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

Key Points

• Alpha Tau Medical shares fell 8.6% after insider selling, trading as low as $12.30 and closing near $12.41 on volume below average.
• CFO Raphi Levy sold shares in multiple transactions in early July, including sales under a pre-arranged Rule 10b5-1 plan, reducing his position modestly.
• Analyst sentiment is mixed: the stock’s consensus rating is “Hold” with a $12.60 average target, while recent calls ranged from “strong sell” to “buy.”

Alpha Tau Medical Ltd. (NASDAQ:DRTS - Get Free Report) traded down 8.6% during trading on Tuesday following insider selling activity. The company 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 stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $14.00, for a total value of $31,780.00. Following the completion of the transaction, the chief financial officer owned 90,180 shares of the company's stock, valued at approximately $1,262,520. This represents a 2.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Raphi Levy sold 17,873 shares of the firm'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 value of $232,349.00. Following the completion of the transaction, the chief financial officer owned 90,180 shares of the company's stock, valued at approximately $1,172,340. The trade was a 16.54% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In related news, CFO Raphi Levy sold 2,127 shares of Alpha Tau Medical stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $13.02, for a total transaction of $27,693.54. Following the sale, the chief financial officer directly owned 90,180 shares in the company, valued at $1,174,143.60. The trade was a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Upgrades and Downgrades

DRTS has been the topic of several recent research reports. Zacks Research cut Alpha Tau Medical from a "hold" rating to a "strong sell" rating in a research note on Wednesday, July 1st. LADENBURG THALM/SH SH raised 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. Weiss Ratings restated a "sell (d-)" rating on shares of Alpha Tau Medical in a report on Monday, April 20th. HC Wainwright reaffirmed a "buy" rating and issued a $15.00 target price on shares of Alpha Tau Medical in a research report on Tuesday, June 2nd. Finally, Citigroup increased their price target on shares of Alpha Tau Medical from $7.00 to $9.00 and gave the stock a "buy" rating in a research note on Wednesday, March 11th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $12.60.

Alpha Tau Medical Stock Performance

The company has a current ratio of 7.79, a quick ratio of 7.79 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $1.11 billion, a P/E ratio of -18.39 and a beta of 1.17. The business's 50 day simple moving average is $9.96 and its two-hundred day simple moving average is $7.97.

Alpha Tau Medical (NASDAQ:DRTS - Get Free Report) last issued its earnings results on Monday, May 18th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.13). Sell-side 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

Hedge funds have recently added to or reduced their stakes in the company. Apella Capital LLC purchased a new stake in Alpha Tau Medical during the 4th quarter valued at $1,892,000. Daytona Street Capital LLC bought a new stake in shares of Alpha Tau Medical in the 4th quarter worth $749,000. Mariner LLC raised its stake in shares of Alpha Tau Medical by 1.6% in the fourth quarter. Mariner LLC now owns 125,165 shares of the company's stock worth $620,000 after purchasing an additional 1,915 shares during the last quarter. Millennium Management LLC raised its stake in shares of Alpha Tau Medical by 185.7% in the fourth quarter. Millennium Management LLC now owns 107,815 shares of the company's stock worth $534,000 after purchasing an additional 70,081 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Alpha Tau Medical during the first quarter valued at $286,000. 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.

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