Alpha Tau Medical (NASDAQ:DRTS) Downgraded by Zacks Research to Strong Sell

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

DRTS has been the subject of a number of other research reports. Citigroup lifted their price objective on shares of Alpha Tau Medical from $7.00 to $9.00 and gave the company a “buy” rating in a report on Wednesday, March 11th. Piper Sandler lifted their price target on shares of Alpha Tau Medical from $5.00 to $8.00 and gave the company a “neutral” rating in a research note on Tuesday, May 19th. HC Wainwright reissued a “buy” rating and issued a $15.00 price target on shares of Alpha Tau Medical in a report on Tuesday, June 2nd. Barclays upped their price objective on shares of Alpha Tau Medical from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday, June 4th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Alpha Tau Medical in a research report on Monday, April 20th. Four equities research 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $12.60.

Alpha Tau Medical Stock Up 4.7%

DRTS stock opened at $13.23 on Wednesday. The company has a market capitalization of $1.20 billion, a P/E ratio of -19.75 and a beta of 1.17. Alpha Tau Medical has a 12 month low of $2.87 and a 12 month high of $13.23. The firm’s fifty day simple moving average is $9.75 and its 200-day simple moving average is $7.85. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.79 and a quick ratio of 7.79.

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

Insider Buying and Selling

In other Alpha Tau Medical news, CFO Raphi Levy sold 32,500 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $10.83, for a total value of $351,975.00. Following the transaction, the chief financial officer owned 147,680 shares in the company, valued at approximately $1,599,374.40. This trade represents a 18.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last three months, insiders sold 92,127 shares of company stock valued at $1,006,794. 39.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alpha Tau Medical

A number of large investors have recently modified their holdings of DRTS. Apella Capital LLC purchased a new position in shares of Alpha Tau Medical in the fourth quarter worth about $1,892,000. Daytona Street Capital LLC purchased a new stake in Alpha Tau Medical during the 4th quarter valued at about $749,000. Mariner LLC raised its holdings in Alpha Tau Medical by 1.6% in the 4th quarter. Mariner LLC now owns 125,165 shares of the company’s stock valued at $620,000 after acquiring an additional 1,915 shares during the last quarter. Millennium Management LLC raised its holdings in Alpha Tau Medical by 185.7% in the 4th quarter. Millennium Management LLC now owns 107,815 shares of the company’s stock valued at $534,000 after acquiring an additional 70,081 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Alpha Tau Medical in the 1st quarter worth approximately $286,000. Hedge funds and other institutional investors 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.