Alpha Tau Medical Ltd. (NASDAQ:DRTS) Receives $7.00 Average PT from Analysts

Alpha Tau Medical Ltd. (NASDAQ:DRTS) has earned a consensus rating of “Hold” from the five brokerages that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $7.00.

Several equities research analysts recently weighed in on the company. Zacks Research raised Alpha Tau Medical from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 17th. HC Wainwright reissued a “buy” rating on shares of Alpha Tau Medical in a research note on Wednesday, December 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Alpha Tau Medical in a research report on Wednesday, January 21st. Citigroup lowered their target price on shares of Alpha Tau Medical from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, December 10th. Finally, Piper Sandler reissued a “neutral” rating and set a $5.00 price target on shares of Alpha Tau Medical in a report on Wednesday.

Alpha Tau Medical Trading Down 10.0%

Shares of DRTS stock opened at $6.41 on Wednesday. The company has a market capitalization of $543.70 million, a P/E ratio of -12.33 and a beta of 1.02. The business’s 50 day moving average is $6.90 and its two-hundred day moving average is $5.02. Alpha Tau Medical has a twelve month low of $2.30 and a twelve month high of $8.60.

Hedge Funds Weigh In On Alpha Tau Medical

A number of large investors have recently modified their holdings of the business. Mariner LLC increased its position in shares of Alpha Tau Medical by 1.6% in the fourth quarter. Mariner LLC now owns 125,165 shares of the company’s stock valued at $620,000 after buying an additional 1,915 shares in the last quarter. Trifecta Capital Advisors LLC purchased a new stake in shares of Alpha Tau Medical in the 4th quarter worth about $48,000. Levin Capital Strategies L.P. grew its stake in 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 valued at $923,000 after acquiring an additional 12,200 shares during the last quarter. Envestnet Asset Management Inc. purchased a new position in Alpha Tau Medical during the 3rd quarter valued at about $62,000. Finally, Wells Fargo & Company MN increased its holdings in Alpha Tau Medical by 291.7% during 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 in the last quarter. 2.65% of the stock is owned by hedge funds and other 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.