Alpha Tau Medical (NASDAQ:DRTS) Sets New 1-Year High - Here's What Happened

Key Points

• Alpha Tau Medical shares reached a new 52-week high, trading as high as $14.79 and last changing hands at $14.75, up from the prior close of $14.36.
• Analyst sentiment is generally positive: five analysts rate the stock Buy, two Hold, and one Sell, producing a consensus “Moderate Buy” rating and an average price target of $12.80. Several firms recently raised their targets to between $16 and $17.
• The company reported a wider-than-expected quarterly loss of $0.50 per share and revenue of $0.10 million, below estimates. Insiders sold 130,000 shares worth about $1.52 million over the past 90 days, while insiders retain a 39.5% ownership stake.

Alpha Tau Medical Ltd. (NASDAQ:DRTS - Get Free Report) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $14.79 and last traded at $14.75, with a volume of 46145 shares changing hands. The stock had previously closed at $14.36.

Analysts Set New Price Targets

A number of analysts have commented on DRTS shares. HC Wainwright lifted their price target on Alpha Tau Medical from $15.00 to $16.00 and gave the stock a "buy" rating in a research report on Tuesday, August 11th. Zacks Research raised Alpha Tau Medical from a "strong sell" rating to a "hold" rating in a report on Monday, August 3rd. Barclays raised their price objective on Alpha Tau Medical from $15.00 to $17.00 and gave the stock an "overweight" rating in a research note on Thursday, June 4th. Piper Sandler lifted their target price on Alpha Tau Medical from $5.00 to $8.00 and gave the stock a "neutral" rating in a report on Tuesday, May 19th. Finally, Benchmark reiterated a "buy" rating on shares of Alpha Tau Medical in a research report on Thursday, July 23rd. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $12.80.

Alpha Tau Medical Price Performance

The stock has a market cap of $1.34 billion, a price-to-earnings ratio of -14.22 and a beta of 1.17. The stock's 50 day moving average price is $12.33 and its two-hundred day moving average price is $9.57. The company has a quick ratio of 7.79, a current ratio of 11.09 and a debt-to-equity ratio of 0.15.

Alpha Tau Medical (NASDAQ:DRTS - Get Free Report) last issued its earnings results on Monday, August 10th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.36). The company had revenue of $0.10 million for the quarter, compared to analysts' expectations of $0.14 million. Equities research analysts forecast that Alpha Tau Medical Ltd. will post -0.92 EPS for the current fiscal year.

Insider Buying and Selling at Alpha Tau Medical

In other Alpha Tau Medical news, CFO Raphi Levy sold 32,500 shares of Alpha Tau Medical stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $10.83, for a total transaction of $351,975.00. Following the completion of the transaction, the chief financial officer owned 147,680 shares in the company, valued at approximately $1,599,374.40. This trade represents a 18.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders sold 130,000 shares of company stock worth $1,519,143. Company insiders own 39.50% of the company's stock.

Institutional Trading of Alpha Tau Medical

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Trifecta Capital Advisors LLC purchased a new position in Alpha Tau Medical during the fourth quarter valued at approximately $48,000. Envestnet Asset Management Inc. acquired a new stake in shares of Alpha Tau Medical during the 3rd quarter worth approximately $62,000. Bank of America Corp DE grew its stake in shares of Alpha Tau Medical by 2,779.1% during the 3rd quarter. Bank of America Corp DE now owns 22,457 shares of the company's stock worth $101,000 after purchasing an additional 21,677 shares during the period. Wells Fargo & Company MN grew its stake in shares of 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 purchasing an additional 17,500 shares during the period. Finally, Everhart Financial Group Inc. purchased a new position in shares of Alpha Tau Medical during the 2nd quarter valued at approximately $126,000. 2.65% of the stock is 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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