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

In March, Alpha Tau Medical Ltd. (NASDAQ:DRTS) experienced a notable rise in short interest. By March 15th, the total short interest reached 122,000 shares, marking a 60.7% increase from the previous month’s figure of 75,900 shares as of February 28th. Currently, around 0.2% of the company's shares are sold short. With an average trading volume of 89,000 shares, this translates to a short-interest ratio of approximately 1.4 days.

Recent Institutional Activity

Recent months have seen various institutional investors making moves regarding Alpha Tau Medical's shares. Renaissance Technologies LLC boosted its stake by an impressive 188.7% during the fourth quarter, now holding 41,000 shares valued at $127,000 after adding 26,800 shares. Northern Trust Corp has also expanded its position by 112.6% during the same period, acquiring an additional 25,770 shares to reach a total of 48,666 shares valued at $151,000. Furthermore, Levin Capital Strategies L.P. increased its holdings by 2.3% in the fourth quarter, bringing its total to 314,514 shares worth approximately $975,000. It is important to note that institutional investors and hedge funds together own about 2.65% of the company's stock.

Analyst Opinions

On March 17th, HC Wainwright reiterated a "buy" rating on Alpha Tau Medical, setting a price target of $9.00 for the stock in a recent research note.

Stock Performance Overview

On the trading floor, Alpha Tau Medical (NASDAQ:DRTS) saw its stock fall by $0.10 on Friday, reaching a price of $2.56. The trading volume that day was 25,356 shares, while the average volume stands at 48,716 shares. The stock has fluctuated in the past year, hitting a low of $1.75 and a high of $4.39. Alpha Tau Medical currently has a market capitalization of $180.18 million, a price-to-earnings (P/E) ratio of -5.95, and a beta of 0.87. The company's 50-day and 200-day simple moving averages are $3.08 and $2.81, respectively.

The latest quarterly earnings results from Alpha Tau Medical were released on March 12th, showing an earnings per share (EPS) of ($0.13), which aligns with analysts' expectations. Projections suggest the company may report an EPS of -0.45 for the current year.

About Alpha Tau Medical

Alpha Tau Medical Ltd. is a clinical-stage company focusing on oncology therapies. It is engaged in the research, development, and commercialization of diffusing alpha-emitters radiation therapy (Alpha DaRT), specifically for the treatment of solid cancers in both Israel and the United States. The Alpha-DaRT technology is currently being tested in clinical trials for various cancer types, including skin, oral, pancreatic, prostate, and breast cancers, in addition to preclinical studies for other conditions such as brain tumors.

investment, stocks, healthcare