HC Wainwright Reaffirms Buy Rating for Alpha Tau Medical (NASDAQ:DRTS)

Alpha Tau Medical (NASDAQ:DRTS)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a report issued on Thursday,Benzinga reports. They currently have a $15.00 price target on the stock. HC Wainwright’s price target suggests a potential upside of 10.70% from the stock’s previous close.

Several other research analysts also recently commented on the company. LADENBURG THALM/SH SH raised their target price on Alpha Tau Medical from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Piper Sandler upped their price target on Alpha Tau Medical from $5.00 to $8.00 and gave the company a “neutral” rating in a research report on Tuesday, May 19th. Zacks Research downgraded shares of Alpha Tau Medical from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 1st. 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 research report on Thursday, June 4th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alpha Tau Medical in a research note on Monday, April 20th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $12.60.

Alpha Tau Medical Stock Up 14.1%

Alpha Tau Medical stock opened at $13.55 on Thursday. The firm has a 50 day simple moving average of $10.83 and a 200 day simple moving average of $8.42. The company has a current ratio of 7.79, a quick ratio of 7.79 and a debt-to-equity ratio of 0.09. Alpha Tau Medical has a 1-year low of $2.87 and a 1-year high of $14.11. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of -20.22 and a beta of 1.17.

Alpha Tau Medical (NASDAQ:DRTS) last posted its earnings results 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). On average, analysts predict that Alpha Tau Medical will post -0.67 earnings per share for the current year.

Insider Activity

In other news, CFO Raphi Levy sold 2,270 shares of the business’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $14.00, for a total transaction of $31,780.00. Following the completion of the transaction, the chief financial officer owned 90,180 shares of the company’s stock, valued at approximately $1,262,520. The trade was a 2.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 112,270 shares of company stock worth $1,270,923. Company insiders own 39.50% of the company’s stock.

Institutional Investors Weigh In On Alpha Tau Medical

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Daytona Street Capital LLC bought a new position in shares of Alpha Tau Medical in the 4th quarter worth $749,000. Apella Capital LLC bought a new stake in shares of Alpha Tau Medical during the 4th quarter worth $1,892,000. Millennium Management LLC grew its position in Alpha Tau Medical by 185.7% in the fourth quarter. Millennium Management LLC now owns 107,815 shares of the company’s stock worth $534,000 after acquiring an additional 70,081 shares in the last quarter. Mariner LLC grew its position in Alpha Tau Medical by 1.6% in the fourth quarter. Mariner LLC now owns 125,165 shares of the company’s stock worth $620,000 after acquiring an additional 1,915 shares in the last quarter. Finally, Wells Fargo & Company MN grew its position in Alpha Tau Medical by 291.7% in the fourth quarter. Wells Fargo & Company MN now owns 23,500 shares of the company’s stock worth $116,000 after acquiring an additional 17,500 shares in the last quarter. 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.