Zacks Research Downgrades Alpha Tau Medical (NASDAQ:DRTS) to Strong Sell

Alpha Tau Medical (NASDAQ:DRTS) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Wednesday,Zacks.com reports.

Several other research firms have also recently weighed in on DRTS. Weiss Ratings reissued a “sell (d-)” rating on shares of Alpha Tau Medical in a research note on Monday, April 20th. LADENBURG THALM/SH SH lifted their price target on shares of Alpha Tau Medical from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. HC Wainwright reiterated a “buy” rating and issued a $15.00 price objective on shares of Alpha Tau Medical in a report on Tuesday, June 2nd. Citigroup increased their price objective on Alpha Tau Medical from $7.00 to $9.00 and gave the stock a “buy” rating in a research report on Wednesday, March 11th. Finally, Barclays raised their target price on Alpha Tau Medical from $15.00 to $17.00 and gave the stock an “overweight” rating in a research note on Thursday, June 4th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Alpha Tau Medical currently has an average rating of “Hold” and an average price target of $12.60.

Alpha Tau Medical Stock Up 4.7%

NASDAQ DRTS opened at $13.23 on Wednesday. The business’s fifty day simple moving average is $9.75 and its 200-day simple moving average is $7.85. The company has a quick ratio of 7.79, a current ratio of 7.79 and a debt-to-equity ratio of 0.09. The firm has a market cap of $1.20 billion, a PE ratio of -19.75 and a beta of 1.17. Alpha Tau Medical has a 52 week low of $2.87 and a 52 week high of $13.23.

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

Insider Activity

In other news, CFO Raphi Levy sold 2,127 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $13.02, for a total value of $27,693.54. Following the sale, the chief financial officer directly owned 90,180 shares of the company’s stock, valued at approximately $1,174,143.60. The trade was a 2.30% decrease in their position. The transaction was disclosed in a legal 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. Over the last quarter, insiders have sold 92,127 shares of company stock valued at $1,006,794. 39.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alpha Tau Medical

A number of hedge funds have recently made changes to their positions in the stock. Trifecta Capital Advisors LLC acquired a new stake in Alpha Tau Medical in the 4th quarter valued at approximately $48,000. Envestnet Asset Management Inc. acquired a new position in Alpha Tau Medical during the third quarter worth $62,000. Bank of America Corp DE lifted its stake 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 worth $101,000 after purchasing an additional 21,677 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Alpha Tau Medical by 291.7% during the fourth 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 period. Finally, Principal Financial Group Inc. purchased a new position in shares of Alpha Tau Medical during the first quarter worth $132,000. 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.