Alpha Tau Medical (NASDAQ:DRTS) Given “Buy” Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of Alpha Tau Medical (NASDAQ:DRTS) in a research note issued to investors on Thursday morning,Benzinga reports. The firm currently has a $15.00 price target on the stock.

DRTS has been the topic of a number of other research reports. Barclays increased their price objective on shares of Alpha Tau Medical from $15.00 to $17.00 and gave the stock an “overweight” rating in a report on Thursday, June 4th. LADENBURG THALM/SH SH upped their target price on shares of 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 increased their price target on shares of Alpha Tau Medical from $5.00 to $8.00 and gave the company a “neutral” rating in a research note on Tuesday, May 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of Alpha Tau Medical in a report on Monday, April 20th. Finally, Zacks Research cut shares of Alpha Tau Medical from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 1st. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Alpha Tau Medical has a consensus rating of “Hold” and a consensus price target of $12.60.

Alpha Tau Medical Stock Down 4.7%

Alpha Tau Medical stock opened at $11.88 on Thursday. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of -17.73 and a beta of 1.17. The firm has a fifty day moving average price of $10.73 and a two-hundred day moving average price of $8.39. Alpha Tau Medical has a fifty-two week low of $2.87 and a fifty-two week high of $14.11. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.79 and a quick ratio of 7.79.

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

Insider Transactions at Alpha Tau Medical

In other news, CFO Raphi Levy sold 2,270 shares of the company’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $14.00, for a total value of $31,780.00. Following the sale, the chief financial officer directly owned 90,180 shares of the company’s stock, valued at approximately $1,262,520. This represents a 2.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 112,270 shares of company stock worth $1,270,923 over the last 90 days. Corporate insiders own 39.50% of the company’s stock.

Institutional Investors Weigh In On Alpha Tau Medical

Hedge funds have recently added to or reduced their stakes in the business. Mariner LLC lifted its holdings in 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 purchasing an additional 1,915 shares during the last quarter. Trifecta Capital Advisors LLC bought a new stake in shares of Alpha Tau Medical in the fourth quarter valued at about $48,000. Everhart Financial Group Inc. acquired a new position in shares of Alpha Tau Medical in the second quarter valued at about $126,000. Envestnet Asset Management Inc. acquired a new position in shares of Alpha Tau Medical in the third quarter valued at about $62,000. Finally, Wells Fargo & Company MN increased its position in 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.

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.