Alpha Tau Medical (NASDAQ:DRTS) Upgraded to Hold at Zacks Research

Zacks Research upgraded shares of Alpha Tau Medical (NASDAQ:DRTS) from a strong sell rating to a hold rating in a research report report published on Monday,Zacks.com reports.

DRTS has been the subject of several other research reports. Barclays increased their target price on Alpha Tau Medical from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday, June 4th. Piper Sandler boosted their price target on Alpha Tau Medical from $5.00 to $8.00 and gave the stock a “neutral” rating in a report on Tuesday, May 19th. LADENBURG THALM/SH SH upped their price target on Alpha Tau Medical from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. HC Wainwright restated a “buy” rating and issued a $15.00 price target on shares of Alpha Tau Medical in a research note on Wednesday, July 22nd. Finally, Benchmark reaffirmed a “buy” rating on shares of Alpha Tau Medical in a report on Thursday, July 23rd. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $12.60.

Alpha Tau Medical Trading Up 9.7%

Shares of Alpha Tau Medical stock opened at $13.08 on Monday. The company has a market capitalization of $1.18 billion, a P/E ratio of -19.52 and a beta of 1.17. 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 company has a fifty day moving average of $11.33 and a 200 day moving average of $9.00. Alpha Tau Medical has a fifty-two week low of $2.98 and a fifty-two week high of $14.11.

Alpha Tau Medical (NASDAQ:DRTS) last issued its quarterly 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). On average, sell-side analysts anticipate that Alpha Tau Medical will post -0.67 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Raphi Levy sold 32,500 shares of the stock in a transaction on Wednesday, June 3rd. The stock was 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 in the company, 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 is accessible through this hyperlink. Insiders sold 112,270 shares of company stock worth $1,270,923 over the last 90 days. Corporate insiders own 39.50% of the company’s stock.

Hedge Funds Weigh In On Alpha Tau Medical

Hedge funds have recently modified their holdings of the stock. Mariner LLC increased its holdings in Alpha Tau Medical by 1.6% in the 4th quarter. Mariner LLC now owns 125,165 shares of the company’s stock worth $620,000 after buying an additional 1,915 shares during the period. Trifecta Capital Advisors LLC acquired a new position in Alpha Tau Medical in the fourth quarter valued at approximately $48,000. Everhart Financial Group Inc. purchased a new stake in Alpha Tau Medical in the 2nd quarter worth approximately $126,000. Envestnet Asset Management Inc. acquired a new stake in shares of Alpha Tau Medical during the 3rd quarter worth approximately $62,000. Finally, Wells Fargo & Company MN grew its stake in shares of Alpha Tau Medical by 291.7% during the 4th quarter. Wells Fargo & Company MN now owns 23,500 shares of the company’s stock worth $116,000 after purchasing an additional 17,500 shares during the period. Institutional investors and hedge funds 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.