Kovitz Investment Group Partners LLC Acquires 194,055 Shares of Alpha Tau Medical Ltd. $DRTS

Key Points

• Kovitz Investment Group Partners LLC increased its stake in Alpha Tau Medical Ltd. by 601.4% during the first quarter, owning 226,320 shares valued at approximately $568,000.
• HC Wainwright reaffirmed a "buy" rating for the stock with a target price of $9.00, aligning with the consensus rating of "Buy" among analysts.
• Alpha Tau Medical reported a quarterly loss of ($0.13) earnings per share, slightly missing analyst expectations, with projections indicating an annual loss of ($0.45 EPS).

Kovitz Investment Group Partners LLC raised its stake in Alpha Tau Medical Ltd. (NASDAQ:DRTS - Free Report) by 601.4% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 226,320 shares of the company's stock after buying an additional 194,055 shares during the quarter. Kovitz Investment Group Partners LLC owned approximately 0.32% of Alpha Tau Medical worth $568,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Renaissance Technologies LLC raised its position in Alpha Tau Medical by 188.7% in the fourth quarter. Renaissance Technologies LLC now owns 41,000 shares of the company's stock worth $127,000 after acquiring an additional 26,800 shares in the last quarter. Northern Trust Corp increased its stake in Alpha Tau Medical by 112.6% in the 4th quarter. Northern Trust Corp now owns 48,666 shares of the company's stock worth $151,000 after purchasing an additional 25,770 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in Alpha Tau Medical during the 1st quarter valued at about $53,000. 2.65% of the stock is currently owned by institutional investors.

Alpha Tau Medical Stock Performance

Shares of DRTS traded up $0.11 on Tuesday, reaching $3.32. 28,231 shares of the stock traded hands, compared to its average volume of 64,492. The stock's 50-day moving average price is $3.12 and its 200-day moving average price is $2.90. Alpha Tau Medical Ltd. has a 12 month low of $2.11 and a 12 month high of $4.39. The firm has a market cap of $281.60 million, a price-to-earnings ratio of -6.92 and a beta of 0.99. The company has a debt-to-equity ratio of 0.07, a current ratio of 10.52 and a quick ratio of 5.81.

Alpha Tau Medical (NASDAQ:DRTS - Get Free Report) last announced its quarterly earnings results on Monday, August 11th. The company reported ($0.13) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.01). Equities analysts forecast that Alpha Tau Medical Ltd. will post -0.45 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a "buy" rating and set a $9.00 target price on shares of Alpha Tau Medical in a research note on Tuesday, April 29th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $9.00.

Alpha Tau Medical Company Profile

Alpha Tau Medical Ltd., a clinical-stage oncology therapeutics company, engages in research, development, and commercialization of diffusing alpha-emitters radiation therapy (Alpha DaRT) for the treatment of solid cancer In Israel and the United States. Its Alpha-DaRT technology used in clinical trials for skin, oral, pancreatic, prostate, and breast cancers; and preclinical studies for brain, hepatic cell carcinoma, glioblastoma multiforme, lung cancer, and others.