Alpha Tau Medical (NASDAQ:DRTS) Shares Down 6.6% – Here’s What Happened

Alpha Tau Medical Ltd. (NASDAQ:DRTS) shares were down 6.6% on Tuesday . The stock traded as low as $7.18 and last traded at $7.1980. Approximately 216,919 shares were traded during trading, a decline of 52% from the average daily volume of 454,442 shares. The stock had previously closed at $7.71.

Wall Street Analyst Weigh In

DRTS has been the subject of several analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alpha Tau Medical in a research note on Wednesday, January 21st. Zacks Research downgraded shares of Alpha Tau Medical from a “hold” rating to a “strong sell” rating in a research report on Monday, January 19th. HC Wainwright restated a “buy” rating on shares of Alpha Tau Medical in a research report on Wednesday, December 10th. Wall Street Zen raised Alpha Tau Medical to a “sell” rating in a report on Saturday, November 1st. Finally, Citigroup dropped their price objective on Alpha Tau Medical from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, December 10th. Two research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, Alpha Tau Medical has a consensus rating of “Hold” and an average target price of $8.00.

Alpha Tau Medical Stock Performance

The company has a market cap of $620.54 million, a PE ratio of -14.11 and a beta of 1.04. The firm’s 50 day moving average is $5.89 and its 200-day moving average is $4.49.

Alpha Tau Medical (NASDAQ:DRTS) last issued its earnings results on Thursday, November 20th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.02). On average, analysts predict that Alpha Tau Medical Ltd. will post -0.45 EPS for the current year.

Hedge Funds Weigh In On Alpha Tau Medical

Several institutional investors and hedge funds have recently bought and sold shares of DRTS. Trifecta Capital Advisors LLC purchased a new stake in shares of Alpha Tau Medical during the 4th quarter valued at approximately $48,000. Envestnet Asset Management Inc. acquired a new stake in Alpha Tau Medical during the third quarter worth $62,000. Bank of America Corp DE raised its position 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 purchasing an additional 21,677 shares during the period. Millennium Management LLC acquired a new position in shares of Alpha Tau Medical in the 3rd quarter valued at $170,000. Finally, Mariner LLC grew its holdings in shares of Alpha Tau Medical by 185.8% during 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 during the period. 2.65% of the stock is currently owned by institutional investors and hedge funds.

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.