Alpha Tau Medical (NASDAQ:DRTS) Upgraded at Zacks Research

Alpha Tau Medical (NASDAQ:DRTS) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

Other research analysts have also issued research reports about the company. HC Wainwright restated a “buy” rating on shares of Alpha Tau Medical in a research report on Wednesday, December 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alpha Tau Medical in a research report on Wednesday, January 21st. Wall Street Zen upgraded Alpha Tau Medical to a “sell” rating in a research report on Saturday, November 1st. Finally, Citigroup cut their price target on shares of Alpha Tau Medical from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, December 10th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $8.00.

Alpha Tau Medical Stock Down 1.9%

Shares of DRTS opened at $7.32 on Tuesday. The business has a fifty day moving average of $6.34 and a 200 day moving average of $4.69. The company has a market cap of $620.88 million, a PE ratio of -14.08 and a beta of 1.05. Alpha Tau Medical has a 52-week low of $2.30 and a 52-week high of $7.89.

Alpha Tau Medical (NASDAQ:DRTS) last announced its earnings results on Thursday, November 20th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.02). As a group, research analysts anticipate that Alpha Tau Medical will post -0.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alpha Tau Medical

Several hedge funds have recently modified their holdings of DRTS. Trifecta Capital Advisors LLC bought a new position in shares of Alpha Tau Medical during the fourth quarter valued at approximately $48,000. Envestnet Asset Management Inc. bought a new stake in Alpha Tau Medical during the 3rd quarter valued at $62,000. Bank of America Corp DE increased its holdings in shares of Alpha Tau Medical by 2,779.1% in the 3rd quarter. Bank of America Corp DE now owns 22,457 shares of the company’s stock valued at $101,000 after acquiring an additional 21,677 shares during the period. Wells Fargo & Company MN raised its position in shares of Alpha Tau Medical by 291.7% in the 4th quarter. Wells Fargo & Company MN now owns 23,500 shares of the company’s stock worth $116,000 after acquiring an additional 17,500 shares in the last quarter. Finally, Millennium Management LLC purchased a new stake in shares of Alpha Tau Medical during the 3rd quarter worth $170,000. 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.