Alpha Tau Medical Ltd. $DRTS Shares Sold by Levin Capital Strategies L.P.

Levin Capital Strategies L.P. lessened its holdings in Alpha Tau Medical Ltd. (NASDAQ:DRTS) by 41.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 106,423 shares of the company’s stock after selling 75,808 shares during the period. Levin Capital Strategies L.P.’s holdings in Alpha Tau Medical were worth $752,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of DRTS. Trifecta Capital Advisors LLC acquired a new stake in shares of Alpha Tau Medical in the fourth quarter valued at approximately $48,000. Envestnet Asset Management Inc. acquired a new position in shares of Alpha Tau Medical during the 3rd quarter worth approximately $62,000. Bank of America Corp DE lifted its stake in Alpha Tau Medical by 2,779.1% in the 3rd quarter. Bank of America Corp DE now owns 22,457 shares of the company’s stock valued at $101,000 after buying an additional 21,677 shares in the last quarter. Wells Fargo & Company MN grew its holdings in Alpha Tau Medical by 291.7% during the 4th quarter. Wells Fargo & Company MN now owns 23,500 shares of the company’s stock valued at $116,000 after buying an additional 17,500 shares during the last quarter. Finally, Principal Financial Group Inc. acquired a new stake in Alpha Tau Medical during the 1st quarter valued at $132,000. 2.65% of the stock is currently owned by institutional investors and hedge funds.

Alpha Tau Medical Trading Down 2.3%

Shares of DRTS stock opened at $13.01 on Thursday. The firm’s 50-day simple moving average is $11.03 and its 200-day simple moving average is $8.62. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.79 and a quick ratio of 7.79. Alpha Tau Medical Ltd. has a 1-year low of $2.87 and a 1-year high of $14.11. The firm has a market cap of $1.18 billion, a P/E ratio of -19.42 and a beta of 1.17.

Alpha Tau Medical (NASDAQ:DRTS) last released its earnings results on Monday, May 18th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.13). As a group, equities analysts forecast that Alpha Tau Medical Ltd. will post -0.67 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on DRTS shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Alpha Tau Medical in a research report on Friday, July 17th. Piper Sandler upped their price objective on Alpha Tau Medical from $5.00 to $8.00 and gave the company a “neutral” rating in a research report on Tuesday, May 19th. Zacks Research lowered Alpha Tau Medical from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 1st. Barclays lifted their price objective on Alpha Tau Medical from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday, June 4th. Finally, HC Wainwright reissued a “buy” rating and issued a $15.00 target price on shares of Alpha Tau Medical in a research note on Wednesday. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $12.60.

Insiders Place Their Bets

In other Alpha Tau Medical news, CFO Raphi Levy sold 32,500 shares of Alpha Tau Medical stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $10.83, for a total value of $351,975.00. Following the transaction, the chief financial officer owned 147,680 shares in the company, valued at $1,599,374.40. This trade represents a 18.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 112,270 shares of company stock worth $1,270,923 over the last quarter. Company insiders own 39.50% of the company’s stock.

About Alpha Tau Medical

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.