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

Zacks Research lowered shares of Alpha Tau Medical (NASDAQ:DRTS) from a hold rating to a strong sell rating in a research report released on Tuesday,Zacks reports.

Several other brokerages have also issued reports on DRTS. Piper Sandler raised their price objective on Alpha Tau Medical from $5.00 to $8.00 and gave the stock a “neutral” rating in a report on Tuesday, May 19th. LADENBURG THALM/SH SH boosted their target price on Alpha Tau Medical from $12.00 to $14.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Benchmark reissued a “buy” rating on shares of Alpha Tau Medical in a research report on Thursday, July 23rd. Barclays lifted their price target 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. Finally, HC Wainwright boosted their price objective on Alpha Tau Medical from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $12.80.

Alpha Tau Medical Trading Up 2.7%

Shares of Alpha Tau Medical stock opened at $14.33 on Tuesday. The company has a current ratio of 11.09, a quick ratio of 7.79 and a debt-to-equity ratio of 0.15. The company has a fifty day simple moving average of $13.19 and a 200-day simple moving average of $10.03. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of -13.78 and a beta of 1.20. Alpha Tau Medical has a 12-month low of $3.35 and a 12-month high of $15.10.

Alpha Tau Medical (NASDAQ:DRTS) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.36). On average, equities analysts forecast that Alpha Tau Medical will post -0.92 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Raphi Levy sold 20,000 shares of the company’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $12.00, for a total value of $240,000.00. Following the completion of the sale, the chief financial officer directly owned 90,180 shares of the company’s stock, valued at approximately $1,082,160. This represents a 18.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 100,371 shares of company stock valued at $1,210,233 in the last quarter. Insiders own 39.50% of the company’s stock.

Hedge Funds Weigh In On 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. purchased a new stake in Alpha Tau Medical during the 3rd quarter valued at approximately $62,000. Bank of America Corp DE grew 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 purchasing an additional 21,677 shares during the last quarter. Millennium Management LLC purchased a new position in shares of Alpha Tau Medical in the 3rd quarter valued at approximately $170,000. Mariner LLC increased 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 valued at $556,000 after purchasing an additional 80,129 shares during the period. Finally, Wells Fargo & Company MN increased its holdings 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 valued at $116,000 after purchasing an additional 17,500 shares during the period. Hedge funds and other institutional investors own 2.65% of the company’s stock.

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.