Alpha Tau Medical (NASDAQ:DRTS) Reaches New 1-Year High – Still a Buy?

Shares of Alpha Tau Medical Ltd. (NASDAQ:DRTS) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $13.80 and last traded at $13.6820, with a volume of 20522 shares traded. The stock had previously closed at $13.23.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Citigroup increased their price target on Alpha Tau Medical from $7.00 to $9.00 and gave the stock a “buy” rating in a research note on Wednesday, March 11th. 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 research note on Tuesday, May 12th. HC Wainwright reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Alpha Tau Medical in a report on Tuesday, June 2nd. Zacks Research lowered shares of Alpha Tau Medical from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 1st. Finally, Piper Sandler raised their target price 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. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $12.60.

Alpha Tau Medical Stock Up 2.4%

The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.79 and a current ratio of 7.79. The stock’s fifty day simple moving average is $9.85 and its two-hundred day simple moving average is $7.91. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of -20.39 and a beta of 1.17.

Alpha Tau Medical (NASDAQ:DRTS) last released its earnings results on Monday, May 18th. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.13). On average, sell-side analysts anticipate that Alpha Tau Medical Ltd. will post -0.67 EPS for the current year.

Insider Activity

In other news, CFO Raphi Levy sold 32,500 shares of the business’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $10.83, for a total transaction of $351,975.00. Following the sale, the chief financial officer directly owned 147,680 shares of the company’s stock, valued at $1,599,374.40. The trade was a 18.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders sold 92,127 shares of company stock valued at $1,006,794. Insiders own 39.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in DRTS. Daytona Street Capital LLC acquired a new position in Alpha Tau Medical in the 4th quarter worth approximately $749,000. Apella Capital LLC purchased a new position in Alpha Tau Medical during the 4th quarter worth approximately $1,892,000. Mariner LLC raised its stake in Alpha Tau Medical by 1.6% during the 4th quarter. Mariner LLC now owns 125,165 shares of the company’s stock valued at $620,000 after purchasing an additional 1,915 shares during the period. Millennium Management LLC raised its stake 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 purchasing an additional 70,081 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in shares of Alpha Tau Medical by 291.7% in 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 in the last quarter. 2.65% of the stock is owned by hedge funds and other 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.