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

Alpha Tau Medical Ltd. (NASDAQ:DRTS) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $15.10 and last traded at $15.0340, with a volume of 251547 shares traded. The stock had previously closed at $14.96.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on DRTS. LADENBURG THALM/SH SH increased their price target on Alpha Tau Medical from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alpha Tau Medical in a report on Friday, July 17th. Barclays increased their target price 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 target 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, HC Wainwright upped their price objective on shares of Alpha Tau Medical from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Alpha Tau Medical currently has an average rating of “Moderate Buy” and an average price target of $12.80.

Alpha Tau Medical Price Performance

The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of -14.48 and a beta of 1.17. The company has a debt-to-equity ratio of 0.15, a quick ratio of 7.79 and a current ratio of 11.09. The business has a 50 day moving average price of $12.74 and a 200-day moving average price of $9.79.

Alpha Tau Medical (NASDAQ:DRTS) last issued its quarterly earnings results on Monday, August 10th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.36). The business had revenue of $0.10 million during the quarter, compared to analysts’ expectations of $0.14 million. Research analysts predict that Alpha Tau Medical Ltd. will post -0.92 EPS for the current fiscal year.

Insider Activity

In related news, CFO Raphi Levy sold 32,500 shares of the business’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 transaction, the chief financial officer owned 147,680 shares in the company, valued at $1,599,374.40. The trade was a 18.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders have sold 132,871 shares of company stock worth $1,562,208. 39.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Alpha Tau Medical

Several institutional investors have recently made changes to their positions in DRTS. Envestnet Asset Management Inc. bought a new position in shares of Alpha Tau Medical during the 3rd quarter worth about $62,000. Bank of America Corp DE increased its position in Alpha Tau Medical by 2,779.1% in the 3rd quarter. Bank of America Corp DE now owns 22,457 shares of the company’s stock valued at $101,000 after buying an additional 21,677 shares in the last quarter. Millennium Management LLC bought a new stake in shares of Alpha Tau Medical in the third quarter valued at $170,000. Mariner LLC lifted its holdings in Alpha Tau Medical by 185.8% during the third quarter. Mariner LLC now owns 123,250 shares of the company’s stock valued at $556,000 after purchasing an additional 80,129 shares during the last quarter. Finally, Trifecta Capital Advisors LLC purchased a new stake in shares of Alpha Tau Medical in the 4th quarter valued at $48,000. Institutional investors and hedge funds 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.