Alpha Tau Medical (NASDAQ:DRTS) Reaches New 52-Week High – Here’s Why

Alpha Tau Medical Ltd. (NASDAQ:DRTS) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $8.00 and last traded at $7.9690, with a volume of 208339 shares trading hands. The stock had previously closed at $7.39.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Alpha Tau Medical in a report on Wednesday, January 21st. Zacks Research raised Alpha Tau Medical from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 17th. Citigroup cut their target price on shares of Alpha Tau Medical from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, December 10th. Wall Street Zen upgraded shares of Alpha Tau Medical to a “sell” rating in a research note on Saturday, November 1st. Finally, HC Wainwright restated a “buy” rating on shares of Alpha Tau Medical in a research note on Wednesday, December 10th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Alpha Tau Medical has an average rating of “Hold” and a consensus price target of $8.00.

Alpha Tau Medical Price Performance

The stock’s 50-day moving average is $6.65 and its 200 day moving average is $4.86. The stock has a market cap of $657.27 million, a price-to-earnings ratio of -14.88 and a beta of 1.05.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Millennium Management LLC lifted its holdings in Alpha Tau Medical by 185.7% in the fourth quarter. Millennium Management LLC now owns 107,815 shares of the company’s stock valued at $534,000 after acquiring an additional 70,081 shares during the period. Mariner LLC increased its holdings in shares of 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 purchasing an additional 1,915 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Alpha Tau Medical by 291.7% in the 4th 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 in the last quarter. Trifecta Capital Advisors LLC acquired a new stake in shares of Alpha Tau Medical in the fourth quarter valued at about $48,000. Finally, Daytona Street Capital LLC purchased a new stake in Alpha Tau Medical during the fourth quarter worth about $749,000. Institutional investors and hedge funds 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.