Alpha Tau Medical (NASDAQ:DRTS) Sets New 52-Week High - Time to Buy?

Key Points

• Alpha Tau Medical shares hit a new 52-week high, reaching $9.90 intraday and last trading near $9.98, up about 19.8% on heavy volume.
• Analyst sentiment is mixed: the stock currently has a Hold consensus rating, with price targets ranging from $5.00 to $12.00 and an average target of $8.67.
• The company remains a speculative medical tech play, reporting a recent quarterly EPS miss and posting negative earnings, while its lead Alpha DaRT therapy continues to be tested in clinical studies for solid tumors.

Alpha Tau Medical Ltd. (NASDAQ:DRTS - Get Free Report) shares reached a new 52-week high during trading on Monday . The stock traded as high as $9.90 and last traded at $9.9750, with a volume of 1997160 shares changing hands. The stock had previously closed at $8.51.

Wall Street Analyst Weigh In

Several research firms have commented on DRTS. Piper Sandler reaffirmed a "neutral" rating and set a $5.00 price objective on shares of Alpha Tau Medical in a research note on Wednesday, March 4th. HC Wainwright reaffirmed a "buy" rating and set a $12.00 price objective on shares of Alpha Tau Medical in a research note on Tuesday, March 10th. Citigroup upped their price objective on Alpha Tau Medical from $7.00 to $9.00 and gave the company a "buy" rating in a research note on Wednesday, March 11th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Alpha Tau Medical in a research note on Monday, April 20th. Finally, Zacks Research upgraded Alpha Tau Medical from a "strong sell" rating to a "hold" rating in a research report on Tuesday, February 17th. Two equities 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's stock. Based on data from MarketBeat.com, Alpha Tau Medical presently has a consensus rating of "Hold" and an average target price of $8.67.

Alpha Tau Medical Trading Up 19.8%

The business has a fifty day simple moving average of $7.38 and a 200 day simple moving average of $6.10. The stock has a market cap of $897.35 million, a price-to-earnings ratio of -19.28 and a beta of 1.11. The company has a debt-to-equity ratio of 0.08, a quick ratio of 7.45 and a current ratio of 7.45.

Alpha Tau Medical (NASDAQ:DRTS - Get Free Report) last announced its earnings results on Monday, March 9th. The company reported ($0.14) EPS for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.01). As a group, equities analysts anticipate that Alpha Tau Medical Ltd. will post -0.5 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Mariner LLC raised its position in shares of Alpha Tau Medical by 1.6% in the 4th quarter. Mariner LLC now owns 125,165 shares of the company's stock worth $620,000 after buying an additional 1,915 shares during the period. Trifecta Capital Advisors LLC purchased a new position in shares of Alpha Tau Medical in the 4th quarter worth $48,000. Levin Capital Strategies L.P. raised its position in shares of 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 worth $923,000 after buying an additional 12,200 shares during the period. Envestnet Asset Management Inc. purchased a new position in shares of Alpha Tau Medical in the 3rd quarter worth $62,000. Finally, Wells Fargo & Company MN raised its position in shares of Alpha Tau Medical by 291.7% in 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 owned by hedge funds and other institutional investors.

Alpha Tau Medical Company Profile

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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