Alpha Tau Medical (NASDAQ:DRTS) Stock Bumped Up to “Hold” by Zacks Research

Alpha Tau Medical (NASDAQ:DRTS) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday, Zacks reports.

A number of other research analysts also recently weighed in on the company. Benchmark restated a “buy” rating on shares of Alpha Tau Medical in a research note on Thursday, July 23rd. Barclays raised their target price on shares of Alpha Tau Medical from $17.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, September 3rd. HC Wainwright reiterated a “buy” rating and set a $16.00 price target on shares of Alpha Tau Medical in a report on Tuesday, October 20th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Alpha Tau Medical in a research report on Thursday, October 15th. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Alpha Tau Medical currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.40.

Alpha Tau Medical Price Performance

NASDAQ:DRTS opened at $13.70 on Monday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 7.79 and a current ratio of 11.09. The stock’s 50-day simple moving average is $14.11 and its 200 day simple moving average is $10.82. The company has a market cap of $1.24 billion, a P/E ratio of -13.17 and a beta of 1.28. Alpha Tau Medical has a 52-week low of $3.43 and a 52-week high of $15.79.

Alpha Tau Medical (NASDAQ:DRTS) last released its earnings results on Monday, August 10th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.36). As a group, sell-side analysts forecast that Alpha Tau Medical will post -1.05 EPS for the current fiscal year.

Insiders Place Their Bets

In other Alpha Tau Medical news, CFO Raphi Levy sold 2,871 shares of the firm’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $15.00, for a total transaction of $43,065.00. Following the completion of the sale, the chief financial officer owned 90,180 shares of the company’s stock, valued at $1,352,700. This trade represents a 3.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 39.50% of the company’s stock.

Hedge Funds Weigh In On Alpha Tau Medical

Several institutional investors and hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC bought a new position in shares of Alpha Tau Medical in the first quarter valued at about $286,000. Principal Financial Group Inc. bought a new stake in shares of Alpha Tau Medical during the 1st quarter worth about $132,000. Finally, Everhart Financial Group Inc. bought a new stake in shares of Alpha Tau Medical during the 2nd quarter worth about $126,000. 2.65% of the stock is currently owned by institutional investors and hedge funds.

Alpha Tau Medical Company Profile

Alpha Tau Medical Ltd. is an Israel-based medical technology company developing Alpha DaRT, an investigational radiation treatment for solid tumors. The company was founded in 2016 and is headquartered in Jerusalem. Alpha DaRT uses tiny sources containing radium-224 that are placed directly inside a tumor. As the material decays, it releases alpha-emitting atoms that travel a short distance through the tumor, aiming to destroy cancer cells while limiting exposure to nearby healthy tissue. The company is conducting clinical development of Alpha DaRT for multiple types of solid tumors, with research and clinical trials in Israel and other countries, including the United States and Japan.