Insider Selling: Alpha Tau Medical (NASDAQ:DRTS) CFO Sells 17,500 Shares

Alpha Tau Medical Ltd. (NASDAQ:DRTS) CFO Raphi Levy sold 17,500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $9.55, for a total transaction of $167,125.00. Following the completion of the sale, the chief financial officer owned 130,180 shares in the company, valued at $1,243,219. This represents a 11.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, 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, 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 value of $351,975.00.

Alpha Tau Medical Price Performance

DRTS stock traded up $0.74 during midday trading on Thursday, reaching $10.79. 244,277 shares of the stock were exchanged, compared to its average volume of 550,900. Alpha Tau Medical Ltd. has a 52 week low of $2.87 and a 52 week high of $11.62. The company has a fifty day moving average price of $9.27 and a 200 day moving average price of $7.54. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.79 and a quick ratio of 7.79. The stock has a market capitalization of $974.30 million, a PE ratio of -16.19 and a beta of 1.19.

Alpha Tau Medical (NASDAQ:DRTS) last released its quarterly 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). As a group, analysts expect that Alpha Tau Medical Ltd. will post -0.67 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

DRTS has been the topic of several analyst reports. Barclays boosted their price objective on shares of Alpha Tau Medical from $15.00 to $17.00 and gave the stock an “overweight” rating in a research note on Thursday, June 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alpha Tau Medical in a research report on Monday, April 20th. Piper Sandler increased their price target on Alpha Tau Medical from $5.00 to $8.00 and gave the company a “neutral” rating in a research note on Tuesday, May 19th. HC Wainwright restated a “buy” rating and set a $15.00 price objective on shares of Alpha Tau Medical in a research report on Tuesday, June 2nd. Finally, Citigroup lifted their price objective on 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 analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $12.60.

Hedge Funds Weigh In On Alpha Tau Medical

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Daytona Street Capital LLC bought a new stake in Alpha Tau Medical during the fourth quarter valued at $749,000. Apella Capital LLC bought a new position in shares of Alpha Tau Medical in the 4th quarter worth about $1,892,000. Envestnet Asset Management Inc. acquired a new position in shares of Alpha Tau Medical in the 3rd quarter valued at about $62,000. Trifecta Capital Advisors LLC bought a new stake in shares of Alpha Tau Medical during the 4th quarter valued at about $48,000. Finally, Renaissance Technologies LLC acquired a new stake in Alpha Tau Medical during the first quarter worth approximately $286,000. Institutional investors and hedge funds 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.