Alpha Tau Medical (NASDAQ:DRTS) Receives Buy Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Alpha Tau Medical (NASDAQ:DRTS) in a report issued on Wednesday morning,Benzinga reports. The firm currently has a $15.00 target price on the stock.

DRTS has been the subject of a number of other reports. LADENBURG THALM/SH SH lifted their price objective 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. Piper Sandler upped their price objective on shares of Alpha Tau Medical from $5.00 to $8.00 and gave the company a “neutral” rating in a research report on Tuesday, May 19th. Zacks Research cut Alpha Tau Medical from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 1st. Barclays increased their target price on Alpha Tau Medical from $15.00 to $17.00 and gave the stock an “overweight” rating in a report on Thursday, June 4th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Alpha Tau Medical in a report on Friday, July 17th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Alpha Tau Medical has a consensus rating of “Hold” and an average target price of $12.60.

Alpha Tau Medical Stock Performance

NASDAQ DRTS opened at $13.01 on Wednesday. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of -19.42 and a beta of 1.17. Alpha Tau Medical has a 1-year low of $2.87 and a 1-year high of $14.11. The company has a 50 day moving average of $11.03 and a 200-day moving average of $8.62. The company has a current ratio of 7.79, a quick ratio of 7.79 and a debt-to-equity ratio of 0.09.

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

Insider Buying and Selling at Alpha Tau Medical

In related news, CFO Raphi Levy sold 32,500 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $10.83, for a total value of $351,975.00. Following the sale, the chief financial officer owned 147,680 shares in the company, valued at approximately $1,599,374.40. This represents a 18.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders sold 112,270 shares of company stock worth $1,270,923. 39.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alpha Tau Medical

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DRTS. Apella Capital LLC acquired a new position in shares of Alpha Tau Medical in the fourth quarter valued at $1,892,000. Daytona Street Capital LLC acquired a new stake in shares of Alpha Tau Medical during the 4th quarter worth about $749,000. Mariner LLC lifted its stake in shares of Alpha Tau Medical by 1.6% during the 4th quarter. Mariner LLC now owns 125,165 shares of the company’s stock worth $620,000 after buying an additional 1,915 shares during the last quarter. Millennium Management LLC boosted its holdings 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 buying an additional 70,081 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in shares of Alpha Tau Medical during the 1st quarter worth about $286,000. 2.65% of the stock is owned by institutional investors.

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.