Alpha Tau Medical (NASDAQ:DRTS) Sets New 1-Year High – What’s Next?

Alpha Tau Medical Ltd. (NASDAQ:DRTS)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $8.00 and last traded at $7.9690, with a volume of 208339 shares changing hands. The stock had previously closed at $7.39.

Analyst Ratings Changes

DRTS has been the subject of several recent analyst reports. HC Wainwright reissued a “buy” rating on shares of Alpha Tau Medical in a report on Wednesday, December 10th. Wall Street Zen upgraded Alpha Tau Medical to a “sell” rating in a research note on Saturday, November 1st. Zacks Research upgraded Alpha Tau Medical from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 17th. Citigroup dropped their price target on Alpha Tau Medical from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, December 10th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alpha Tau Medical in a report on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Alpha Tau Medical presently has a consensus rating of “Hold” and an average target price of $8.00.

Alpha Tau Medical Stock Performance

The stock has a market capitalization of $712.91 million, a P/E ratio of -16.16 and a beta of 1.05. The stock has a 50 day moving average of $6.52 and a 200 day moving average of $4.81.

Institutional Investors Weigh In On Alpha Tau Medical

Several large investors have recently made changes to their positions in DRTS. Envestnet Asset Management Inc. acquired a new position in shares of Alpha Tau Medical during the third quarter worth approximately $62,000. Levin Capital Strategies L.P. raised its stake in Alpha Tau Medical by 6.3% during the 3rd quarter. Levin Capital Strategies L.P. now owns 204,714 shares of the company’s stock valued at $923,000 after acquiring an additional 12,200 shares in the last quarter. Bank of America Corp DE raised its stake in Alpha Tau Medical by 2,779.1% during the 3rd 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 in the last quarter. Millennium Management LLC acquired a new position in Alpha Tau Medical during the 3rd quarter worth $170,000. Finally, Mariner LLC grew its stake in shares of Alpha Tau Medical by 185.8% in the third quarter. Mariner LLC now owns 123,250 shares of the company’s stock worth $556,000 after purchasing an additional 80,129 shares in the last quarter. Institutional investors and hedge funds 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.