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

Key Points

• HC Wainwright reiterated a “buy” rating on Alpha Tau Medical and set a $15 price target, implying about 21% upside from the prior close.
• The stock has a mixed analyst backdrop: MarketBeat says the consensus rating is Hold with a $12.60 average price target, while recent calls have ranged from bullish to bearish.
• Alpha Tau Medical recently reported a larger-than-expected quarterly loss of ($0.26) EPS versus an expected ($0.13), and the company’s lead therapy Alpha DaRT is still in clinical studies for several solid tumors.

Alpha Tau Medical (NASDAQ:DRTS - Get Free Report)'s stock had its "buy" rating reiterated by equities researchers at HC Wainwright in a research note issued on Thursday,Benzinga reports. They currently have a $15.00 price objective on the stock. HC Wainwright's target price points to a potential upside of 21.11% from the company's previous close.

DRTS has been the topic of several other research reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Alpha Tau Medical in a research report on Monday, April 20th. 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. LADENBURG THALM/SH SH raised their price target on shares of Alpha Tau Medical from $12.00 to $14.00 and gave the company a "buy" rating in a report on Tuesday, May 12th. Zacks Research downgraded Alpha Tau Medical from a "hold" rating to a "strong sell" rating in a report on Wednesday, July 1st. Finally, Barclays increased their price objective on Alpha Tau Medical from $15.00 to $17.00 and gave the company an "overweight" rating in a research report on Thursday, June 4th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $12.60.

Alpha Tau Medical Price Performance

DRTS stock traded down $0.07 during midday trading on Thursday, reaching $12.38. 102,260 shares of the company's stock traded hands, compared to its average volume of 589,981. The company has a 50-day simple moving average of $10.65 and a two-hundred day simple moving average of $8.34. The company has a quick ratio of 7.79, a current ratio of 7.79 and a debt-to-equity ratio of 0.09. Alpha Tau Medical has a 1-year low of $2.87 and a 1-year high of $14.11. The company has a market cap of $1.12 billion, a price-to-earnings ratio of -18.42 and a beta of 1.17.

Alpha Tau Medical (NASDAQ:DRTS - Get Free Report) last posted its quarterly earnings data on Monday, May 18th. The company reported ($0.26) EPS for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.13). On average, analysts anticipate that Alpha Tau Medical will post -0.67 earnings per share for the current year.

Insider Activity at Alpha Tau Medical

In related news, CFO Raphi Levy sold 2,270 shares of the company's stock in a transaction dated Monday, July 6th. The stock was 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 approximately $1,262,520. This represents a 2.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 112,270 shares of company stock worth $1,270,923 over the last ninety days. 39.50% of the stock is owned by insiders.

Institutional Trading of Alpha Tau Medical

Hedge funds have recently modified their holdings of the company. Mariner LLC increased its stake in 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 purchasing an additional 1,915 shares in the last quarter. Trifecta Capital Advisors LLC acquired a new position in shares of Alpha Tau Medical in the 4th quarter valued at $48,000. Everhart Financial Group Inc. bought a new stake in shares of Alpha Tau Medical in the 2nd quarter valued at $126,000. Envestnet Asset Management Inc. bought a new stake in shares of Alpha Tau Medical in the 3rd quarter valued at $62,000. Finally, Wells Fargo & Company MN raised its stake 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 worth $116,000 after buying an additional 17,500 shares during the period. 2.65% of the stock is currently owned by institutional investors and hedge funds.

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.

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