Alpha Tau Medical (NASDAQ:DRTS) Stock Price Up 5.5% on Analyst Upgrade

Alpha Tau Medical Ltd. (NASDAQ:DRTS)’s stock price was up 5.5% on Tuesday after Piper Sandler raised their price target on the stock from $5.00 to $8.00. Piper Sandler currently has a neutral rating on the stock. Alpha Tau Medical traded as high as $10.40 and last traded at $10.5840. Approximately 126,066 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 445,166 shares. The stock had previously closed at $10.03.

Several other research firms have also commented on DRTS. HC Wainwright boosted their price target on shares of Alpha Tau Medical from $12.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Zacks Research upgraded shares of Alpha Tau Medical from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 17th. LADENBURG THALM/SH SH lifted their price objective on shares of Alpha Tau Medical from $12.00 to $14.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Citigroup boosted their price objective on shares of Alpha Tau Medical from $7.00 to $9.00 and gave the stock a “buy” rating in a research note on Wednesday, March 11th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Alpha Tau Medical in a report on Monday, April 20th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $11.50.

Institutional Trading of Alpha Tau Medical

A number of institutional investors have recently modified their holdings of DRTS. Apella Capital LLC purchased a new position in shares of Alpha Tau Medical in the 4th quarter worth approximately $1,892,000. Levin Capital Strategies L.P. lifted its position in Alpha Tau Medical by 6.3% during the third quarter. Levin Capital Strategies L.P. now owns 204,714 shares of the company’s stock valued at $923,000 after acquiring an additional 12,200 shares during the last quarter. Daytona Street Capital LLC acquired a new stake in Alpha Tau Medical in the fourth quarter valued at approximately $749,000. Mariner LLC boosted its stake in Alpha Tau Medical by 1.6% in the fourth quarter. Mariner LLC now owns 125,165 shares of the company’s stock valued at $620,000 after acquiring an additional 1,915 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in Alpha Tau Medical by 185.7% in the fourth 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 last quarter. 2.65% of the stock is currently owned by institutional investors.

Alpha Tau Medical Stock Up 4.2%

The company’s fifty day simple moving average is $7.70 and its 200-day simple moving average is $6.38. The firm has a market capitalization of $919.70 million, a PE ratio of -19.76 and a beta of 1.11. The company has a debt-to-equity ratio of 0.08, a current ratio of 7.45 and a quick ratio of 7.45.

Alpha Tau Medical (NASDAQ:DRTS) last issued its quarterly earnings data on Monday, May 18th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.13). On average, analysts forecast that Alpha Tau Medical Ltd. will post -0.5 EPS for the current year.

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.