Alpha Tau Medical (NASDAQ:DRTS) Hits New 12-Month High Following Analyst Upgrade

Key Points

• Alpha Tau Medical shares reached a new 52-week high after HC Wainwright raised its price target from $15 to $16 and maintained a Buy rating. The stock traded as high as $14.11, while analysts collectively rate it “Moderate Buy” with an average target of $12.80.
• Analyst opinions remain mixed: five firms rate the stock Buy, two Hold, and one Sell. Recent targets range from $8 at Piper Sandler to $17 at Barclays.
• The company reported a quarterly loss of $0.50 per share, missing the $0.14 consensus estimate. Insiders sold 112,270 shares worth about $1.27 million during the last quarter, while institutional investors own just 2.65% of the stock.

Alpha Tau Medical Ltd. (NASDAQ:DRTS - Get Free Report)'s share price reached a new 52-week high during trading on Tuesday after HC Wainwright raised their price target on the stock from $15.00 to $16.00. HC Wainwright currently has a buy rating on the stock. Alpha Tau Medical traded as high as $14.11 and last traded at $13.8140, with a volume of 457235 shares changing hands. The stock had previously closed at $13.60.

Several other research firms also recently issued reports on DRTS. Piper Sandler boosted their price objective on Alpha Tau Medical from $5.00 to $8.00 and gave the stock a "neutral" rating in a report on Tuesday, May 19th. Weiss Ratings restated a "sell (d-)" rating on shares of Alpha Tau Medical in a report on Friday, July 17th. Benchmark reaffirmed a "buy" rating on shares of Alpha Tau Medical in a research note on Thursday, July 23rd. LADENBURG THALM/SH SH lifted their price objective 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. Finally, Barclays boosted their target price on shares of Alpha Tau Medical from $15.00 to $17.00 and gave the company an "overweight" rating in a research note on Thursday, June 4th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $12.80.

Insider Activity

In related news, CFO Raphi Levy sold 2,270 shares of the stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $14.00, for a total transaction 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. This trade represents a 2.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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 in the last quarter. Insiders own 39.50% of the company's stock.

Institutional Trading of Alpha Tau Medical

A number of institutional investors and hedge funds have recently modified their holdings of DRTS. Trifecta Capital Advisors LLC bought a new stake in Alpha Tau Medical in the 4th quarter valued at approximately $48,000. Envestnet Asset Management Inc. acquired a new stake in shares of Alpha Tau Medical in the third quarter valued at about $62,000. Bank of America Corp DE raised its holdings in Alpha Tau Medical by 2,779.1% during the third quarter. Bank of America Corp DE now owns 22,457 shares of the company's stock worth $101,000 after acquiring an additional 21,677 shares in the last quarter. Wells Fargo & Company MN boosted 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 valued at $116,000 after purchasing an additional 17,500 shares during the last quarter. Finally, Everhart Financial Group Inc. bought a new stake in Alpha Tau Medical during the second quarter worth $126,000. 2.65% of the stock is owned by institutional investors.

Alpha Tau Medical Stock 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 company has a market capitalization of $1.25 billion, a P/E ratio of -20.63 and a beta of 1.17. The stock's fifty day moving average price is $11.57 and its 200-day moving average price is $9.17.

Alpha Tau Medical (NASDAQ:DRTS - Get Free Report) last posted its earnings results on Monday, August 10th. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.36). As a group, research analysts anticipate that Alpha Tau Medical Ltd. will post -0.67 EPS for the current fiscal year.

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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