Zacks Research Upgrades Alpha Tau Medical (NASDAQ:DRTS) to Hold

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

A number of other equities analysts have also recently issued reports on the stock. HC Wainwright reissued a “buy” rating and issued a $15.00 target price on shares of Alpha Tau Medical in a report on Wednesday, July 22nd. Barclays upped their target price on Alpha Tau Medical from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Thursday, June 4th. Benchmark reissued a “buy” rating on shares of Alpha Tau Medical in a report on Thursday, July 23rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Alpha Tau Medical in a report on Friday, July 17th. Finally, Piper Sandler boosted their price objective on Alpha Tau Medical from $5.00 to $8.00 and gave the company a “neutral” rating in a research report on Tuesday, May 19th. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $12.60.

Alpha Tau Medical Trading Up 9.7%

Alpha Tau Medical stock opened at $13.08 on Monday. The firm’s 50-day moving average is $11.33 and its 200-day moving average is $9.00. 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 has a 1 year low of $2.98 and a 1 year high of $14.11. The company has a market cap of $1.18 billion, a P/E ratio of -19.52 and a beta of 1.17.

Alpha Tau Medical (NASDAQ:DRTS) last announced its quarterly earnings data 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 analysts expect that Alpha Tau Medical will post -0.67 earnings per share for the current year.

Insider Activity

In related news, CFO Raphi Levy sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $10.83, for a total transaction of $351,975.00. Following the transaction, the chief financial officer owned 147,680 shares in the company, valued at $1,599,374.40. This trade represents a 18.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 112,270 shares of company stock valued at $1,270,923 in the last ninety days. Company insiders own 39.50% of the company’s stock.

Institutional Investors Weigh In On Alpha Tau Medical

A number of institutional investors have recently added to or reduced their stakes in DRTS. Apella Capital LLC bought a new position in Alpha Tau Medical during the 4th quarter valued at $1,892,000. Mariner LLC raised its stake in shares of Alpha Tau Medical by 1.6% in the 4th quarter. Mariner LLC now owns 125,165 shares of the company’s stock worth $620,000 after buying an additional 1,915 shares in the last quarter. Millennium Management LLC raised its stake in shares of Alpha Tau Medical by 185.7% in the 4th quarter. Millennium Management LLC now owns 107,815 shares of the company’s stock worth $534,000 after buying an additional 70,081 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Alpha Tau Medical in the first quarter valued at $286,000. Finally, Wells Fargo & Company MN lifted its holdings in shares of 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 buying an additional 17,500 shares during the period. 2.65% of the stock is currently owned by institutional investors and hedge funds.

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.