Alpha Tau Medical (NASDAQ:DRTS) Downgraded to Strong Sell Rating by 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 research report issued on Tuesday, Zacks reports.

DRTS has been the subject of several other research reports. Benchmark reaffirmed a “buy” rating on shares of Alpha Tau Medical in a research note on Thursday, July 23rd. HC Wainwright lifted their price objective on Alpha Tau Medical from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Piper Sandler increased their target price on Alpha Tau Medical from $5.00 to $8.00 and gave the company a “neutral” rating in a report on Tuesday, May 19th. LADENBURG THALM/SH SH lifted their price target on Alpha Tau Medical from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Finally, Barclays increased their price objective on Alpha Tau Medical from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Thursday, June 4th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $12.80.

Alpha Tau Medical Stock Performance

NASDAQ DRTS opened at $14.33 on Tuesday. The stock has a 50-day moving average of $13.19 and a 200 day moving average of $10.03. Alpha Tau Medical has a twelve month low of $3.35 and a twelve month high of $15.10. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of -13.78 and a beta of 1.20. The company has a current ratio of 11.09, a quick ratio of 7.79 and a debt-to-equity ratio of 0.15.

Alpha Tau Medical (NASDAQ:DRTS) last posted its quarterly earnings data on Monday, August 10th. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.36). Sell-side analysts anticipate that Alpha Tau Medical will post -0.92 EPS for the current fiscal year.

Insider Transactions at Alpha Tau Medical

In other Alpha Tau Medical news, CFO Raphi Levy sold 20,000 shares of the company’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $12.00, for a total value of $240,000.00. Following the completion of the transaction, the chief financial officer owned 90,180 shares in the company, valued at $1,082,160. This represents a 18.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 100,371 shares of company stock valued at $1,210,233 in the last three months. Corporate insiders own 39.50% of the company’s stock.

Institutional Trading of Alpha Tau Medical

Several institutional investors and hedge funds have recently made changes to their positions in DRTS. Envestnet Asset Management Inc. acquired a new stake in shares of Alpha Tau Medical in the 3rd quarter valued at about $62,000. Bank of America Corp DE lifted its stake in Alpha Tau Medical by 2,779.1% in the third quarter. Bank of America Corp DE now owns 22,457 shares of the company’s stock valued at $101,000 after buying an additional 21,677 shares during the last quarter. Wells Fargo & Company MN lifted its stake in 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 buying an additional 17,500 shares during the last quarter. Everhart Financial Group Inc. acquired a new stake in shares of Alpha Tau Medical in the second quarter valued at approximately $126,000. Finally, Principal Financial Group Inc. acquired a new stake in shares of Alpha Tau Medical in the first quarter valued at approximately $132,000. 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.