Zacks Research Upgrades Alpha Tau Medical (NASDAQ:DRTS) to “Hold”

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

A number of other research firms have also recently commented on DRTS. HC Wainwright reiterated a “buy” rating on shares of Alpha Tau Medical in a research note on Wednesday, December 10th. Wall Street Zen raised shares of Alpha Tau Medical to a “sell” rating in a research report on Saturday, November 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of Alpha Tau Medical in a research report on Wednesday, January 21st. Finally, Citigroup cut their price target on shares of Alpha Tau Medical from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday, December 10th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $8.00.

Alpha Tau Medical Trading Down 1.9%

NASDAQ DRTS opened at $7.32 on Tuesday. The firm’s fifty day simple moving average is $6.34 and its two-hundred day simple moving average is $4.69. The firm has a market capitalization of $620.88 million, a P/E ratio of -14.08 and a beta of 1.05. Alpha Tau Medical has a 12-month low of $2.30 and a 12-month high of $7.89.

Alpha Tau Medical (NASDAQ:DRTS) last issued its quarterly earnings data on Thursday, November 20th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.02). As a group, sell-side analysts predict that Alpha Tau Medical will post -0.45 earnings per share for the current fiscal year.

Institutional Trading of Alpha Tau Medical

A number of hedge funds and other institutional investors have recently made changes to their positions in DRTS. Envestnet Asset Management Inc. acquired a new stake in shares of Alpha Tau Medical during the 3rd quarter worth approximately $62,000. Levin Capital Strategies L.P. boosted its holdings in Alpha Tau Medical by 6.3% during the third quarter. Levin Capital Strategies L.P. now owns 204,714 shares of the company’s stock worth $923,000 after buying an additional 12,200 shares in the last quarter. Bank of America Corp DE boosted its holdings 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 worth $101,000 after buying an additional 21,677 shares in the last quarter. Millennium Management LLC acquired a new stake in Alpha Tau Medical during the third quarter valued at $170,000. Finally, Mariner LLC increased its holdings in Alpha Tau Medical by 185.8% in the third quarter. Mariner LLC now owns 123,250 shares of the company’s stock valued at $556,000 after buying an additional 80,129 shares in the last quarter. Institutional investors and hedge funds own 2.65% of the company’s stock.

Alpha Tau Medical Company Profile

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.