Alpha Tau Medical Ltd. (NASDAQ:DRTS) Receives Average Rating of “Moderate Buy” from Brokerages

Alpha Tau Medical Ltd. (NASDAQ:DRTS) has been given a consensus rating of “Moderate Buy” by the eight analysts that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $12.80.

DRTS has been the subject of several recent analyst reports. Zacks Research raised Alpha Tau Medical from a “strong sell” rating to a “hold” rating in a report on Monday, August 3rd. LADENBURG THALM/SH SH raised their target price on shares of Alpha Tau Medical from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alpha Tau Medical in a research report on Friday, July 17th. Barclays boosted their price target on shares of Alpha Tau Medical from $15.00 to $17.00 and gave the stock an “overweight” rating in a research note on Thursday, June 4th. Finally, HC Wainwright increased their price target on shares of Alpha Tau Medical from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th.

Alpha Tau Medical Price Performance

Alpha Tau Medical stock opened at $14.70 on Wednesday. Alpha Tau Medical has a 52 week low of $3.18 and a 52 week high of $15.02. The business has a 50-day simple moving average of $12.64 and a 200 day simple moving average of $9.73. The company has a quick ratio of 7.79, a current ratio of 11.09 and a debt-to-equity ratio of 0.15. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of -14.13 and a beta of 1.17.

Alpha Tau Medical (NASDAQ:DRTS) last announced its earnings results on Monday, August 10th. The company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.36). The business had revenue of $0.10 million during the quarter, compared to analyst estimates of $0.14 million. On average, research analysts forecast that Alpha Tau Medical will post -0.92 earnings per share for the current fiscal year.

Insider Transactions at Alpha Tau Medical

In related news, CFO Raphi Levy sold 32,500 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $10.83, for a total value of $351,975.00. Following the completion of the transaction, the chief financial officer directly owned 147,680 shares in the company, valued at approximately $1,599,374.40. The trade was a 18.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 132,871 shares of company stock valued at $1,562,208 in the last ninety days. 39.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alpha Tau Medical

Several hedge funds have recently added to or reduced their stakes in DRTS. Mariner LLC boosted its holdings in shares of 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 purchasing an additional 80,129 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Alpha Tau Medical by 185.7% during the 4th quarter. Millennium Management LLC now owns 107,815 shares of the company’s stock valued at $534,000 after buying an additional 70,081 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Alpha Tau Medical during the 1st quarter valued at about $286,000. Bank of America Corp DE lifted its position in Alpha Tau Medical by 2,779.1% in the 3rd quarter. Bank of America Corp DE now owns 22,457 shares of the company’s stock worth $101,000 after buying an additional 21,677 shares during the last quarter. Finally, Principal Financial Group Inc. bought a new stake in Alpha Tau Medical in the 1st quarter worth approximately $132,000. Institutional investors 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.