Alpha Tau Medical (NASDAQ:DRTS) Stock Rating Upgraded by Zacks Research

Key Points

• Zacks Research upgraded Alpha Tau Medical from “strong sell” to “hold,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $12.60.
• Alpha Tau Medical shares opened at $13.08, near their 52-week high of $14.11. The company reported quarterly EPS of negative $0.26, missing the consensus estimate of negative $0.13.
• Insiders sold 112,270 shares worth approximately $1.27 million over the past 90 days, while institutional investors own only 2.65% of the stock.

Alpha Tau Medical (NASDAQ:DRTS - Get Free Report) was upgraded by equities researchers at Zacks Research from a "strong sell" rating to a "hold" rating in a research report issued on Monday,Zacks.com reports.

A number of other brokerages also recently issued reports on DRTS. Weiss Ratings restated a "sell (d-)" rating on shares of Alpha Tau Medical in a research report on Friday, July 17th. LADENBURG THALM/SH SH lifted their target price on Alpha Tau Medical from $12.00 to $14.00 and gave the stock a "buy" rating in a report on Tuesday, May 12th. HC Wainwright reissued a "buy" rating and set a $15.00 target price on shares of Alpha Tau Medical in a research report on Wednesday, July 22nd. Barclays raised their price target on Alpha Tau Medical from $15.00 to $17.00 and gave the stock an "overweight" rating in a research report on Thursday, June 4th. Finally, Benchmark reaffirmed a "buy" rating on shares of Alpha Tau Medical in a research report on Thursday, July 23rd. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $12.60.

Alpha Tau Medical Price Performance

Alpha Tau Medical stock opened at $13.08 on Monday. Alpha Tau Medical has a 52-week low of $2.98 and a 52-week high of $14.11. The company has a quick ratio of 7.79, a current ratio of 7.79 and a debt-to-equity ratio of 0.09. The firm's fifty day moving average is $11.33 and its 200 day moving average is $9.00. The company has a market cap of $1.18 billion, a price-to-earnings ratio of -19.52 and a beta of 1.17.

Alpha Tau Medical (NASDAQ:DRTS - Get Free Report) last issued 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). Sell-side analysts forecast that Alpha Tau Medical will post -0.67 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Raphi Levy sold 2,270 shares of Alpha Tau Medical stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $14.00, for a total value of $31,780.00. Following the sale, the chief financial officer directly owned 90,180 shares of the company's stock, valued at $1,262,520. The trade was a 2.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 112,270 shares of company stock worth $1,270,923. 39.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alpha Tau Medical

Several hedge funds and other institutional investors have recently made changes to their positions in DRTS. Apella Capital LLC purchased a new position in Alpha Tau Medical in the fourth quarter worth approximately $1,892,000. Mariner LLC grew its stake in shares of Alpha Tau Medical by 1.6% during the fourth quarter. Mariner LLC now owns 125,165 shares of the company's stock worth $620,000 after purchasing an additional 1,915 shares in the last quarter. Millennium Management LLC boosted its position 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 acquiring an additional 70,081 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Alpha Tau Medical in the 1st quarter valued at about $286,000. Finally, Wells Fargo & Company MN increased its stake in Alpha Tau Medical by 291.7% in the 4th quarter. Wells Fargo & Company MN now owns 23,500 shares of the company's stock valued at $116,000 after buying an additional 17,500 shares during the period. Institutional investors and hedge funds own 2.65% of the company's stock.

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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