Alpha Tau Medical (NASDAQ:DRTS) Reaches New 1-Year High – What’s Next?

Alpha Tau Medical Ltd. (NASDAQ:DRTS)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $15.20 and last traded at $14.9410, with a volume of 446149 shares traded. The stock had previously closed at $14.87.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on DRTS shares. Zacks Research cut shares of Alpha Tau Medical from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 1st. Benchmark reiterated a “buy” rating on shares of Alpha Tau Medical in a research note on Thursday, July 23rd. Barclays boosted their target price on Alpha Tau Medical from $17.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, September 3rd. HC Wainwright upped their price target on Alpha Tau Medical from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Finally, Piper Sandler increased their price target on Alpha Tau Medical from $5.00 to $8.00 and gave the stock a “neutral” rating in a report on Tuesday, May 19th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $15.40.

Alpha Tau Medical Stock Up 1.2%

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 firm’s fifty day moving average is $13.60 and its 200-day moving average is $10.49. The stock has a market capitalization of $1.36 billion, a PE ratio of -14.47 and a beta of 1.20.

Alpha Tau Medical (NASDAQ:DRTS) last posted its quarterly 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). On average, equities research analysts predict that Alpha Tau Medical Ltd. will post -1.05 earnings per share for the current year.

Insider Buying and Selling

In other Alpha Tau Medical news, CFO Raphi Levy sold 2,871 shares of the business’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $15.00, for a total transaction of $43,065.00. Following the sale, the chief financial officer directly owned 90,180 shares in the company, valued at approximately $1,352,700. The trade was a 3.09% decrease in their position. The sale 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 a total of 100,371 shares of company stock valued at $1,210,233 over the last three months. 39.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in DRTS. Renaissance Technologies LLC acquired a new stake in shares of Alpha Tau Medical during the 1st quarter valued at approximately $286,000. Principal Financial Group Inc. purchased a new stake in shares of Alpha Tau Medical during the 1st quarter worth approximately $132,000. Finally, Everhart Financial Group Inc. acquired a new stake in shares of Alpha Tau Medical in the 2nd quarter worth approximately $126,000. 2.65% of the stock is owned by hedge funds and other institutional investors.

About Alpha Tau Medical

Alpha Tau Medical Ltd. is an Israel-based biotechnology and medical technology company developing targeted alpha radiation therapies for the treatment of solid tumors. Its lead technology, Alpha DaRT (Diffusing Alpha-emitters Radiation Therapy), is designed to deliver localized alpha radiation directly within a tumor while limiting exposure to surrounding healthy tissue.

Alpha DaRT uses radium-224 sources placed into or near a tumor. As the radium decays, its short-range alpha-emitting products are intended to diffuse through the tumor and destroy cancer cells.