Alpha Tau Medical’s (DRTS) Neutral Rating Reiterated at Piper Sandler

Piper Sandler reaffirmed their neutral rating on shares of Alpha Tau Medical (NASDAQ:DRTS) in a report published on Wednesday morning, MarketBeat.com reports. Piper Sandler currently has a $5.00 price objective on the stock.

A number of other research analysts also recently commented on DRTS. Zacks Research raised Alpha Tau Medical from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 17th. HC Wainwright reiterated a “buy” rating on shares of Alpha Tau Medical in a report on Wednesday, December 10th. Citigroup dropped their price target on Alpha Tau Medical from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, December 10th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Alpha Tau Medical in a research note on Wednesday, January 21st. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $7.00.

Alpha Tau Medical Stock Performance

NASDAQ:DRTS opened at $6.41 on Wednesday. The company has a market capitalization of $543.70 million, a price-to-earnings ratio of -12.33 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. The stock has a 50-day simple moving average of $6.90 and a 200 day simple moving average of $5.02.

Hedge Funds Weigh In On Alpha Tau Medical

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. 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 shares of Alpha Tau Medical in the 3rd quarter worth approximately $62,000. Bank of America Corp DE boosted its position in Alpha Tau Medical by 2,779.1% during the 3rd quarter. Bank of America Corp DE now owns 22,457 shares of the company’s stock valued at $101,000 after purchasing an additional 21,677 shares during the period. Wells Fargo & Company MN boosted its position in Alpha Tau Medical by 291.7% during the 4th quarter. Wells Fargo & Company MN now owns 23,500 shares of the company’s stock valued at $116,000 after purchasing an additional 17,500 shares during the period. Finally, Millennium Management LLC bought a new position in Alpha Tau Medical during the 3rd quarter worth $170,000. 2.65% of the stock is currently owned by institutional investors and hedge funds.

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.