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

Alpha Tau Medical (NASDAQ:DRTS) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other analysts also recently issued reports about the company. LADENBURG THALM/SH SH upped their price objective on Alpha Tau Medical from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. HC Wainwright restated a “buy” rating and issued a $15.00 price objective on shares of Alpha Tau Medical in a report on Wednesday, July 22nd. Benchmark reiterated a “buy” rating on shares of Alpha Tau Medical in a report on Thursday, July 23rd. Piper Sandler increased their target price on shares of Alpha Tau Medical from $5.00 to $8.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 19th. Finally, Barclays raised 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. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.60.

Alpha Tau Medical Price Performance

DRTS opened at $13.08 on Monday. Alpha Tau Medical has a 1 year low of $2.98 and a 1 year high of $14.11. The company’s 50 day simple moving average is $11.33 and its 200 day simple moving average is $9.00. The stock has a market capitalization of $1.18 billion, a PE 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.

Alpha Tau Medical (NASDAQ:DRTS) last issued its quarterly earnings results on Monday, May 18th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.13). As a group, sell-side analysts expect that Alpha Tau Medical will post -0.67 EPS for the current year.

Insiders Place Their Bets

In other Alpha Tau Medical news, CFO Raphi Levy sold 32,500 shares of the firm’s stock in a transaction on 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 transaction, the chief financial officer directly owned 147,680 shares of the company’s stock, valued at $1,599,374.40. This trade represents a 18.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders have sold 112,270 shares of company stock worth $1,270,923. 39.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alpha Tau Medical

Several large investors have recently modified their holdings of DRTS. Trifecta Capital Advisors LLC acquired a new stake in Alpha Tau Medical during the fourth quarter valued at approximately $48,000. Everhart Financial Group Inc. acquired a new position in shares of Alpha Tau Medical in the 2nd quarter worth approximately $126,000. Envestnet Asset Management Inc. bought a new stake in shares of Alpha Tau Medical in the 3rd quarter valued at approximately $62,000. Principal Financial Group Inc. bought a new stake in shares of Alpha Tau Medical in the 1st quarter valued at approximately $132,000. Finally, Bank of America Corp DE raised its position in shares of Alpha Tau Medical by 2,779.1% during the 3rd quarter. Bank of America Corp DE now owns 22,457 shares of the company’s stock valued at $101,000 after acquiring an additional 21,677 shares in the last quarter. Institutional investors own 2.65% of the company’s stock.

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.