40,457 Shares in Alpha Tau Medical Ltd. $DRTS Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC purchased a new stake in Alpha Tau Medical Ltd. (NASDAQ:DRTS) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 40,457 shares of the company’s stock, valued at approximately $286,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mariner LLC increased its stake in shares of Alpha Tau Medical by 185.8% in the third quarter. Mariner LLC now owns 123,250 shares of the company’s stock valued at $556,000 after buying an additional 80,129 shares in the last quarter. Millennium Management LLC increased its position in Alpha Tau Medical by 185.7% in the 4th quarter. Millennium Management LLC now owns 107,815 shares of the company’s stock valued at $534,000 after acquiring an additional 70,081 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Alpha Tau Medical by 2,779.1% in the third quarter. Bank of America Corp DE now owns 22,457 shares of the company’s stock worth $101,000 after acquiring an additional 21,677 shares during the last quarter. Principal Financial Group Inc. acquired a new position in shares of Alpha Tau Medical during the first quarter worth approximately $132,000. Finally, Wells Fargo & Company MN grew its stake in shares of Alpha Tau Medical by 291.7% during the fourth quarter. Wells Fargo & Company MN now owns 23,500 shares of the company’s stock valued at $116,000 after purchasing an additional 17,500 shares during the last quarter. 2.65% of the stock is currently owned by institutional investors and hedge funds.

Alpha Tau Medical Price Performance

Alpha Tau Medical stock opened at $14.47 on Thursday. The firm has a market capitalization of $1.31 billion, a P/E ratio of -13.91 and a beta of 1.17. Alpha Tau Medical Ltd. has a 1 year low of $3.03 and a 1 year high of $14.75. The business has a 50-day moving average of $12.23 and a 200-day moving average of $9.52. The company has a current ratio of 11.09, a quick ratio of 7.79 and a debt-to-equity ratio of 0.15.

Alpha Tau Medical (NASDAQ:DRTS) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.36). The company had revenue of $0.10 million for the quarter, compared to analyst estimates of $0.14 million. On average, equities analysts anticipate that Alpha Tau Medical Ltd. will post -0.92 EPS for the current year.

Insiders Place Their Bets

In other Alpha Tau Medical news, CFO Raphi Levy sold 17,730 shares of the stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $14.00, for a total value of $248,220.00. Following the sale, the chief financial officer directly owned 90,180 shares in the company, valued at approximately $1,262,520. This trade represents a 16.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 130,000 shares of company stock valued at $1,519,143 in the last quarter. Company insiders own 39.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. 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 report on Thursday, June 4th. Zacks Research raised Alpha Tau Medical from a “strong sell” rating to a “hold” rating in a research note on Monday, August 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Alpha Tau Medical in a research report on Friday, July 17th. Benchmark reaffirmed a “buy” rating on shares of Alpha Tau Medical in a research note on Thursday, July 23rd. Finally, HC Wainwright lifted their price objective on Alpha Tau Medical from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Alpha Tau Medical presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.80.

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.