Alpha Tau Medical’s (DRTS) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Alpha Tau Medical (NASDAQ:DRTS) in a research report released on Wednesday morning, MarketBeat Ratings reports. HC Wainwright currently has a $15.00 price objective on the stock.

A number of other research analysts also recently commented on the stock. LADENBURG THALM/SH SH upped their price objective 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 restated a “sell (d-)” rating on shares of Alpha Tau Medical in a report on Friday, July 17th. Piper Sandler boosted their target price on shares of Alpha Tau Medical from $5.00 to $8.00 and gave the company a “neutral” rating in a report on Tuesday, May 19th. Zacks Research lowered shares of Alpha Tau Medical from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 1st. Finally, Barclays increased 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. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $12.60.

Alpha Tau Medical Price Performance

Shares of NASDAQ:DRTS opened at $12.50 on Wednesday. The company has a market cap of $1.13 billion, a P/E ratio of -18.66 and a beta of 1.17. The business has a fifty day simple moving average of $11.13 and a 200-day simple moving average of $8.71. Alpha Tau Medical has a 52 week low of $2.87 and a 52 week high of $14.11. The company has a quick ratio of 7.79, a current ratio of 7.79 and a debt-to-equity ratio of 0.09.

Alpha Tau Medical (NASDAQ:DRTS) last released its earnings results on Monday, May 18th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.13). Equities research analysts forecast that Alpha Tau Medical will post -0.67 EPS for the current year.

Insider Buying and Selling

In other news, CFO Raphi Levy sold 2,270 shares of the firm’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $14.00, for a total value of $31,780.00. Following the transaction, the chief financial officer directly owned 90,180 shares in the company, valued at $1,262,520. This trade represents a 2.46% decrease in their position. The transaction 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. Insiders sold 112,270 shares of company stock worth $1,270,923 in the last ninety days. Corporate insiders own 39.50% of the company’s stock.

Institutional Trading of Alpha Tau Medical

Institutional investors have recently modified their holdings of the company. Envestnet Asset Management Inc. acquired a new stake in Alpha Tau Medical during the 3rd quarter worth approximately $62,000. Bank of America Corp DE lifted its position in Alpha Tau Medical by 2,779.1% during 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 in the last quarter. Millennium Management LLC acquired a new position in Alpha Tau Medical during the third quarter valued at approximately $170,000. Mariner LLC grew its stake in Alpha Tau Medical by 185.8% during the third quarter. Mariner LLC now owns 123,250 shares of the company’s stock worth $556,000 after buying an additional 80,129 shares during the period. Finally, Apella Capital LLC purchased a new stake in Alpha Tau Medical during the fourth quarter worth approximately $1,892,000. Hedge funds and other 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.