Alpha Tau Medical Ltd. (NASDAQ:DRTS) Given Average Rating of “Hold” by Brokerages

Shares of Alpha Tau Medical Ltd. (NASDAQ:DRTS) have been given an average recommendation of “Hold” by the seven research firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $12.60.

DRTS has been the subject of a number of recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alpha Tau Medical in a research note on Monday, April 20th. Barclays raised their price objective on shares of Alpha Tau Medical from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Thursday, June 4th. Zacks Research raised shares of Alpha Tau Medical from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 17th. Citigroup boosted their target price on shares of Alpha Tau Medical from $7.00 to $9.00 and gave the stock a “buy” rating in a research note on Wednesday, March 11th. Finally, HC Wainwright reissued a “buy” rating and issued a $15.00 target price on shares of Alpha Tau Medical in a report on Tuesday, June 2nd.

Insider Activity

In other news, CFO Raphi Levy sold 32,500 shares of the stock in a transaction dated 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 represents a 18.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 39.50% of the company’s stock.

Hedge Funds Weigh In On Alpha Tau Medical

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DRTS. Daytona Street Capital LLC acquired a new stake in Alpha Tau Medical during the fourth quarter worth approximately $749,000. Apella Capital LLC acquired a new position in shares of Alpha Tau Medical in the 4th quarter valued at $1,892,000. Levin Capital Strategies L.P. boosted its holdings in shares of Alpha Tau Medical by 6.3% in the 3rd quarter. Levin Capital Strategies L.P. now owns 204,714 shares of the company’s stock valued at $923,000 after buying an additional 12,200 shares in the last quarter. Mariner LLC grew its position in shares of 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 buying an additional 1,915 shares during the last quarter. Finally, Millennium Management LLC grew its position in shares of 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 buying an additional 70,081 shares during the last quarter. 2.65% of the stock is owned by institutional investors and hedge funds.

Alpha Tau Medical Price Performance

Shares of NASDAQ DRTS opened at $9.68 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.79 and a quick ratio of 7.79. The company has a market cap of $874.39 million, a price-to-earnings ratio of -14.45 and a beta of 1.19. The stock’s 50-day moving average is $8.79 and its two-hundred day moving average is $7.16. Alpha Tau Medical has a 1-year low of $2.85 and a 1-year high of $11.62.

Alpha Tau Medical (NASDAQ:DRTS) last announced its quarterly earnings data on Monday, May 18th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.13). Analysts forecast that Alpha Tau Medical will post -0.67 EPS for the current fiscal year.

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.