Alpha Tau Medical (NASDAQ:DRTS) Price Target Raised to $16.00

Alpha Tau Medical (NASDAQ:DRTS) had its price target upped by investment analysts at HC Wainwright from $15.00 to $16.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price objective indicates a potential upside of 18.43% from the company’s previous close.

DRTS has been the subject of several other reports. Benchmark restated a “buy” rating on shares of Alpha Tau Medical in a report on Thursday, July 23rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alpha Tau Medical in a report on Friday, July 17th. Piper Sandler boosted their price target on shares of Alpha Tau Medical from $5.00 to $8.00 and gave the company a “neutral” rating in a report on Tuesday, May 19th. Zacks Research raised shares of Alpha Tau Medical from a “strong sell” rating to a “hold” rating in a research report on Monday, August 3rd. Finally, LADENBURG THALM/SH SH increased their price objective on shares of Alpha Tau Medical from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Five 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 data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $12.80.

Alpha Tau Medical Trading Down 0.7%

NASDAQ:DRTS traded down $0.09 during midday trading on Tuesday, hitting $13.51. The stock had a trading volume of 233,430 shares, compared to its average volume of 589,146. Alpha Tau Medical has a one year low of $3.00 and a one year high of $14.11. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of -20.03 and a beta of 1.17. The stock has a 50-day moving average of $11.57 and a 200 day moving average of $9.17. The company has a quick ratio of 7.79, a current ratio of 7.79 and a debt-to-equity ratio of 0.09.

Alpha Tau Medical (NASDAQ:DRTS) last issued its earnings results on Monday, August 10th. The company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.36). As a group, sell-side analysts forecast that Alpha Tau Medical will post -0.67 EPS for the current year.

Insider Activity at Alpha Tau Medical

In related news, CFO Raphi Levy sold 2,270 shares of Alpha Tau Medical stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $14.00, for a total value of $31,780.00. Following the sale, the chief financial officer directly owned 90,180 shares in the company, valued at approximately $1,262,520. The trade was a 2.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 112,270 shares of company stock worth $1,270,923 over the last three months. 39.50% of the stock is owned by insiders.

Institutional Trading of Alpha Tau Medical

Several large investors have recently bought and sold shares of DRTS. Mariner LLC raised 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 valued at $620,000 after acquiring an additional 1,915 shares during the last quarter. Trifecta Capital Advisors LLC acquired a new position in shares of Alpha Tau Medical during the 4th quarter worth approximately $48,000. Everhart Financial Group Inc. purchased a new stake in shares of Alpha Tau Medical in the second quarter valued at approximately $126,000. Envestnet Asset Management Inc. purchased a new stake in shares of Alpha Tau Medical in the third quarter valued at approximately $62,000. Finally, Wells Fargo & Company MN increased its holdings in shares of Alpha Tau Medical by 291.7% in the fourth quarter. Wells Fargo & Company MN now owns 23,500 shares of the company’s stock valued at $116,000 after purchasing an additional 17,500 shares during the last quarter. Hedge funds and other 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.