Alpha Tau Medical (NASDAQ:DRTS) Given New $9.00 Price Target at Citigroup

Alpha Tau Medical (NASDAQ:DRTS) had its price target upped by research analysts at Citigroup from $7.00 to $9.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price objective would indicate a potential upside of 30.53% from the company’s previous close.

DRTS has been the subject of a number of other reports. Zacks Research upgraded shares of Alpha Tau Medical from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 17th. Piper Sandler reiterated a “neutral” rating and issued a $5.00 price target on shares of Alpha Tau Medical in a research note on Wednesday, March 4th. HC Wainwright restated a “buy” rating and set a $12.00 price objective on shares of Alpha Tau Medical in a research report on Tuesday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Alpha Tau Medical in a research note on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $8.67.

Alpha Tau Medical Stock Up 0.8%

Shares of DRTS traded up $0.06 during midday trading on Wednesday, hitting $6.90. The company’s stock had a trading volume of 95,117 shares, compared to its average volume of 395,013. Alpha Tau Medical has a one year low of $2.30 and a one year high of $8.60. The stock has a market capitalization of $584.83 million, a price-to-earnings ratio of -13.01 and a beta of 1.02. The company’s fifty day simple moving average is $6.97 and its two-hundred day simple moving average is $5.10.

Alpha Tau Medical (NASDAQ:DRTS) last released its quarterly earnings data on Wednesday, March 11th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.01). On average, research analysts predict that Alpha Tau Medical will post -0.45 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Trifecta Capital Advisors LLC bought a new stake in Alpha Tau Medical in the fourth quarter worth approximately $48,000. Envestnet Asset Management Inc. acquired a new stake in shares of Alpha Tau Medical during the 3rd quarter worth approximately $62,000. Bank of America Corp DE increased its stake in shares of Alpha Tau Medical by 2,779.1% in the 3rd quarter. Bank of America Corp DE now owns 22,457 shares of the company’s stock valued at $101,000 after acquiring an additional 21,677 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Alpha Tau Medical by 291.7% in the 4th quarter. Wells Fargo & Company MN now owns 23,500 shares of the company’s stock valued at $116,000 after acquiring an additional 17,500 shares in the last quarter. Finally, Millennium Management LLC acquired a new position in shares of Alpha Tau Medical during the 3rd quarter valued at $170,000. 2.65% of the stock is owned by institutional investors.

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.