Alpha Tau Medical Ltd. (NASDAQ:DRTS) Receives Consensus Rating of “Hold” from Brokerages

Alpha Tau Medical Ltd. (NASDAQ:DRTS) has been given an average recommendation of “Hold” by the five analysts that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $7.00.

A number of research analysts have issued reports on DRTS shares. Citigroup reduced their price objective on Alpha Tau Medical from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, December 10th. HC Wainwright reissued a “buy” rating on shares of Alpha Tau Medical in a report on Wednesday, December 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Alpha Tau Medical in a research report on Wednesday, January 21st. Zacks Research upgraded shares of Alpha Tau Medical from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 17th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $5.00 price objective on shares of Alpha Tau Medical in a research report on Wednesday.

Alpha Tau Medical Stock Down 7.0%

NASDAQ DRTS opened at $6.57 on Wednesday. Alpha Tau Medical has a 52 week low of $2.30 and a 52 week high of $8.60. The business has a 50 day moving average price of $6.80 and a 200-day moving average price of $4.97. The company has a market cap of $557.44 million, a price-to-earnings ratio of -12.25 and a beta of 1.02.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Mariner LLC grew its holdings in shares of Alpha Tau Medical by 1.6% during the fourth quarter. Mariner LLC now owns 125,165 shares of the company’s stock worth $620,000 after purchasing an additional 1,915 shares in the last quarter. Millennium Management LLC raised its stake 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 purchasing an additional 70,081 shares in the last quarter. Wells Fargo & Company MN raised its stake in Alpha Tau Medical by 291.7% in the fourth 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. Bank of America Corp DE lifted its position in Alpha Tau Medical by 2,779.1% during the third quarter. Bank of America Corp DE now owns 22,457 shares of the company’s stock valued at $101,000 after purchasing an additional 21,677 shares during the last quarter. Finally, Envestnet Asset Management Inc. purchased a new position in Alpha Tau Medical in the 3rd quarter worth approximately $62,000. 2.65% of the stock is currently owned by hedge funds and other institutional investors.

Alpha Tau Medical Company Profile

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.