Alpha Tau Medical (NASDAQ:DRTS) Shares Gap Up – What’s Next?

Shares of Alpha Tau Medical Ltd. (NASDAQ:DRTS) gapped up before the market opened on Wednesday . The stock had previously closed at $6.56, but opened at $6.81. Alpha Tau Medical shares last traded at $7.3840, with a volume of 141,013 shares changing hands.

Wall Street Analyst Weigh In

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

Alpha Tau Medical Stock Performance

The company has a market capitalization of $655.91 million, a PE ratio of -14.79 and a beta of 1.04. The stock has a 50 day moving average price of $4.61 and a two-hundred day moving average price of $3.94.

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

Institutional Investors Weigh In On Alpha Tau Medical

Institutional investors and hedge funds have recently modified their holdings of the business. Envestnet Asset Management Inc. bought a new stake in Alpha Tau Medical during the third quarter worth approximately $62,000. Levin Capital Strategies L.P. lifted its stake in shares of Alpha Tau Medical by 6.3% in the third quarter. Levin Capital Strategies L.P. now owns 204,714 shares of the company’s stock worth $923,000 after buying an additional 12,200 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Alpha Tau Medical by 2,779.1% in 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 last quarter. Millennium Management LLC acquired a new position in Alpha Tau Medical in the 3rd quarter valued at $170,000. Finally, Mariner LLC raised its holdings in Alpha Tau Medical by 185.8% in the 3rd quarter. Mariner LLC now owns 123,250 shares of the company’s stock worth $556,000 after acquiring an additional 80,129 shares during the period. Institutional investors and hedge funds 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.