Alpha Tau Medical (NASDAQ:DRTS) Stock Lifted to “Hold” by Zacks Research

Alpha Tau Medical (NASDAQ:DRTS) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Monday, Zacks reports.

A number of other research firms have also recently commented on DRTS. HC Wainwright restated a “buy” rating and issued a $16.00 price objective on shares of Alpha Tau Medical in a research report on Tuesday, October 20th. Barclays lifted their target price on Alpha Tau Medical from $17.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, September 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Alpha Tau Medical in a report on Thursday, October 15th. Finally, Benchmark reaffirmed a “buy” rating on shares of Alpha Tau Medical in a research report on Thursday, July 23rd. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Alpha Tau Medical currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.40.

Alpha Tau Medical Stock Performance

DRTS stock opened at $13.70 on Monday. The company has a 50 day moving average price of $14.11 and a 200 day moving average price of $10.82. Alpha Tau Medical has a fifty-two week low of $3.43 and a fifty-two week high of $15.79. The company has a debt-to-equity ratio of 0.15, a current ratio of 11.09 and a quick ratio of 7.79. The stock has a market capitalization of $1.24 billion, a PE ratio of -13.17 and a beta of 1.28.

Alpha Tau Medical (NASDAQ:DRTS) last issued its 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). Analysts forecast that Alpha Tau Medical will post -1.05 EPS for the current year.

Insider Activity

In other news, CFO Raphi Levy sold 2,871 shares of the company’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $15.00, for a total transaction of $43,065.00. Following the completion of the transaction, the chief financial officer directly owned 90,180 shares of the company’s stock, valued at $1,352,700. This represents a 3.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 39.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alpha Tau Medical

Several institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC acquired a new position in Alpha Tau Medical during the 1st quarter worth approximately $286,000. Principal Financial Group Inc. acquired a new stake in shares of Alpha Tau Medical in the first quarter valued at approximately $132,000. Finally, Everhart Financial Group Inc. bought a new stake in shares of Alpha Tau Medical in the second quarter worth $126,000. Institutional investors own 2.65% of the company’s stock.

About Alpha Tau Medical

Alpha Tau Medical Ltd. is an Israel-based medical technology company developing Alpha DaRT, an investigational radiation treatment for solid tumors. The company was founded in 2016 and is headquartered in Jerusalem. Alpha DaRT uses tiny sources containing radium-224 that are placed directly inside a tumor. As the material decays, it releases alpha-emitting atoms that travel a short distance through the tumor, aiming to destroy cancer cells while limiting exposure to nearby healthy tissue. The company is conducting clinical development of Alpha DaRT for multiple types of solid tumors, with research and clinical trials in Israel and other countries, including the United States and Japan.