Alpha Tau Medical (NASDAQ:DRTS) Hits New 12-Month High – Still a Buy?

Shares of Alpha Tau Medical Ltd. (NASDAQ:DRTS) reached a new 52-week high during trading on Friday . The stock traded as high as $14.79 and last traded at $14.75, with a volume of 46145 shares changing hands. The stock had previously closed at $14.36.

Analyst Ratings Changes

DRTS has been the subject of a number of recent analyst reports. HC Wainwright lifted 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. Weiss Ratings reissued a “sell (d-)” rating on shares of Alpha Tau Medical in a research note on Friday, July 17th. LADENBURG THALM/SH SH raised their target price on 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 note on Thursday, July 23rd. Finally, Barclays lifted their price target on Alpha Tau Medical from $15.00 to $17.00 and gave the company an “overweight” rating in a research note on Thursday, June 4th. 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.com, Alpha Tau Medical currently has a consensus rating of “Moderate Buy” and an average price target of $12.80.

Alpha Tau Medical Stock Up 3.0%

The stock has a market cap of $1.34 billion, a PE ratio of -14.22 and a beta of 1.17. The company has a current ratio of 11.09, a quick ratio of 7.79 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average price of $12.33 and a 200-day moving average price of $9.57.

Alpha Tau Medical (NASDAQ:DRTS) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.50) earnings per share (EPS) 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 analysts’ expectations of $0.14 million. As a group, analysts forecast that Alpha Tau Medical Ltd. will post -0.92 earnings per share for the current year.

Insider Transactions at Alpha Tau Medical

In other news, CFO Raphi Levy sold 32,500 shares of the business’s 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 completion of the sale, the chief financial officer owned 147,680 shares of the company’s stock, valued at $1,599,374.40. The trade was a 18.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 130,000 shares of company stock worth $1,519,143 over the last quarter. Company insiders own 39.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of DRTS. Mariner LLC lifted its holdings in Alpha Tau Medical by 185.8% in the 3rd quarter. Mariner LLC now owns 123,250 shares of the company’s stock valued at $556,000 after purchasing an additional 80,129 shares in the last quarter. Millennium Management LLC grew its holdings 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 worth $534,000 after buying an additional 70,081 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Alpha Tau Medical during the first quarter worth $286,000. Bank of America Corp DE raised its position 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 valued at $101,000 after buying an additional 21,677 shares during the last quarter. Finally, Principal Financial Group Inc. acquired a new stake in shares of Alpha Tau Medical in the first quarter valued at about $132,000. 2.65% of the stock is owned by hedge funds and other institutional investors.

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.