Alpha Tau Medical (NASDAQ:DRTS) Reaches New 52-Week High - Here's Why

Key Points

• Alpha Tau Medical reached a new 52-week high, trading as high as $15.20 and last changing hands near $14.94, with a market capitalization of approximately $1.36 billion.
• Analyst sentiment remains mixed: five analysts rate the stock Buy, one Hold, and two Sell, producing a consensus Hold rating and an average price target of $15.40. Barclays raised its target to $30, while Zacks Research downgraded the shares to Strong Sell.
• The company reported a quarterly loss of $0.50 per share, missing the $0.14 consensus estimate, and insiders have sold more than 100,000 shares worth approximately $1.21 million over the past 90 days.

Alpha Tau Medical Ltd. (NASDAQ:DRTS - Get Free Report) reached a new 52-week high during trading on Wednesday . The stock traded as high as $15.20 and last traded at $14.9410, with a volume of 446149 shares. The stock had previously closed at $14.87.

Wall Street Analysts Forecast Growth

DRTS has been the topic of a number of analyst reports. Zacks Research lowered shares of Alpha Tau Medical from a "hold" rating to a "strong sell" rating in a report on Tuesday, September 1st. Piper Sandler increased their target price on Alpha Tau Medical from $5.00 to $8.00 and gave the company a "neutral" rating in a report on Tuesday, May 19th. Benchmark restated a "buy" rating on shares of Alpha Tau Medical in a research note on Thursday, July 23rd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Alpha Tau Medical in a report on Friday, July 17th. Finally, Barclays upped their price objective on Alpha Tau Medical from $17.00 to $30.00 and gave the stock an "overweight" rating in a research report on Thursday, September 3rd. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $15.40.

Alpha Tau Medical Stock Performance

The company has a current ratio of 11.09, a quick ratio of 7.79 and a debt-to-equity ratio of 0.15. The firm's fifty day moving average price is $13.60 and its 200-day moving average price is $10.49. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of -14.47 and a beta of 1.20.

Alpha Tau Medical (NASDAQ:DRTS - Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.50) earnings per share for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.36). Analysts expect that Alpha Tau Medical Ltd. will post -1.05 earnings per share for the current year.

Insider Buying and Selling at Alpha Tau Medical

In related news, CFO Raphi Levy sold 2,871 shares of the company's stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $15.00, for a total value of $43,065.00. Following the completion of the sale, the chief financial officer directly owned 90,180 shares of the company's stock, valued at $1,352,700. This represents a 3.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 100,371 shares of company stock valued at $1,210,233. 39.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC acquired a new stake in shares of Alpha Tau Medical in the first quarter valued at approximately $286,000. Everhart Financial Group Inc. acquired a new position in shares of Alpha Tau Medical in the 2nd quarter valued at $126,000. Finally, Principal Financial Group Inc. acquired a new position in shares of Alpha Tau Medical in the 1st quarter valued at $132,000. Institutional investors and hedge funds own 2.65% of the company's stock.

About Alpha Tau Medical

Alpha Tau Medical Ltd. is an Israel-based biotechnology and medical technology company developing targeted alpha radiation therapies for the treatment of solid tumors. Its lead technology, Alpha DaRT (Diffusing Alpha-emitters Radiation Therapy), is designed to deliver localized alpha radiation directly within a tumor while limiting exposure to surrounding healthy tissue.

Alpha DaRT uses radium-224 sources placed into or near a tumor. As the radium decays, its short-range alpha-emitting products are intended to diffuse through the tumor and destroy cancer cells.

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