in shares of Alpha Tau Medical during the 4th quarter worth about $749,000. Apella Capital LLC purchased a new position in Alpha Tau Medical in the 4th quarter valued at about $1,892,000. Millennium Management LLC purchased a new position in Alpha Tau Medical in the 3rd quarter valued at about $170,000. Mariner LLC lifted its stake in Alpha Tau Medical by 185.8% in the 3rd quarter. Mariner LLC now owns 123,250 shares of the company's stock valued at $556,000 after buying an additional 80,129 shares in the last quarter. Finally, Levin Capital Strategies L.P. lifted its stake in Alpha Tau Medical by 6.3% in the 3rd quarter. Levin Capital Strategies L.P. now owns 204,714 shares of the company's stock valued at $923,000 after buying an additional 12,200 shares in the last quarter. 2.65% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Zacks Research upgraded Alpha Tau Medical from a "strong sell" rating to a "hold" rating in a report on Tuesday, February 17th. Weiss Ratings restated a "sell (d-)" rating on shares of Alpha Tau Medical in a report on Wednesday, January 21st. HC Wainwright restated a "buy" rating and set a $12.00 target price on shares of Alpha Tau Medical in a report on Tuesday, March 10th. Piper Sandler restated a "neutral" rating and set a $5.00 target price on shares of Alpha Tau Medical in a report on Wednesday, March 4th. Finally, Citigroup upped their target price on Alpha Tau Medical from $7.00 to $9.00 and gave the stock a "buy" rating in a report on Wednesday, March 11th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $8.67.

Alpha Tau Medical Stock Performance

Alpha Tau Medical stock traded up $0.05 during trading hours on Wednesday, hitting $7.88. 267,022 shares of the stock traded hands, compared to its average volume of 341,721. The firm's 50 day moving average price is $7.22 and its 200-day moving average price is $5.70. The company has a debt-to-equity ratio of 0.08, a current ratio of 7.45 and a quick ratio of 7.45. The stock has a market capitalization of $668.38 million, a price-to-earnings ratio of -14.87 and a beta of 1.04. Alpha Tau Medical has a 1 year low of $2.50 and a 1 year high of $8.60.

Alpha Tau Medical (NASDAQ:DRTS - Get Free Report) last announced its quarterly earnings data on Monday, March 9th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.01). As a group, equities analysts expect that Alpha Tau Medical will post -0.45 EPS for the current fiscal year.

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.

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