Alpha Tau Medical (NASDAQ:DRTS) Sets New 1-Year High – Should You Buy?

Alpha Tau Medical Ltd. (NASDAQ:DRTS) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $15.11 and last traded at $15.0750, with a volume of 355484 shares. The stock had previously closed at $14.62.

Analyst Ratings Changes

A number of research analysts recently weighed in on DRTS shares. LADENBURG THALM/SH SH raised their target price on shares of Alpha Tau Medical from $12.00 to $14.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Benchmark reaffirmed a “buy” rating on shares of Alpha Tau Medical in a research note on Thursday, July 23rd. Barclays increased their price objective on shares of Alpha Tau Medical from $17.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday. Piper Sandler lifted their price objective on shares of Alpha Tau Medical from $5.00 to $8.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 19th. Finally, Zacks Research downgraded shares of Alpha Tau Medical from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 1st. Five research 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, the stock presently has a consensus rating of “Hold” and a consensus target price of $15.40.

Alpha Tau Medical Price Performance

The firm has a market capitalization of $1.36 billion, a P/E ratio of -14.45 and a beta of 1.20. 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 firm has a 50 day moving average price of $13.34 and a 200-day moving average price of $10.12.

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

Insiders Place Their Bets

In other news, CFO Raphi Levy sold 20,000 shares of the stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $12.00, for a total value of $240,000.00. Following the sale, the chief financial officer 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 legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 100,371 shares of company stock worth $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 large investors have recently made changes to their positions in DRTS. Envestnet Asset Management Inc. bought a new position in Alpha Tau Medical during the 3rd quarter valued at about $62,000. Bank of America Corp DE boosted its position 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 valued at $101,000 after buying an additional 21,677 shares during the period. Wells Fargo & Company MN boosted its position in shares of Alpha Tau Medical by 291.7% during the fourth quarter. Wells Fargo & Company MN now owns 23,500 shares of the company’s stock valued at $116,000 after buying an additional 17,500 shares during the period. Everhart Financial Group Inc. bought a new position in shares of Alpha Tau Medical during the second quarter valued at approximately $126,000. Finally, Principal Financial Group Inc. bought a new position in shares of Alpha Tau Medical during the first quarter valued at approximately $132,000. 2.65% of the stock is owned by hedge funds and other institutional investors.

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.