Alpha Tau Medical (NASDAQ:DRTS) Trading 7.1% Higher – Here’s Why

Alpha Tau Medical Ltd. (NASDAQ:DRTS) shares rose 7.1% on Friday . The company traded as high as $12.53 and last traded at $12.7280. 196,591 shares were traded during trading, a decline of 67% from the average daily volume of 591,564 shares. The stock had previously closed at $11.88.

Analysts Set New Price Targets

DRTS has been the subject of several analyst reports. Zacks Research downgraded shares of Alpha Tau Medical from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 1st. HC Wainwright reiterated a “buy” rating and set a $15.00 price target on shares of Alpha Tau Medical in a report on Thursday. Barclays boosted their price objective on shares of Alpha Tau Medical from $15.00 to $17.00 and gave the stock an “overweight” rating in a research note on Thursday, June 4th. Piper Sandler increased their price objective on Alpha Tau Medical from $5.00 to $8.00 and gave the company a “neutral” rating in a report on Tuesday, May 19th. Finally, 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 report on Tuesday, May 12th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $12.60.

Alpha Tau Medical Price Performance

The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.79 and a current ratio of 7.79. The business has a 50 day moving average price of $10.83 and a 200-day moving average price of $8.42. The company 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 released its earnings results on Monday, May 18th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.13). Research analysts predict that Alpha Tau Medical Ltd. will post -0.67 EPS for the current fiscal year.

Insider Activity at Alpha Tau Medical

In other news, CFO Raphi Levy sold 2,270 shares of Alpha Tau Medical stock in a transaction on Monday, July 6th. The shares were sold at an average price of $14.00, for a total value of $31,780.00. Following the completion of the sale, the chief financial officer owned 90,180 shares in the company, valued at $1,262,520. The trade was a 2.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 112,270 shares of company stock worth $1,270,923. Company insiders own 39.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Daytona Street Capital LLC bought a new stake in Alpha Tau Medical in the fourth quarter valued at $749,000. Apella Capital LLC bought a new position in shares of Alpha Tau Medical during the 4th quarter worth about $1,892,000. Millennium Management LLC boosted its position in shares of Alpha Tau Medical by 185.7% during the 4th quarter. Millennium Management LLC now owns 107,815 shares of the company’s stock worth $534,000 after purchasing an additional 70,081 shares in the last quarter. Mariner LLC grew its stake 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 buying an additional 1,915 shares during the period. Finally, Wells Fargo & Company MN grew its stake in shares of 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 buying an additional 17,500 shares during the period. 2.65% of the stock is owned by 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.