Alpha Tau Medical (NASDAQ:DRTS) Stock Price Down 5.4% Following Insider Selling

Key Points

• Alpha Tau Medical shares fell 5.4% to about $13.51 after CFO Raphi Levy sold 17,730 shares for $248,220 under a pre-arranged Rule 10b5-1 plan, reducing his position by 16.43%.
• Analyst sentiment remains generally positive, with five Buy, two Hold, and one Sell rating; the consensus is “Moderate Buy,” although the average price target of $12.80 is below the recent share price.
• The company reported a quarterly EPS loss of $0.50, missing the $0.14-loss consensus, while revenue of $0.10 million also fell short of estimates.

Alpha Tau Medical Ltd. (NASDAQ:DRTS - Get Free Report) shares traded down 5.4% during mid-day trading on Wednesday following insider selling activity. The company traded as low as $13.57 and last traded at $13.5050. 137,639 shares were traded during trading, a decline of 77% from the average session volume of 590,282 shares. The stock had previously closed at $14.27.

Specifically, CFO Raphi Levy sold 17,730 shares of Alpha Tau Medical stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $14.00, for a total transaction of $248,220.00. Following the completion of the transaction, the chief financial officer directly owned 90,180 shares in the company, valued at $1,262,520. The trade was a 16.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Ratings Changes

A number of brokerages have commented on DRTS. HC Wainwright increased their target price on Alpha Tau Medical from $15.00 to $16.00 and gave the company a "buy" rating in a report on Tuesday. Weiss Ratings restated a "sell (d-)" rating on shares of Alpha Tau Medical in a research report on Friday, July 17th. LADENBURG THALM/SH SH boosted 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. Barclays upped their target price on shares of Alpha Tau Medical from $15.00 to $17.00 and gave the company an "overweight" rating in a report on Thursday, June 4th. Finally, Piper Sandler raised 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. Five 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's stock. Based on data from MarketBeat, Alpha Tau Medical has a consensus rating of "Moderate Buy" and an average price target of $12.80.

Alpha Tau Medical Stock Down 4.6%

The stock has a market cap of $1.23 billion, a price-to-earnings ratio of -13.10 and a beta of 1.17. The company has a quick ratio of 7.79, a current ratio of 7.79 and a debt-to-equity ratio of 0.09. The stock has a fifty day moving average of $11.68 and a two-hundred day moving average of $9.23.

Alpha Tau Medical (NASDAQ:DRTS - Get Free Report) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.36). The firm had revenue of $0.10 million for the quarter, compared to the consensus estimate of $0.14 million. As a group, analysts predict that Alpha Tau Medical Ltd. will post -0.67 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Trifecta Capital Advisors LLC bought a new stake in shares of Alpha Tau Medical in the 4th quarter valued at approximately $48,000. Envestnet Asset Management Inc. acquired a new position in Alpha Tau Medical in the third quarter worth $62,000. Bank of America Corp DE boosted its holdings 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 purchasing an additional 21,677 shares during the period. Wells Fargo & Company MN increased its stake in Alpha Tau Medical by 291.7% during the fourth quarter. Wells Fargo & Company MN now owns 23,500 shares of the company's stock valued at $116,000 after purchasing an additional 17,500 shares during the last quarter. Finally, Everhart Financial Group Inc. bought a new stake in Alpha Tau Medical during the second quarter valued at $126,000. Institutional investors own 2.65% of the company's stock.

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.

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