Zacks Research Upgrades Alpha Tau Medical (NASDAQ:DRTS) to Hold

Alpha Tau Medical (NASDAQ:DRTS) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Monday, Zacks reports.

DRTS has been the subject of several other reports. Weiss Ratings restated a “sell (d-)” rating on shares of Alpha Tau Medical in a research note on Thursday, October 15th. HC Wainwright reiterated a “buy” rating and set a $16.00 price objective on shares of Alpha Tau Medical in a research report on Tuesday, October 20th. Barclays boosted their target price on shares of Alpha Tau Medical from $17.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, September 3rd. Finally, Benchmark reissued a “buy” rating on shares of Alpha Tau Medical in a report on Thursday, July 23rd. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $15.40.

Alpha Tau Medical Price Performance

Shares of Alpha Tau Medical stock opened at $13.70 on Monday. The stock’s 50-day simple moving average is $14.11 and its 200-day simple moving average is $10.82. Alpha Tau Medical has a 52 week low of $3.43 and a 52 week high of $15.79. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of -13.17 and a beta of 1.28. The company has a quick ratio of 7.79, a current ratio of 11.09 and a debt-to-equity ratio of 0.15.

Alpha Tau Medical (NASDAQ:DRTS) last issued its earnings results on Monday, August 10th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.36). As a group, analysts expect that Alpha Tau Medical will post -1.05 earnings per share for the current fiscal year.

Insider Transactions at Alpha Tau Medical

In related news, CFO Raphi Levy sold 2,871 shares of the company’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $15.00, for a total transaction of $43,065.00. Following the sale, the chief financial officer owned 90,180 shares of the company’s stock, valued at $1,352,700. This represents a 3.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 39.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alpha Tau Medical

A number of institutional investors and hedge funds have recently made changes to their positions in DRTS. Everhart Financial Group Inc. bought a new stake in shares of Alpha Tau Medical in the 2nd quarter worth about $126,000. Principal Financial Group Inc. purchased a new stake in shares of Alpha Tau Medical during the 1st quarter valued at about $132,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of Alpha Tau Medical during the 1st quarter valued at about $286,000. 2.65% of the stock is owned by hedge funds and other institutional investors.

Alpha Tau Medical Company Profile

Alpha Tau Medical Ltd. is an Israel-based medical technology company developing Alpha DaRT, an investigational radiation treatment for solid tumors. The company was founded in 2016 and is headquartered in Jerusalem. Alpha DaRT uses tiny sources containing radium-224 that are placed directly inside a tumor. As the material decays, it releases alpha-emitting atoms that travel a short distance through the tumor, aiming to destroy cancer cells while limiting exposure to nearby healthy tissue. The company is conducting clinical development of Alpha DaRT for multiple types of solid tumors, with research and clinical trials in Israel and other countries, including the United States and Japan.