Alpha Tau Medical (NASDAQ:DRTS) Hits New 12-Month High After Analyst Upgrade

Shares of Alpha Tau Medical Ltd. (NASDAQ:DRTS) hit a new 52-week high on Tuesday after HC Wainwright raised their price target on the stock from $15.00 to $16.00. HC Wainwright currently has a buy rating on the stock. Alpha Tau Medical traded as high as $14.11 and last traded at $13.8140, with a volume of 457235 shares trading hands. The stock had previously closed at $13.60.

DRTS has been the subject of a number of other research reports. 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 reissued a “sell (d-)” rating on shares of Alpha Tau Medical in a research report on Friday, July 17th. LADENBURG THALM/SH SH boosted their target price on shares of Alpha Tau Medical from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Barclays lifted their price objective on Alpha Tau Medical from $15.00 to $17.00 and gave the stock an “overweight” rating in a report on Thursday, June 4th. Finally, Benchmark reiterated a “buy” rating on shares of Alpha Tau Medical in a research report on Thursday, July 23rd. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $12.80.

Insider Transactions at Alpha Tau Medical

In related news, CFO Raphi Levy sold 32,500 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $10.83, for a total transaction of $351,975.00. Following the sale, the chief financial officer directly owned 147,680 shares of the company’s stock, valued at approximately $1,599,374.40. This represents a 18.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 112,270 shares of company stock worth $1,270,923 in the last three months. 39.50% of the stock is currently owned by insiders.

Institutional Trading of Alpha Tau Medical

Several large investors have recently added to or reduced their stakes in DRTS. Mariner LLC grew its holdings in shares of Alpha Tau Medical by 1.6% in the fourth quarter. Mariner LLC now owns 125,165 shares of the company’s stock valued at $620,000 after purchasing an additional 1,915 shares in the last quarter. Trifecta Capital Advisors LLC purchased a new stake in shares of Alpha Tau Medical during the 4th quarter valued at about $48,000. Everhart Financial Group Inc. bought a new position in shares of Alpha Tau Medical in the 2nd quarter valued at about $126,000. Envestnet Asset Management Inc. bought a new stake in shares of Alpha Tau Medical in the 3rd quarter valued at approximately $62,000. Finally, Wells Fargo & Company MN lifted its stake in shares of Alpha Tau Medical by 291.7% in the 4th 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.

Alpha Tau Medical Stock Performance

The company has a debt-to-equity ratio of 0.09, a current ratio of 7.79 and a quick ratio of 7.79. The business has a 50-day moving average of $11.57 and a 200-day moving average of $9.17. The company has a market capitalization of $1.25 billion, a P/E ratio of -20.63 and a beta of 1.17.

Alpha Tau Medical (NASDAQ:DRTS) last posted its quarterly earnings data 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). On average, sell-side analysts anticipate that Alpha Tau Medical Ltd. will post -0.67 EPS for the current year.

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.