Alpha Tau Medical (NASDAQ:DRTS) Rating Lowered to Strong Sell at Zacks Research

Alpha Tau Medical (NASDAQ:DRTS) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Wednesday,Zacks.com reports.

A number of other equities analysts have also recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alpha Tau Medical in a research note on Monday, April 20th. Barclays raised their price objective on shares of Alpha Tau Medical from $15.00 to $17.00 and gave the company an “overweight” rating in a research note on Thursday, June 4th. LADENBURG THALM/SH SH boosted their price objective on shares of Alpha Tau Medical from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Citigroup upped their target price on shares of Alpha Tau Medical from $7.00 to $9.00 and gave the stock a “buy” rating in a research report on Wednesday, March 11th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $15.00 target price on shares of Alpha Tau Medical in a report on Tuesday, June 2nd. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $12.60.

Alpha Tau Medical Stock Up 4.7%

Alpha Tau Medical stock opened at $13.23 on Wednesday. The stock’s 50 day moving average price is $9.75 and its 200 day moving average price is $7.85. Alpha Tau Medical has a 1-year low of $2.87 and a 1-year high of $13.23. The company has a market cap of $1.20 billion, a PE ratio of -19.75 and a beta of 1.17. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.79 and a quick ratio of 7.79.

Alpha Tau Medical (NASDAQ:DRTS) last released its quarterly earnings data on Monday, May 18th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.13). On average, sell-side analysts predict that Alpha Tau Medical will post -0.67 EPS for the current fiscal year.

Insider Buying and Selling

In other Alpha Tau Medical news, CFO Raphi Levy sold 2,127 shares of the company’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $13.02, for a total value of $27,693.54. Following the sale, the chief financial officer owned 90,180 shares of the company’s stock, valued at approximately $1,174,143.60. This represents a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 92,127 shares of company stock worth $1,006,794 in the last quarter. 39.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DRTS. Mariner LLC increased its holdings in Alpha Tau Medical by 1.6% during the 4th quarter. Mariner LLC now owns 125,165 shares of the company’s stock valued at $620,000 after acquiring an additional 1,915 shares in the last quarter. Trifecta Capital Advisors LLC acquired a new position in Alpha Tau Medical during the fourth quarter worth about $48,000. Envestnet Asset Management Inc. purchased a new stake in shares of Alpha Tau Medical in the third quarter valued at about $62,000. 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 purchasing an additional 17,500 shares in the last quarter. Finally, Principal Financial Group Inc. acquired a new stake in shares of Alpha Tau Medical in the first quarter valued at approximately $132,000. Hedge funds and other 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.