Alpha Tau Medical Ltd. (NASDAQ:DRTS) Receives Average Rating of “Moderate Buy” from Brokerages

Alpha Tau Medical Ltd. (NASDAQ:DRTS) has received a consensus recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $12.80.

Several analysts have recently issued reports on the stock. Benchmark reissued a “buy” rating on shares of Alpha Tau Medical in a research report on Thursday, July 23rd. HC Wainwright raised their price objective on shares of Alpha Tau Medical from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alpha Tau Medical in a research note on Friday, July 17th. Zacks Research raised shares of Alpha Tau Medical from a “strong sell” rating to a “hold” rating in a report on Monday, August 3rd. Finally, LADENBURG THALM/SH SH increased their target price on Alpha Tau Medical from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th.

Insider Transactions at Alpha Tau Medical

In other Alpha Tau Medical news, CFO Raphi Levy sold 2,871 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $15.00, for a total value of $43,065.00. Following the completion of the transaction, the chief financial officer owned 90,180 shares in the company, valued at $1,352,700. This trade represents a 3.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 132,871 shares of company stock worth $1,562,208. Corporate insiders own 39.50% of the company’s stock.

Institutional Investors Weigh In On Alpha Tau Medical

A number of institutional investors and hedge funds have recently modified their holdings of the company. Envestnet Asset Management Inc. bought a new position in shares of Alpha Tau Medical in the third quarter valued at approximately $62,000. Bank of America Corp DE increased its holdings in Alpha Tau Medical by 2,779.1% during the 3rd quarter. Bank of America Corp DE now owns 22,457 shares of the company’s stock worth $101,000 after acquiring an additional 21,677 shares during the period. Millennium Management LLC bought a new stake in Alpha Tau Medical during the 3rd quarter worth approximately $170,000. Mariner LLC lifted its stake in Alpha Tau Medical by 185.8% in the 3rd quarter. Mariner LLC now owns 123,250 shares of the company’s stock worth $556,000 after purchasing an additional 80,129 shares in the last quarter. Finally, Trifecta Capital Advisors LLC purchased a new stake in Alpha Tau Medical in the 4th quarter worth approximately $48,000. 2.65% of the stock is owned by hedge funds and other institutional investors.

Alpha Tau Medical Stock Performance

Shares of DRTS opened at $14.70 on Wednesday. Alpha Tau Medical has a fifty-two week low of $3.18 and a fifty-two week high of $15.02. The business has a 50-day moving average of $12.64 and a 200 day moving average of $9.73. The firm has a market cap of $1.33 billion, a P/E ratio of -14.13 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.

Alpha Tau Medical (NASDAQ:DRTS) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.36). The business had revenue of $0.10 million for the quarter, compared to analyst estimates of $0.14 million. As a group, research analysts forecast that Alpha Tau Medical will post -0.92 EPS for the current year.

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.