Alpha Tau Medical (NASDAQ:DRTS) Sees Strong Trading Volume – Still a Buy?

Shares of Alpha Tau Medical Ltd. (NASDAQ:DRTS) saw unusually-strong trading volume on Monday . Approximately 527,329 shares traded hands during mid-day trading, an increase of 8% from the previous session’s volume of 486,429 shares.The stock last traded at $10.04 and had previously closed at $10.83.

Analysts Set New Price Targets

A number of equities analysts have recently commented on DRTS shares. HC Wainwright reaffirmed a “buy” rating and issued a $15.00 price target on shares of Alpha Tau Medical in a report on Wednesday, May 20th. Zacks Research raised Alpha Tau Medical from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 17th. Citigroup raised their price target on Alpha Tau Medical from $7.00 to $9.00 and gave the stock a “buy” rating in a report on Wednesday, March 11th. LADENBURG THALM/SH SH increased their price objective on Alpha Tau Medical from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Finally, Barclays assumed coverage on Alpha Tau Medical in a research report on Thursday. They issued an “overweight” rating and a $15.00 price objective on the stock. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $12.20.

Alpha Tau Medical Stock Down 11.9%

The stock has a 50-day simple moving average of $8.33 and a two-hundred day simple moving average of $6.79. 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 has a market cap of $862.20 million, a PE ratio of -14.25 and a beta of 1.19.

Alpha Tau Medical (NASDAQ:DRTS) last released its quarterly earnings results on Monday, May 18th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.13). Analysts expect that Alpha Tau Medical Ltd. will post -0.6 earnings per share for the current year.

Institutional Investors Weigh In On Alpha Tau Medical

A number of large investors have recently added to or reduced their stakes in DRTS. Apella Capital LLC purchased a new stake in Alpha Tau Medical during the fourth quarter valued at about $1,892,000. Daytona Street Capital LLC purchased a new stake in Alpha Tau Medical during the fourth quarter valued at about $749,000. Mariner LLC raised its position in Alpha Tau Medical by 185.8% during the third quarter. Mariner LLC now owns 123,250 shares of the company’s stock valued at $556,000 after purchasing an additional 80,129 shares in the last quarter. Millennium Management LLC raised its position in Alpha Tau Medical by 185.7% during the fourth quarter. Millennium Management LLC now owns 107,815 shares of the company’s stock valued at $534,000 after purchasing an additional 70,081 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in Alpha Tau Medical during the first quarter valued at about $286,000. Hedge funds and other institutional investors 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.