Alpha Tau Medical (NASDAQ:DRTS) Upgraded at Zacks Research

Zacks Research upgraded shares of Alpha Tau Medical (NASDAQ:DRTS) from a strong sell rating to a hold rating in a research report released on Tuesday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on the company. Citigroup lowered their price target on 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. HC Wainwright reissued a “buy” rating on shares of Alpha Tau Medical in a research report on Wednesday, December 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alpha Tau Medical in a research report on Wednesday, January 21st. Finally, Wall Street Zen upgraded shares of Alpha Tau Medical to a “sell” rating in a research report on Saturday, November 1st. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Alpha Tau Medical currently has a consensus rating of “Hold” and an average price target of $8.00.

Alpha Tau Medical Price Performance

DRTS stock opened at $7.24 on Tuesday. The company’s 50-day moving average is $6.39 and its 200-day moving average is $4.70. Alpha Tau Medical has a 1 year low of $2.30 and a 1 year high of $7.89. The stock has a market capitalization of $614.10 million, a PE ratio of -13.92 and a beta of 1.05.

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

Institutional Investors Weigh In On Alpha Tau Medical

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Trifecta Capital Advisors LLC bought a new position in Alpha Tau Medical in the fourth quarter worth approximately $48,000. Envestnet Asset Management Inc. acquired a new position in Alpha Tau Medical in the third quarter valued at approximately $62,000. Bank of America Corp DE boosted 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 in the last quarter. Wells Fargo & Company MN grew its stake in Alpha Tau Medical by 291.7% in the 4th quarter. Wells Fargo & Company MN now owns 23,500 shares of the company’s stock valued at $116,000 after acquiring an additional 17,500 shares during the period. Finally, Millennium Management LLC purchased a new stake in Alpha Tau Medical during the 3rd quarter worth approximately $170,000. 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.