Alpha Tau Medical (NASDAQ:DRTS) Shares Up 15.3% – Time to Buy?

Alpha Tau Medical Ltd. (NASDAQ:DRTS)’s share price shot up 15.3% during mid-day trading on Wednesday . The stock traded as high as $10.33 and last traded at $10.30. 472,934 shares were traded during mid-day trading, a decline of 6% from the average session volume of 505,271 shares. The stock had previously closed at $8.93.

Wall Street Analyst Weigh In

Several brokerages have issued reports on DRTS. Citigroup boosted their price target on shares of Alpha Tau Medical from $7.00 to $9.00 and gave the company a “buy” rating in a report on Wednesday, March 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Alpha Tau Medical in a report on Monday, April 20th. Zacks Research raised shares of Alpha Tau Medical from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 17th. Piper Sandler upped their target price on shares of Alpha Tau Medical from $5.00 to $8.00 and gave the stock a “neutral” rating in a report on Tuesday, May 19th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $15.00 target price on shares of Alpha Tau Medical in a report on Tuesday. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $12.60.

Alpha Tau Medical Trading Down 3.2%

The company’s fifty day moving average price is $8.55 and its two-hundred day moving average price is $6.96. The company has a current ratio of 7.79, a quick ratio of 7.79 and a debt-to-equity ratio of 0.09. The firm has a market cap of $924.98 million, a P/E ratio of -15.28 and a beta of 1.19.

Alpha Tau Medical (NASDAQ:DRTS) last posted its earnings results on Monday, May 18th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.13). As a group, sell-side analysts predict that Alpha Tau Medical Ltd. will post -0.67 EPS for the current fiscal year.

Insider Buying and Selling at Alpha Tau Medical

In related news, CFO Raphi Levy sold 32,500 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $10.83, for a total transaction of $351,975.00. Following the transaction, the chief financial officer owned 147,680 shares in the company, valued at $1,599,374.40. This represents a 18.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 39.50% of the company’s stock.

Institutional Investors Weigh In On Alpha Tau Medical

Hedge funds have recently added to or reduced their stakes in the stock. Daytona Street Capital LLC bought a new stake in Alpha Tau Medical during the 4th quarter worth about $749,000. Apella Capital LLC bought a new stake in Alpha Tau Medical during the 4th quarter worth about $1,892,000. Levin Capital Strategies L.P. grew its holdings in Alpha Tau Medical by 6.3% during the 3rd quarter. Levin Capital Strategies L.P. now owns 204,714 shares of the company’s stock worth $923,000 after acquiring an additional 12,200 shares during the last quarter. Mariner LLC grew its holdings in Alpha Tau Medical by 1.6% during the 4th quarter. Mariner LLC now owns 125,165 shares of the company’s stock worth $620,000 after acquiring an additional 1,915 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in Alpha Tau Medical by 185.7% during the 4th quarter. Millennium Management LLC now owns 107,815 shares of the company’s stock worth $534,000 after acquiring an additional 70,081 shares during the last quarter. 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.