Alpha Tau Medical (NASDAQ:DRTS) Hits New 1-Year High – Still a Buy?

Shares of Alpha Tau Medical Ltd. (NASDAQ:DRTS) reached a new 52-week high on Tuesday . The company traded as high as $7.13 and last traded at $7.09, with a volume of 677520 shares changing hands. The stock had previously closed at $6.93.

Analyst Ratings Changes

DRTS has been the subject of a number of analyst reports. HC Wainwright reissued a “buy” rating on shares of Alpha Tau Medical in a research report on Wednesday, December 10th. Wall Street Zen raised shares of Alpha Tau Medical to a “sell” rating in a report on Saturday, November 1st. Citigroup reduced their target price on shares of Alpha Tau Medical from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, December 10th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Alpha Tau Medical in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Alpha Tau Medical has a consensus rating of “Hold” and a consensus target price of $8.00.

Alpha Tau Medical Trading Up 2.3%

The company has a market capitalization of $601.37 million, a PE ratio of -13.63 and a beta of 1.04. The stock’s fifty day moving average is $4.55 and its two-hundred day moving average is $3.92.

Alpha Tau Medical (NASDAQ:DRTS) last announced its quarterly earnings data on Thursday, November 20th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.02). As a group, analysts anticipate that Alpha Tau Medical Ltd. will post -0.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Alpha Tau Medical

Institutional investors have recently bought and sold shares of the company. Levin Capital Strategies L.P. grew its holdings in Alpha Tau Medical by 6.3% during the third quarter. Levin Capital Strategies L.P. now owns 204,714 shares of the company’s stock valued at $923,000 after purchasing an additional 12,200 shares during the period. Mariner LLC lifted its position in shares of Alpha Tau Medical by 185.8% during the 3rd quarter. Mariner LLC now owns 123,250 shares of the company’s stock valued at $556,000 after buying an additional 80,129 shares during the last quarter. Millennium Management LLC purchased a new position in shares of Alpha Tau Medical during the 3rd quarter valued at $170,000. Bank of America Corp DE grew its stake in shares of Alpha Tau Medical by 2,779.1% during the 3rd quarter. Bank of America Corp DE now owns 22,457 shares of the company’s stock worth $101,000 after acquiring an additional 21,677 shares during the period. Finally, Envestnet Asset Management Inc. purchased a new stake in Alpha Tau Medical in the 3rd quarter worth about $62,000. 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.