Alpha Tau Medical (NASDAQ:DRTS) Sets New 12-Month High – Here’s What Happened

Alpha Tau Medical Ltd. (NASDAQ:DRTS) hit a new 52-week high on Tuesday . The company traded as high as $11.68 and last traded at $11.75, with a volume of 169623 shares changing hands. The stock had previously closed at $11.22.

Analyst Upgrades and Downgrades

DRTS has been the subject of a number of recent research reports. LADENBURG THALM/SH SH boosted their target price on Alpha Tau Medical from $12.00 to $14.00 and gave the stock a “buy” rating in a research 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 company an “overweight” rating in a research report on Thursday, June 4th. Piper Sandler boosted their price objective on shares of Alpha Tau Medical from $5.00 to $8.00 and gave the stock a “neutral” rating in a report on Tuesday, May 19th. Weiss Ratings restated a “sell (d-)” rating on shares of Alpha Tau Medical in a report on Monday, April 20th. Finally, Citigroup upped their price objective on shares of Alpha Tau Medical from $7.00 to $9.00 and gave the company a “buy” rating in a research note on Wednesday, March 11th. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $12.60.

Alpha Tau Medical Trading Up 0.5%

The company has a quick ratio of 7.79, a current ratio of 7.79 and a debt-to-equity ratio of 0.09. The stock’s fifty day moving average price is $9.64 and its two-hundred day moving average price is $7.79. The company has a market capitalization of $1.14 billion, a PE ratio of -18.87 and a beta of 1.16.

Alpha Tau Medical (NASDAQ:DRTS) last announced 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). Sell-side analysts anticipate that Alpha Tau Medical Ltd. will post -0.67 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Raphi Levy sold 20,000 shares of Alpha Tau Medical stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $12.00, for a total value of $240,000.00. Following the sale, the chief financial officer owned 90,180 shares in the company, valued at $1,082,160. The trade was a 18.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 90,000 shares of company stock valued at $979,100 over the last ninety days. Company insiders own 39.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in DRTS. Envestnet Asset Management Inc. purchased a new position in shares of Alpha Tau Medical during the third quarter valued at about $62,000. Bank of America Corp DE lifted its holdings 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 buying an additional 21,677 shares during the period. Millennium Management LLC purchased a new stake in Alpha Tau Medical in the third quarter worth about $170,000. Mariner LLC boosted its position in Alpha Tau Medical by 185.8% during the 3rd quarter. Mariner LLC now owns 123,250 shares of the company’s stock valued at $556,000 after acquiring an additional 80,129 shares in the last quarter. Finally, Apella Capital LLC bought a new stake in Alpha Tau Medical during the 4th quarter valued at approximately $1,892,000. 2.65% of the stock is currently owned by 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.