Alpha Tau Medical (NASDAQ:DRTS) Shares Gap Up - Still a Buy?

Key Points

• Alpha Tau Medical gapped up premarket to $9.01 from $8.54 but later last traded at $8.27 (the article notes it was trading down about 9.2%) on roughly 410,287 shares.
• Analyst sentiment is mixed — two Buy, two Hold and one Sell — giving an average rating of "Hold" and an average price target of $8.67, with individual targets ranging from about $5 to $12.
• The company reported a quarterly EPS of -$0.14 (vs. -$0.13 estimate), has strong liquidity (current and quick ratios of 7.45), low debt-to-equity (0.08), a market cap near $657.8M and a negative P/E.

Alpha Tau Medical Ltd. (NASDAQ:DRTS - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $8.54, but opened at $9.01. Alpha Tau Medical shares last traded at $8.27, with a volume of 410,287 shares trading hands.

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Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. HC Wainwright reissued a "buy" rating and issued a $12.00 price target on shares of Alpha Tau Medical in a research report on Tuesday, March 10th. Citigroup lifted their price target on shares of Alpha Tau Medical from $7.00 to $9.00 and gave the company a "buy" rating in a research report on Wednesday, March 11th. Zacks Research raised shares of Alpha Tau Medical from a "strong sell" rating to a "hold" rating in a research report on Tuesday, February 17th. Weiss Ratings reissued a "sell (d-)" rating on shares of Alpha Tau Medical in a research report on Monday, April 20th. Finally, Piper Sandler reissued a "neutral" rating and issued a $5.00 price target on shares of Alpha Tau Medical in a research report on Wednesday, March 4th. Two 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. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $8.67.

Alpha Tau Medical Trading Down 9.2%

The company has a debt-to-equity ratio of 0.08, a quick ratio of 7.45 and a current ratio of 7.45. The firm has a 50 day simple moving average of $7.36 and a two-hundred day simple moving average of $6.02. The firm has a market capitalization of $657.78 million, a P/E ratio of -14.63 and a beta of 1.11.

Alpha Tau Medical (NASDAQ:DRTS - Get Free Report) last issued its quarterly earnings data on Monday, March 9th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.01). Equities research analysts forecast that Alpha Tau Medical Ltd. will post -0.5 earnings per share for the current year.

Institutional Investors Weigh In On Alpha Tau Medical

A number of hedge funds have recently made changes to their positions in the business. Apella Capital LLC bought a new stake in shares of Alpha Tau Medical during the 4th quarter worth $1,892,000. Levin Capital Strategies L.P. raised its stake in shares of Alpha Tau Medical by 6.3% during the 3rd quarter. Levin Capital Strategies L.P. now owns 204,714 shares of the company's stock worth $923,000 after purchasing an additional 12,200 shares during the period. Daytona Street Capital LLC bought a new stake in shares of Alpha Tau Medical during the 4th quarter worth $749,000. Mariner LLC raised its stake in shares of 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 period. Finally, Millennium Management LLC raised its stake in shares of Alpha Tau Medical by 185.7% during the 4th quarter. Millennium Management LLC now owns 107,815 shares of the company's stock worth $534,000 after purchasing an additional 70,081 shares during the period. 2.65% of the stock is currently owned by institutional investors.

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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