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

Shares of Alpha Tau Medical Ltd. (NASDAQ:DRTS) saw strong trading volume on Thursday . 497,088 shares traded hands during mid-day trading, an increase of 80% from the previous session’s volume of 275,609 shares.The stock last traded at $6.46 and had previously closed at $5.90.

Wall Street Analyst Weigh In

DRTS has been the topic of a number of analyst reports. HC Wainwright reissued a “buy” rating on shares of Alpha Tau Medical in a research note on Wednesday, December 10th. Citigroup dropped their price objective on Alpha Tau Medical from $8.00 to $7.00 and set a “buy” rating for the company in a report on Wednesday, December 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Alpha Tau Medical in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded Alpha Tau Medical to a “sell” rating in a research report on Saturday, November 1st. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $8.00.

Alpha Tau Medical Stock Up 8.1%

The firm has a fifty day simple moving average of $4.49 and a 200-day simple moving average of $3.88. The company has a market capitalization of $587.80 million, a P/E ratio of -13.33 and a beta of 1.04.

Alpha Tau Medical (NASDAQ:DRTS) last issued its quarterly earnings data on Thursday, November 20th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.02). On average, sell-side analysts predict that Alpha Tau Medical Ltd. will post -0.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alpha Tau Medical

Institutional investors have recently added to or reduced their stakes in the stock. Levin Capital Strategies L.P. increased 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 purchasing an additional 12,200 shares in the last quarter. Mariner LLC lifted its holdings in shares of Alpha Tau Medical by 185.8% in 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 bought a new stake in shares of Alpha Tau Medical in the third quarter valued at about $170,000. Bank of America Corp DE boosted its position in shares of Alpha Tau Medical by 2,779.1% during the third quarter. Bank of America Corp DE now owns 22,457 shares of the company’s stock worth $101,000 after buying an additional 21,677 shares during the period. Finally, Envestnet Asset Management Inc. bought a new position in shares of Alpha Tau Medical during the third quarter worth about $62,000. 2.65% of the stock is owned by 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.