Alpha Tau Medical Ltd. (NASDAQ:DRTS) Receives Consensus Rating of “Hold” from Brokerages

Alpha Tau Medical Ltd. (NASDAQ:DRTS) has been given a consensus recommendation of “Hold” by the five analysts that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $7.00.

DRTS has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Alpha Tau Medical in a report on Wednesday, January 21st. HC Wainwright reiterated a “buy” rating on shares of Alpha Tau Medical in a report on Wednesday, December 10th. Piper Sandler restated a “neutral” rating and set a $5.00 price target on shares of Alpha Tau Medical in a report on Wednesday. Zacks Research raised Alpha Tau Medical from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 17th. Finally, Citigroup cut their price objective 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.

Alpha Tau Medical Stock Performance

Shares of Alpha Tau Medical stock opened at $6.57 on Wednesday. Alpha Tau Medical has a 52-week low of $2.30 and a 52-week high of $8.60. The company’s 50 day moving average price is $6.80 and its 200-day moving average price is $4.97. The stock has a market capitalization of $557.44 million, a price-to-earnings ratio of -12.25 and a beta of 1.02.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in DRTS. Trifecta Capital Advisors LLC purchased a new position in Alpha Tau Medical during the fourth quarter valued at $48,000. Envestnet Asset Management Inc. purchased a new stake in shares of Alpha Tau Medical in the third quarter worth $62,000. Bank of America Corp DE increased its holdings in shares of 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 in the last quarter. Wells Fargo & Company MN raised its position in shares of Alpha Tau Medical by 291.7% in the 4th quarter. Wells Fargo & Company MN now owns 23,500 shares of the company’s stock worth $116,000 after purchasing an additional 17,500 shares during the last quarter. Finally, Millennium Management LLC bought a new position in Alpha Tau Medical in the 3rd quarter worth about $170,000. 2.65% of the stock is 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.