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

Key Points

• Alpha Tau Medical shares reached a new 52-week high of $15.11, up from a previous close of $14.62, giving the company a market capitalization of approximately $1.35 billion.
• Analyst sentiment is mixed: five analysts rate the stock a Buy, one rates it Hold, and two rate it Sell. The consensus rating is Hold, with an average price target of $15.40.
• The company reported a quarterly loss of $0.50 per share, missing the $0.14 consensus estimate, while insiders have sold 100,371 shares worth approximately $1.21 million over the past quarter.

Alpha Tau Medical Ltd. (NASDAQ:DRTS - Get Free Report) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $15.11 and last traded at $15.0750, with a volume of 355484 shares. The stock had previously closed at $14.62.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Piper Sandler increased their price target on shares of Alpha Tau Medical from $5.00 to $8.00 and gave the company a "neutral" rating in a research note on Tuesday, May 19th. Zacks Research cut shares of Alpha Tau Medical from a "hold" rating to a "strong sell" rating in a research note on Tuesday. HC Wainwright upped their price objective on shares of Alpha Tau Medical from $15.00 to $16.00 and gave the stock a "buy" rating in a research report on Tuesday, August 11th. Benchmark restated a "buy" rating on shares of Alpha Tau Medical in a research report on Thursday, July 23rd. Finally, LADENBURG THALM/SH SH boosted their target price on Alpha Tau Medical from $12.00 to $14.00 and gave the company a "buy" rating in a research note on Tuesday, May 12th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $15.40.

Alpha Tau Medical Price Performance

The business's 50-day moving average price is $13.26 and its 200 day moving average price is $10.09. The company has a quick ratio of 7.79, a current ratio of 11.09 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $1.35 billion, a P/E ratio of -14.42 and a beta of 1.20.

Alpha Tau Medical (NASDAQ:DRTS - Get Free Report) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.50) EPS for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.36). Analysts anticipate that Alpha Tau Medical Ltd. will post -0.92 EPS for the current fiscal year.

Insiders Place Their Bets

In other Alpha Tau Medical news, CFO Raphi Levy sold 2,871 shares of Alpha Tau Medical stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $15.00, for a total transaction of $43,065.00. Following the completion of the sale, the chief financial officer directly owned 90,180 shares in the company, valued at $1,352,700. The trade was a 3.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 100,371 shares of company stock valued at $1,210,233 over the last quarter. Company insiders own 39.50% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of DRTS. Renaissance Technologies LLC purchased a new position in shares of Alpha Tau Medical in the first quarter worth about $286,000. Millennium Management LLC boosted its position in Alpha Tau Medical by 185.7% during the 4th quarter. Millennium Management LLC now owns 107,815 shares of the company's stock valued at $534,000 after acquiring an additional 70,081 shares in the last quarter. Mariner LLC increased its holdings 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 purchasing an additional 1,915 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Alpha Tau Medical by 291.7% during the fourth quarter. Wells Fargo & Company MN now owns 23,500 shares of the company's stock valued at $116,000 after purchasing an additional 17,500 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of Alpha Tau Medical by 2,779.1% in the 3rd quarter. Bank of America Corp DE now owns 22,457 shares of the company's stock worth $101,000 after buying an additional 21,677 shares during the last quarter. 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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