Alpha Tau Medical (NASDAQ:DRTS) Sets 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 Monday . The stock traded as high as $9.90 and last traded at $9.9750, with a volume of 1997160 shares changing hands. The stock had previously closed at $8.51.

Wall Street Analyst Weigh In

DRTS has been the topic of several research reports. Piper Sandler reissued a “neutral” rating and issued a $5.00 price objective on shares of Alpha Tau Medical in a research report on Wednesday, March 4th. HC Wainwright reissued a “buy” rating and issued a $12.00 price objective on shares of Alpha Tau Medical in a research report on Tuesday, March 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Alpha Tau Medical in a research report on Monday, April 20th. Zacks Research raised Alpha Tau Medical from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 17th. Finally, Citigroup raised their price objective on Alpha Tau Medical from $7.00 to $9.00 and gave the company a “buy” rating in a research report on Wednesday, March 11th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $8.67.

Alpha Tau Medical Stock Performance

The firm has a market capitalization of $897.35 million, a PE ratio of -19.28 and a beta of 1.11. The company has a debt-to-equity ratio of 0.08, a current ratio of 7.45 and a quick ratio of 7.45. The stock has a 50-day moving average price of $7.38 and a 200-day moving average price of $6.10.

Alpha Tau Medical (NASDAQ:DRTS) last announced its earnings results on Monday, March 9th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). On average, research analysts expect that Alpha Tau Medical Ltd. will post -0.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Alpha Tau Medical

Hedge funds have recently bought and sold shares of the company. Daytona Street Capital LLC acquired a new position in Alpha Tau Medical in the fourth quarter worth about $749,000. Apella Capital LLC acquired a new position in Alpha Tau Medical in the fourth quarter worth about $1,892,000. Bank of America Corp DE grew its stake in 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 purchasing an additional 21,677 shares in the last quarter. Millennium Management LLC acquired a new position in Alpha Tau Medical in the third quarter worth about $170,000. Finally, Mariner LLC grew its stake in Alpha Tau Medical by 185.8% in the third quarter. Mariner LLC now owns 123,250 shares of the company’s stock worth $556,000 after purchasing an additional 80,129 shares in the last quarter. 2.65% of the stock is currently 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.