Alpha Tau Medical Ltd. (NASDAQ:DRTS) Sees Significant Increase in Short Interest

Alpha Tau Medical Ltd. (NASDAQ:DRTS) was the recipient of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 122,000 shares, a growth of 60.7% from the February 28th total of 75,900 shares. Approximately 0.2% of the shares of the stock are short sold. Based on an average trading volume of 89,000 shares, the short-interest ratio is currently 1.4 days.

Alpha Tau Medical Price Performance

Alpha Tau Medical stock traded down $0.07 during midday trading on Monday, reaching $2.49. The company had a trading volume of 37,323 shares, compared to its average volume of 48,671. Alpha Tau Medical has a 12-month low of $1.75 and a 12-month high of $4.39. The company has a market capitalization of $175.25 million, a P/E ratio of -5.79 and a beta of 0.87. The firm’s fifty day simple moving average is $3.08 and its 200-day simple moving average is $2.81.

Alpha Tau Medical (NASDAQ:DRTS) last issued its earnings results on Wednesday, March 12th. The company reported ($0.13) earnings per share for the quarter, hitting the consensus estimate of ($0.13). On average, analysts expect that Alpha Tau Medical will post -0.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright restated a “buy” rating and issued a $9.00 price target on shares of Alpha Tau Medical in a research note on Monday, March 17th.

Hedge Funds Weigh In On Alpha Tau Medical

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DRTS. Levin Capital Strategies L.P. raised its holdings in shares of Alpha Tau Medical by 2.3% during the 4th quarter. Levin Capital Strategies L.P. now owns 314,514 shares of the company’s stock worth $975,000 after acquiring an additional 7,189 shares during the period. Northern Trust Corp increased its position in Alpha Tau Medical by 112.6% during the fourth quarter. Northern Trust Corp now owns 48,666 shares of the company’s stock worth $151,000 after purchasing an additional 25,770 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in Alpha Tau Medical by 188.7% during the fourth quarter. Renaissance Technologies LLC now owns 41,000 shares of the company’s stock worth $127,000 after purchasing an additional 26,800 shares during the period. Institutional investors and hedge funds own 2.65% of the company’s stock.

About Alpha Tau Medical

Alpha Tau Medical Ltd., a clinical-stage oncology therapeutics company, engages in research, development, and commercialization of diffusing alpha-emitters radiation therapy (Alpha DaRT) for the treatment of solid cancer In Israel and the United States. Its Alpha-DaRT technology used in clinical trials for skin, oral, pancreatic, prostate, and breast cancers; and preclinical studies for brain, hepatic cell carcinoma, glioblastoma multiforme, lung cancer, and others.