Alpha Tau Medical (NASDAQ:DRTS) Cut to Strong Sell at Zacks Research

Zacks Research downgraded shares of Alpha Tau Medical (NASDAQ:DRTS) from a hold rating to a strong sell rating in a report published on Monday,Zacks.com reports.

Several other brokerages also recently issued reports on DRTS. HC Wainwright restated a “buy” rating on shares of Alpha Tau Medical in a research note 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 decreased their price target on shares of Alpha Tau Medical from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, December 10th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alpha Tau Medical in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $8.00.

Alpha Tau Medical Stock Performance

NASDAQ DRTS opened at $6.49 on Monday. Alpha Tau Medical has a twelve month low of $2.30 and a twelve month high of $7.89. The stock has a market capitalization of $550.48 million, a PE ratio of -12.48 and a beta of 1.04. The stock has a 50-day simple moving average of $4.99 and a 200 day simple moving average of $4.10.

Alpha Tau Medical (NASDAQ:DRTS) last released its earnings results on Thursday, November 20th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.02). As a group, equities research analysts forecast that Alpha Tau Medical will post -0.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Daytona Street Capital LLC acquired a new stake in Alpha Tau Medical during the fourth quarter valued at approximately $749,000. Envestnet Asset Management Inc. acquired a new position in shares of Alpha Tau Medical in the 3rd quarter worth approximately $62,000. Bank of America Corp DE lifted its position 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 buying an additional 21,677 shares during the period. Millennium Management LLC bought a new position in shares of Alpha Tau Medical during the 3rd quarter worth approximately $170,000. Finally, Mariner LLC boosted its stake in Alpha Tau Medical by 185.8% in 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 in 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.