Piper Sandler Reaffirms Neutral Rating for Alpha Tau Medical (NASDAQ:DRTS)

Alpha Tau Medical (NASDAQ:DRTS)‘s stock had its “neutral” rating reissued by equities research analysts at Piper Sandler in a research report issued to clients and investors on Wednesday, Marketbeat.com reports. They currently have a $5.00 price target on the stock. Piper Sandler’s price target would suggest a potential downside of 29.78% from the stock’s current price.

A number of other analysts also recently issued reports on DRTS. Weiss Ratings reissued a “sell (d-)” rating on shares of Alpha Tau Medical in a research report on Wednesday, January 21st. Zacks Research upgraded shares of Alpha Tau Medical from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 17th. HC Wainwright reiterated a “buy” rating on shares of Alpha Tau Medical in a report on Wednesday, December 10th. Finally, Citigroup dropped their target price on shares of Alpha Tau Medical from $8.00 to $7.00 and set a “buy” rating for the company in a report on Wednesday, December 10th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $7.00.

Alpha Tau Medical Trading Up 1.4%

DRTS stock opened at $7.12 on Wednesday. The firm has a 50-day moving average of $6.88 and a two-hundred day moving average of $5.00. Alpha Tau Medical has a 12 month low of $2.30 and a 12 month high of $8.60. The company has a market cap of $603.92 million, a price-to-earnings ratio of -13.69 and a beta of 1.02.

Institutional Investors Weigh In On Alpha Tau Medical

Hedge funds have recently made changes to their positions in the business. Mariner LLC lifted its holdings in shares of Alpha Tau Medical by 1.6% during the fourth quarter. Mariner LLC now owns 125,165 shares of the company’s stock worth $620,000 after purchasing an additional 1,915 shares during the period. Trifecta Capital Advisors LLC acquired a new stake in shares of Alpha Tau Medical in the 4th quarter worth $48,000. Levin Capital Strategies L.P. lifted its stake 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 worth $923,000 after acquiring an additional 12,200 shares during the period. Envestnet Asset Management Inc. purchased a new stake in shares of Alpha Tau Medical in the third quarter valued at about $62,000. Finally, Wells Fargo & Company MN increased its stake in shares of Alpha Tau Medical by 291.7% during 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 during the period. Institutional investors and hedge funds 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.