Alpha Tau Medical (NASDAQ:DRTS) Shares Up 8% – Here’s Why

Shares of Alpha Tau Medical Ltd. (NASDAQ:DRTS) shot up 8% on Thursday . The company traded as high as $10.75 and last traded at $10.8490. Approximately 122,284 shares were traded during trading, a decline of 78% from the average session volume of 550,315 shares. The stock had previously closed at $10.05.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. HC Wainwright reiterated a “buy” rating and set a $15.00 price target on shares of Alpha Tau Medical in a research report on Tuesday, June 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alpha Tau Medical in a report on Monday, April 20th. Barclays raised their price target on shares of Alpha Tau Medical from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Thursday, June 4th. Piper Sandler boosted their price target on shares of Alpha Tau Medical from $5.00 to $8.00 and gave the company a “neutral” rating in a research report on Tuesday, May 19th. Finally, LADENBURG THALM/SH SH increased their price objective 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. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Alpha Tau Medical presently has an average rating of “Hold” and an average target price of $12.60.

Alpha Tau Medical Price Performance

The firm has a market capitalization of $982.79 million, a PE ratio of -16.24 and a beta of 1.19. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.79 and a quick ratio of 7.79. The business’s 50 day moving average is $9.39 and its two-hundred day moving average is $7.61.

Alpha Tau Medical (NASDAQ:DRTS) last released its quarterly earnings results on Monday, May 18th. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.13). As a group, research analysts anticipate that Alpha Tau Medical Ltd. will post -0.67 EPS for the current year.

Insider Activity

In related news, CFO Raphi Levy sold 20,000 shares of the company’s stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $11.00, for a total value of $220,000.00. Following the completion of the transaction, the chief financial officer directly owned 110,180 shares in the company, valued at approximately $1,211,980. The trade was a 15.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 70,000 shares of company stock worth $739,100. Insiders own 39.50% of the company’s stock.

Institutional Investors Weigh In On Alpha Tau Medical

A number of large investors have recently added to or reduced their stakes in the company. Daytona Street Capital LLC purchased a new position in shares of Alpha Tau Medical in the 4th quarter worth about $749,000. Apella Capital LLC purchased a new position in shares of Alpha Tau Medical during the 4th quarter valued at about $1,892,000. Mariner LLC raised its holdings in shares of Alpha Tau Medical by 1.6% during the 4th quarter. Mariner LLC now owns 125,165 shares of the company’s stock valued at $620,000 after buying an additional 1,915 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Alpha Tau Medical by 185.7% during the 4th quarter. Millennium Management LLC now owns 107,815 shares of the company’s stock valued at $534,000 after buying an additional 70,081 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in Alpha Tau Medical by 291.7% in the 4th quarter. Wells Fargo & Company MN now owns 23,500 shares of the company’s stock worth $116,000 after buying an additional 17,500 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.