Alpha Tau Medical (NASDAQ:DRTS) Stock Price Up 5.5% on Analyst Upgrade

Shares of Alpha Tau Medical Ltd. (NASDAQ:DRTS) shot up 5.5% on Tuesday after Piper Sandler raised their price target on the stock from $5.00 to $8.00. Piper Sandler currently has a neutral rating on the stock. Alpha Tau Medical traded as high as $10.40 and last traded at $10.5840. 126,066 shares were traded during trading, a decline of 72% from the average session volume of 445,166 shares. The stock had previously closed at $10.03.

Several other analysts also recently weighed in on DRTS. Weiss Ratings reissued a “sell (d-)” rating on shares of Alpha Tau Medical in a research report on Monday, April 20th. HC Wainwright raised their price target on shares of Alpha Tau Medical from $12.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Zacks Research upgraded shares of Alpha Tau Medical from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 17th. Citigroup upped their target price on Alpha Tau Medical from $7.00 to $9.00 and gave the company a “buy” rating in a research report on Wednesday, March 11th. Finally, LADENBURG THALM/SH SH raised their target price on Alpha Tau Medical from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Alpha Tau Medical currently has a consensus rating of “Hold” and a consensus target price of $11.50.

Institutional Trading of Alpha Tau Medical

Institutional investors and hedge funds have recently bought and sold shares of the business. Envestnet Asset Management Inc. purchased a new stake in shares of Alpha Tau Medical in the 3rd quarter valued at $62,000. Levin Capital Strategies L.P. increased its stake in shares of Alpha Tau Medical by 6.3% in the third quarter. Levin Capital Strategies L.P. now owns 204,714 shares of the company’s stock worth $923,000 after acquiring an additional 12,200 shares during the period. Bank of America Corp DE raised its holdings in shares of 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 purchasing an additional 21,677 shares during the last quarter. Millennium Management LLC acquired a new position in Alpha Tau Medical during the third quarter valued at $170,000. Finally, Mariner LLC lifted its position in Alpha Tau Medical by 185.8% during the third quarter. Mariner LLC now owns 123,250 shares of the company’s stock valued at $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.

Alpha Tau Medical Stock Performance

The company has a debt-to-equity ratio of 0.08, a current ratio of 7.45 and a quick ratio of 7.45. The company has a market capitalization of $919.70 million, a PE ratio of -19.76 and a beta of 1.11. The firm’s fifty day simple moving average is $7.70 and its 200 day simple moving average is $6.38.

Alpha Tau Medical (NASDAQ:DRTS) last released its quarterly earnings data on Monday, May 18th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.13). On average, research analysts predict that Alpha Tau Medical Ltd. will post -0.5 EPS for the current year.

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.