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

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

A number of other analysts have also recently commented on DRTS. 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 report on Wednesday, December 10th. Wall Street Zen raised shares of Alpha Tau Medical to a “sell” rating in a research report on Saturday, November 1st. HC Wainwright reiterated a “buy” rating on shares of Alpha Tau Medical in a research note on Wednesday, December 10th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Alpha Tau Medical in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $8.00.

Alpha Tau Medical Stock Down 9.3%

DRTS opened at $6.46 on Monday. The stock has a market capitalization of $547.94 million, a price-to-earnings ratio of -12.42 and a beta of 1.04. The firm has a 50 day moving average price of $4.94 and a 200-day moving average price of $4.08. Alpha Tau Medical has a twelve month low of $2.30 and a twelve month high of $7.89.

Alpha Tau Medical (NASDAQ:DRTS) last issued its earnings results on Thursday, November 20th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.02). As a group, analysts expect that Alpha Tau Medical will post -0.45 earnings per share for the current year.

Institutional Investors Weigh In On Alpha Tau Medical

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Levin Capital Strategies L.P. boosted its position in shares of Alpha Tau Medical by 6.3% in the third quarter. Levin Capital Strategies L.P. now owns 204,714 shares of the company’s stock worth $923,000 after purchasing an additional 12,200 shares during the period. Mariner LLC increased its stake in Alpha Tau Medical by 185.8% in the 3rd quarter. Mariner LLC now owns 123,250 shares of the company’s stock worth $556,000 after buying an additional 80,129 shares in the last quarter. Millennium Management LLC bought a new stake in Alpha Tau Medical during the third quarter valued at about $170,000. Bank of America Corp DE raised its holdings 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 acquiring an additional 21,677 shares during the period. Finally, Envestnet Asset Management Inc. purchased a new position in shares of Alpha Tau Medical in the third quarter valued at about $62,000. Institutional investors own 2.65% of the company’s stock.

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.