Alpha Tau Medical Ltd. (NASDAQ:DRTS) Receives Average Rating of “Hold” from Analysts

Alpha Tau Medical Ltd. (NASDAQ:DRTS) has received an average rating of “Hold” from the seven analysts that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $12.60.

A number of equities research analysts have weighed in on DRTS shares. Piper Sandler boosted their price objective on Alpha Tau Medical from $5.00 to $8.00 and gave the company a “neutral” rating in a research note on Tuesday, May 19th. Citigroup raised their target price on shares of Alpha Tau Medical from $7.00 to $9.00 and gave the stock a “buy” rating in a research report on Wednesday, March 11th. LADENBURG THALM/SH SH lifted their target price on shares of Alpha Tau Medical from $12.00 to $14.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Barclays increased their price target on shares of Alpha Tau Medical from $15.00 to $17.00 and gave the stock an “overweight” rating in a research note on Thursday, June 4th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Alpha Tau Medical in a research report on Monday, April 20th.

Alpha Tau Medical Stock Up 4.8%

DRTS opened at $9.68 on Friday. Alpha Tau Medical has a one year low of $2.85 and a one year high of $11.62. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.79 and a current ratio of 7.79. The stock has a market capitalization of $874.39 million, a P/E ratio of -14.45 and a beta of 1.19. The business’s 50-day simple moving average is $8.79 and its 200-day simple moving average is $7.16.

Alpha Tau Medical (NASDAQ:DRTS) last announced 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). Analysts anticipate that Alpha Tau Medical will post -0.67 EPS for the current year.

Insider Activity

In related news, CFO Raphi Levy sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $10.83, for a total transaction of $351,975.00. Following the transaction, the chief financial officer owned 147,680 shares of the company’s stock, valued at $1,599,374.40. This trade represents a 18.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 39.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Alpha Tau Medical

A number of hedge funds have recently added to or reduced their stakes in the stock. Apella Capital LLC purchased a new position in shares of Alpha Tau Medical in the 4th quarter valued at approximately $1,892,000. Levin Capital Strategies L.P. raised its stake in shares of Alpha Tau Medical by 6.3% during the third quarter. Levin Capital Strategies L.P. now owns 204,714 shares of the company’s stock worth $923,000 after purchasing an additional 12,200 shares during the last quarter. Daytona Street Capital LLC purchased a new stake in shares of Alpha Tau Medical during the fourth quarter worth approximately $749,000. Mariner LLC lifted its holdings 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 worth $620,000 after purchasing an additional 1,915 shares during the period. Finally, Millennium Management LLC grew 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 buying an additional 70,081 shares during the last quarter. 2.65% of the stock is owned by institutional investors and hedge funds.

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.