Alpha Tau Medical (NASDAQ:DRTS) Given “Buy” Rating at HC Wainwright

Alpha Tau Medical (NASDAQ:DRTS)‘s stock had its “buy” rating reissued by analysts at HC Wainwright in a report released on Tuesday, Marketbeat reports. They presently have a $16.00 price objective on the stock. HC Wainwright‘s price target points to a potential upside of 24.94% from the company’s current price.

A number of other brokerages have also recently commented on DRTS. Barclays raised their price objective on Alpha Tau Medical from $17.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, September 3rd. Benchmark reiterated a “buy” rating on shares of Alpha Tau Medical in a report on Thursday, July 23rd. Zacks Research lowered Alpha Tau Medical from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 1st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Alpha Tau Medical in a research note on Thursday, October 15th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $15.40.

Alpha Tau Medical Price Performance

Shares of DRTS opened at $12.81 on Tuesday. The business has a 50-day simple moving average of $14.41 and a two-hundred day simple moving average of $11.86. Alpha Tau Medical has a 12-month low of $3.43 and a 12-month high of $15.79. The stock has a market cap of $1.16 billion, a PE ratio of -12.31 and a beta of 1.22. The company has a quick ratio of 7.79, a current ratio of 11.09 and a debt-to-equity ratio of 0.15.

Alpha Tau Medical (NASDAQ:DRTS) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.36). Analysts anticipate that Alpha Tau Medical will post -1.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Raphi Levy sold 17,730 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $14.00, for a total transaction of $248,220.00. Following the completion of the transaction, the chief financial officer directly owned 90,180 shares in the company, valued at $1,262,520. The trade was a 16.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 39.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alpha Tau Medical

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Everhart Financial Group Inc. purchased a new position in Alpha Tau Medical during the second quarter worth about $126,000. Renaissance Technologies LLC purchased a new position in shares of Alpha Tau Medical in the 1st quarter worth about $286,000. Finally, Principal Financial Group Inc. purchased a new position in shares of Alpha Tau Medical in the 1st quarter worth about $132,000. 2.65% of the stock is currently owned by hedge funds and other institutional investors.

About Alpha Tau Medical

Alpha Tau Medical Ltd. is an Israel-based medical technology company developing targeted radiation treatments for solid tumors. Its lead technology, Alpha DaRT (Diffusing Alpha-emitters Radiation Therapy), is designed to deliver highly localized alpha radiation directly within a tumor while limiting exposure to surrounding healthy tissue.

Alpha DaRT uses tiny radioactive sources, including radium-224, that are placed in or near a tumor. The sources generate short-range alpha-emitting atoms that diffuse through the tumor and damage cancer cells.