Alpha Tau Medical (NASDAQ:DRTS) Stock Price Down 6.6% – What’s Next?

Alpha Tau Medical Ltd. (NASDAQ:DRTS) shares fell 6.6% during mid-day trading on Tuesday . The stock traded as low as $7.18 and last traded at $7.1980. 216,919 shares were traded during mid-day trading, a decline of 52% from the average session volume of 454,442 shares. The stock had previously closed at $7.71.

Analyst Upgrades and Downgrades

DRTS has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alpha Tau Medical in a research note on Wednesday, January 21st. Citigroup dropped their target price on shares of Alpha Tau Medical from $8.00 to $7.00 and set a “buy” rating for the company in a report on Wednesday, December 10th. HC Wainwright restated a “buy” rating on shares of Alpha Tau Medical in a research note on Wednesday, December 10th. Wall Street Zen raised Alpha Tau Medical to a “sell” rating in a research note on Saturday, November 1st. Finally, Zacks Research downgraded Alpha Tau Medical from a “hold” rating to a “strong sell” rating in a report on Monday, January 19th. Two analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Alpha Tau Medical presently has an average rating of “Hold” and a consensus price target of $8.00.

Alpha Tau Medical Stock Performance

The stock has a market capitalization of $620.54 million, a price-to-earnings ratio of -14.11 and a beta of 1.04. The company has a 50 day moving average of $5.89 and a 200 day moving average of $4.49.

Alpha Tau Medical (NASDAQ:DRTS) last issued its earnings results on Thursday, November 20th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.02). As a group, research analysts expect that Alpha Tau Medical Ltd. will post -0.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Alpha Tau Medical

Large investors have recently bought and sold shares of the business. Trifecta Capital Advisors LLC acquired a new stake in shares of Alpha Tau Medical during the 4th quarter worth about $48,000. Envestnet Asset Management Inc. acquired a new stake in Alpha Tau Medical during the 3rd quarter worth $62,000. Bank of America Corp DE lifted its position in Alpha Tau Medical by 2,779.1% in the third 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 during the last quarter. Millennium Management LLC acquired a new stake in shares of Alpha Tau Medical during the third quarter worth about $170,000. Finally, Mariner LLC lifted its holdings in shares of Alpha Tau Medical by 185.8% in the 3rd 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. Hedge funds and other institutional investors own 2.65% of the company’s stock.

About Alpha Tau Medical

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.