HC Wainwright Reiterates 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 Wednesday, MarketBeat Ratings reports. They presently have a $15.00 price objective on the stock. HC Wainwright’s price target suggests a potential upside of 13.29% from the company’s current price.

DRTS has been the topic of several other reports. LADENBURG THALM/SH SH raised their price objective on Alpha Tau Medical from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Barclays upped their target price on Alpha Tau Medical from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday, June 4th. Piper Sandler increased their target price on Alpha Tau Medical from $5.00 to $8.00 and gave the company a “neutral” rating in a research note on Tuesday, May 19th. Zacks Research downgraded Alpha Tau Medical from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 1st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Alpha Tau Medical in a research report on Friday, July 17th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $12.60.

Alpha Tau Medical Price Performance

DRTS opened at $13.24 on Wednesday. Alpha Tau Medical has a 52-week low of $2.87 and a 52-week high of $14.11. The company has a 50 day moving average of $11.08 and a two-hundred day moving average of $8.68. The company has a market cap of $1.20 billion, a P/E ratio of -19.76 and a beta of 1.17. The company has a quick ratio of 7.79, a current ratio of 7.79 and a debt-to-equity ratio of 0.09.

Alpha Tau Medical (NASDAQ:DRTS) last issued its earnings results on Monday, May 18th. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.13). On average, analysts expect that Alpha Tau Medical will post -0.67 earnings per share for the current year.

Insider Buying and Selling

In other Alpha Tau Medical news, CFO Raphi Levy sold 32,500 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $10.83, for a total value of $351,975.00. Following the completion of the transaction, the chief financial officer directly owned 147,680 shares of the company’s stock, valued at $1,599,374.40. This represents a 18.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last quarter, insiders have sold 112,270 shares of company stock valued at $1,270,923. Insiders own 39.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Mariner LLC raised 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 purchasing an additional 1,915 shares in the last quarter. Trifecta Capital Advisors LLC purchased a new position in shares of Alpha Tau Medical during the 4th quarter valued at approximately $48,000. Everhart Financial Group Inc. acquired a new stake in shares of Alpha Tau Medical during the second quarter worth approximately $126,000. Envestnet Asset Management Inc. bought a new stake in shares of Alpha Tau Medical in the third quarter worth $62,000. Finally, Wells Fargo & Company MN increased its stake in shares of 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 buying an additional 17,500 shares during the last quarter. Institutional investors and hedge funds own 2.65% of the company’s stock.

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.