Citigroup Increases Alpha Tau Medical (NASDAQ:DRTS) Price Target to $9.00

Alpha Tau Medical (NASDAQ:DRTS) had its price objective boosted by equities research analysts at Citigroup from $7.00 to $9.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price objective indicates a potential upside of 30.53% from the company’s previous close.

A number of other research firms have also recently issued reports on DRTS. Zacks Research raised Alpha Tau Medical from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alpha Tau Medical in a research report on Wednesday, January 21st. HC Wainwright reiterated a “buy” rating and set a $12.00 target price on shares of Alpha Tau Medical in a research note on Tuesday. Finally, Piper Sandler restated a “neutral” rating and issued a $5.00 price target on shares of Alpha Tau Medical in a research report on Wednesday, March 4th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $8.67.

Alpha Tau Medical Trading Up 0.8%

DRTS stock traded up $0.06 during trading hours on Wednesday, hitting $6.90. 95,117 shares of the stock traded hands, compared to its average volume of 395,013. The stock has a 50-day simple moving average of $6.97 and a 200 day simple moving average of $5.10. The company has a market cap of $584.83 million, a P/E ratio of -13.01 and a beta of 1.02. Alpha Tau Medical has a one year low of $2.30 and a one year high of $8.60.

Alpha Tau Medical (NASDAQ:DRTS) last released its earnings results on Wednesday, March 11th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.01). Analysts forecast that Alpha Tau Medical will post -0.45 earnings per share for the current year.

Hedge Funds Weigh In On Alpha Tau Medical

Hedge funds have recently added to or reduced their stakes in the company. Mariner LLC boosted its position in shares of Alpha Tau Medical by 1.6% during the fourth quarter. Mariner LLC now owns 125,165 shares of the company’s stock worth $620,000 after purchasing an additional 1,915 shares in the last quarter. Trifecta Capital Advisors LLC acquired a new stake in Alpha Tau Medical during the 4th quarter worth $48,000. Levin Capital Strategies L.P. lifted its holdings 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 worth $923,000 after acquiring an additional 12,200 shares in the last quarter. Envestnet Asset Management Inc. acquired a new position in Alpha Tau Medical in the third quarter valued at about $62,000. Finally, Wells Fargo & Company MN grew its stake in 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 acquiring an additional 17,500 shares during the period. Institutional investors own 2.65% of the company’s stock.

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.