Alpha Tau Medical’s (DRTS) “Buy” Rating Reaffirmed at HC Wainwright

Alpha Tau Medical (NASDAQ:DRTS)‘s stock had its “buy” rating reissued by investment analysts at HC Wainwright in a report released on Wednesday,Benzinga reports. They presently have a $15.00 target price on the stock. HC Wainwright’s price target would indicate a potential upside of 14.29% from the company’s previous close.

DRTS has been the topic of several other reports. Piper Sandler upped their target price on shares of Alpha Tau Medical from $5.00 to $8.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 19th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alpha Tau Medical in a research report on Friday. LADENBURG THALM/SH SH boosted their price target on Alpha Tau Medical from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Barclays lifted their price objective on Alpha Tau Medical from $15.00 to $17.00 and gave the stock an “overweight” rating in a report on Thursday, June 4th. Finally, Zacks Research downgraded Alpha Tau Medical from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 1st. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Alpha Tau Medical has a consensus rating of “Hold” and an average price target of $12.60.

Alpha Tau Medical Price Performance

Alpha Tau Medical stock traded down $0.20 during midday trading on Wednesday, reaching $13.12. The company’s stock had a trading volume of 227,416 shares, compared to its average volume of 598,143. The firm has a market capitalization of $1.19 billion, a PE ratio of -19.66 and a beta of 1.17. Alpha Tau Medical has a fifty-two week low of $2.87 and a fifty-two week high of $14.11. The stock’s 50 day simple moving average is $10.96 and its 200 day simple moving average is $8.57. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.79 and a current ratio of 7.79.

Alpha Tau Medical (NASDAQ:DRTS) last posted its quarterly earnings results on Monday, May 18th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.13). On average, equities research analysts forecast that Alpha Tau Medical will post -0.67 earnings per share for the current year.

Insider Transactions at Alpha Tau Medical

In other Alpha Tau Medical news, CFO Raphi Levy sold 2,270 shares of the stock in a transaction on Monday, July 6th. The stock was sold at an average price of $14.00, for a total transaction of $31,780.00. Following the sale, the chief financial officer owned 90,180 shares in the company, valued at approximately $1,262,520. This represents a 2.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 112,270 shares of company stock valued at $1,270,923. 39.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Alpha Tau Medical

Several institutional investors and hedge funds have recently made changes to their positions in DRTS. Everhart Financial Group Inc. acquired a new stake in shares of Alpha Tau Medical during the second quarter valued at $126,000. Renaissance Technologies LLC acquired a new position in Alpha Tau Medical in the 1st quarter valued at about $286,000. Principal Financial Group Inc. purchased a new position in Alpha Tau Medical in the 1st quarter valued at about $132,000. Millennium Management LLC lifted its holdings in Alpha Tau Medical by 185.7% in the 4th 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. Finally, Mariner LLC boosted its stake 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 worth $620,000 after purchasing an additional 1,915 shares during the last quarter. 2.65% of the stock is currently owned by hedge funds and other institutional investors.

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.