Alpha Tau Medical Ltd. (NASDAQ:DRTS) Receives Consensus Recommendation of “Hold” from Brokerages

Alpha Tau Medical Ltd. (NASDAQ:DRTS) has been given a consensus rating of “Hold” by the seven analysts that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $12.60.

DRTS has been the topic of several research analyst reports. 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. Barclays lifted their price target on shares of Alpha Tau Medical from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Thursday, June 4th. Zacks Research cut shares of Alpha Tau Medical from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 1st. LADENBURG THALM/SH SH increased 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. Finally, HC Wainwright reiterated a “buy” rating and issued a $15.00 target price on shares of Alpha Tau Medical in a report on Tuesday, June 2nd.

Insider Activity

In related news, CFO Raphi Levy sold 2,270 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $14.00, for a total value of $31,780.00. Following the transaction, the chief financial officer owned 90,180 shares in the company, valued at approximately $1,262,520. This trade represents a 2.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 112,270 shares of company stock worth $1,270,923. 39.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC bought a new stake in Alpha Tau Medical in the first quarter valued at about $286,000. Principal Financial Group Inc. bought a new stake in shares of Alpha Tau Medical in the 1st quarter valued at approximately $132,000. Millennium Management LLC boosted its holdings in Alpha Tau Medical by 185.7% in the fourth quarter. Millennium Management LLC now owns 107,815 shares of the company’s stock worth $534,000 after purchasing an additional 70,081 shares during the period. Mariner LLC grew its position 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 acquiring an additional 1,915 shares during the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of Alpha Tau Medical by 291.7% during the fourth quarter. Wells Fargo & Company MN now owns 23,500 shares of the company’s stock valued at $116,000 after buying an additional 17,500 shares during the last quarter. 2.65% of the stock is owned by institutional investors and hedge funds.

Alpha Tau Medical Trading Down 6.7%

Alpha Tau Medical stock traded down $0.90 during trading on Tuesday, hitting $12.67. The company’s stock had a trading volume of 688,089 shares, compared to its average volume of 592,043. The stock’s fifty day moving average is $9.96 and its 200 day moving average is $7.97. Alpha Tau Medical has a 1-year low of $2.87 and a 1-year high of $14.11. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of -18.88 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.

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). As a group, equities research analysts predict that Alpha Tau Medical will post -0.67 EPS for the current year.

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.