Alpha Tau Medical (NASDAQ:DRTS) Hits New 52-Week High – Time to Buy?

Alpha Tau Medical Ltd. (NASDAQ:DRTS)’s stock price reached a new 52-week high during trading on Friday . The company traded as high as $15.11 and last traded at $15.0750, with a volume of 355484 shares changing hands. The stock had previously closed at $14.62.

Analyst Upgrades and Downgrades

DRTS has been the subject of several research analyst reports. Zacks Research cut Alpha Tau Medical from a “hold” rating to a “strong sell” rating in a research report on Tuesday. HC Wainwright increased their price objective on shares of Alpha Tau Medical from $15.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. LADENBURG THALM/SH SH lifted their price objective on shares of Alpha Tau Medical from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Benchmark restated a “buy” rating on shares of Alpha Tau Medical in a research report on Thursday, July 23rd. Finally, Piper Sandler lifted their price target on shares of Alpha Tau Medical from $5.00 to $8.00 and gave the company a “neutral” rating in a report on Tuesday, May 19th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Alpha Tau Medical has an average rating of “Hold” and a consensus target price of $15.40.

Alpha Tau Medical Price Performance

The company has a market cap of $1.35 billion, a P/E ratio of -14.42 and a beta of 1.20. The firm’s 50-day moving average is $13.26 and its two-hundred day moving average is $10.09. The company has a debt-to-equity ratio of 0.15, a current ratio of 11.09 and a quick ratio of 7.79.

Alpha Tau Medical (NASDAQ:DRTS) last issued its quarterly earnings data on Monday, August 10th. The company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.36). Analysts anticipate that Alpha Tau Medical Ltd. will post -0.92 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Raphi Levy sold 2,871 shares of the firm’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $15.00, for a total value of $43,065.00. Following the completion of the sale, the chief financial officer directly owned 90,180 shares in the company, valued at $1,352,700. This trade represents a 3.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 100,371 shares of company stock worth $1,210,233. Corporate insiders own 39.50% of the company’s stock.

Institutional Investors Weigh In On Alpha Tau Medical

Institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC bought a new position in Alpha Tau Medical during the 1st quarter valued at about $286,000. Millennium Management LLC boosted its position in shares of Alpha Tau Medical by 185.7% during the fourth quarter. Millennium Management LLC now owns 107,815 shares of the company’s stock valued at $534,000 after buying an additional 70,081 shares during the period. Mariner LLC grew its stake in shares of Alpha Tau Medical by 1.6% during the fourth quarter. Mariner LLC now owns 125,165 shares of the company’s stock valued at $620,000 after buying an additional 1,915 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of Alpha Tau Medical by 291.7% in the fourth quarter. Wells Fargo & Company MN now owns 23,500 shares of the company’s stock worth $116,000 after buying an additional 17,500 shares during the period. Finally, Bank of America Corp DE lifted its stake in shares of Alpha Tau Medical by 2,779.1% during the 3rd 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. Institutional investors own 2.65% 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.