Alpha Tau Medical (NASDAQ:DRTS) Reaches New 12-Month High – Still a Buy?

Alpha Tau Medical Ltd. (NASDAQ:DRTS) hit a new 52-week high during trading on Thursday . The company traded as high as $15.10 and last traded at $15.0340, with a volume of 251547 shares trading hands. The stock had previously closed at $14.96.

Analyst Upgrades and Downgrades

DRTS has been the topic of several research reports. Zacks Research raised shares of Alpha Tau Medical from a “strong sell” rating to a “hold” rating in a research report on Monday, August 3rd. HC Wainwright increased their price target on shares of Alpha Tau Medical from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Piper Sandler raised their price objective on shares of Alpha Tau Medical from $5.00 to $8.00 and gave the company a “neutral” rating in a research report on Tuesday, May 19th. Benchmark reaffirmed a “buy” rating on shares of Alpha Tau Medical in a report on Thursday, July 23rd. Finally, Barclays increased their price objective on Alpha Tau Medical from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday, June 4th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $12.80.

Alpha Tau Medical Trading Down 1.1%

The firm has a market cap of $1.32 billion, a P/E ratio of -14.08 and a beta of 1.17. The company has a debt-to-equity ratio of 0.15, a current ratio of 11.09 and a quick ratio of 7.79. The stock has a 50 day moving average of $12.94 and a 200 day moving average of $9.88.

Alpha Tau Medical (NASDAQ:DRTS) last issued its quarterly 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). The business had revenue of $0.10 million during the quarter, compared to analysts’ expectations of $0.14 million. As a group, equities research analysts predict that Alpha Tau Medical Ltd. will post -0.92 EPS for the current year.

Insider Transactions at Alpha Tau Medical

In other Alpha Tau Medical news, CFO Raphi Levy sold 2,871 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 90,180 shares in the company, valued at $1,352,700. This trade represents a 3.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 132,871 shares of company stock valued at $1,562,208 over the last ninety days. 39.50% of the stock is owned by corporate insiders.

Institutional Trading of Alpha Tau Medical

Several hedge funds have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. bought a new position in shares of Alpha Tau Medical during the third quarter valued at about $62,000. Bank of America Corp DE lifted 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 last quarter. Millennium Management LLC purchased a new stake in shares of Alpha Tau Medical during the third quarter valued at approximately $170,000. Mariner LLC grew its holdings in shares of Alpha Tau Medical by 185.8% in the third 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 last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of Alpha Tau Medical by 291.7% in the fourth quarter. Wells Fargo & Company MN now owns 23,500 shares of the company’s stock worth $116,000 after buying an additional 17,500 shares during the period. 2.65% of the stock is owned by 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.