Alpha Tau Medical Ltd. (NASDAQ:DRTS) Sees Large Decline in Short Interest

Alpha Tau Medical Ltd. (NASDAQ:DRTS) was the target of a significant drop in short interest in January. As of January 31st, there was short interest totalling 101,900 shares, a drop of 21.6% from the January 15th total of 130,000 shares. Approximately 0.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 85,200 shares, the days-to-cover ratio is presently 1.2 days.

Institutional Investors Weigh In On Alpha Tau Medical

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

Alpha Tau Medical Trading Up 2.6 %

NASDAQ:DRTS traded up $0.08 on Monday, reaching $3.14. 31,523 shares of the stock traded hands, compared to its average volume of 148,702. The firm has a market capitalization of $219.56 million, a price-to-earnings ratio of -7.30 and a beta of 0.83. Alpha Tau Medical has a 1-year low of $1.75 and a 1-year high of $4.39. The company’s 50 day moving average is $3.39 and its 200-day moving average is $2.70.

Analyst Ratings Changes

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $9.00 target price on shares of Alpha Tau Medical in a report on Friday, November 22nd.

Alpha Tau Medical Company Profile

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.