HC Wainwright Reaffirms Buy Rating for Alpha Tau Medical (NASDAQ:DRTS)

Alpha Tau Medical (NASDAQ:DRTS)‘s stock had its “buy” rating restated by equities research analysts at HC Wainwright in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $15.00 price objective on the stock. HC Wainwright’s target price would indicate a potential upside of 14.29% from the company’s current price.

Other equities analysts also recently issued reports about the company. LADENBURG THALM/SH SH increased their target price on Alpha Tau Medical from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Alpha Tau Medical in a report on Friday. Barclays upped 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. Zacks Research lowered shares of Alpha Tau Medical from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 1st. Finally, Piper Sandler raised their target price on shares of Alpha Tau Medical from $5.00 to $8.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 19th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $12.60.

Alpha Tau Medical Trading Down 1.5%

DRTS traded down $0.20 during trading on Wednesday, hitting $13.12. The company’s stock had a trading volume of 227,416 shares, compared to its average volume of 598,143. Alpha Tau Medical has a twelve month low of $2.87 and a twelve month high of $14.11. The stock has a market cap of $1.19 billion, a PE ratio of -19.66 and a beta of 1.17. The firm’s 50 day moving average price is $10.96 and its 200-day moving average price is $8.57. 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 posted 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, analysts expect that Alpha Tau Medical will post -0.67 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Raphi Levy sold 32,500 shares of the business’s stock in a transaction 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 directly owned 147,680 shares of the company’s stock, valued at approximately $1,599,374.40. The trade was a 18.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders sold 112,270 shares of company stock worth $1,270,923. Insiders own 39.50% of the company’s stock.

Hedge Funds Weigh In On Alpha Tau Medical

Institutional investors and hedge funds have recently made changes to their positions in the business. Apella Capital LLC acquired a new position in shares of Alpha Tau Medical in the 4th quarter worth approximately $1,892,000. Daytona Street Capital LLC acquired a new stake in shares of Alpha Tau Medical during the 4th quarter valued at approximately $749,000. Mariner LLC lifted its stake in Alpha Tau Medical by 1.6% during the fourth quarter. Mariner LLC now owns 125,165 shares of the company’s stock worth $620,000 after purchasing an additional 1,915 shares during the last quarter. Millennium Management LLC lifted its stake in Alpha Tau Medical by 185.7% during the fourth quarter. Millennium Management LLC now owns 107,815 shares of the company’s stock worth $534,000 after purchasing an additional 70,081 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in Alpha Tau Medical in the first quarter worth $286,000. 2.65% of the stock is currently 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.