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

Alpha Tau Medical Ltd. (NASDAQ:DRTS) gapped up before the market opened on Monday . The stock had previously closed at $8.54, but opened at $9.01. Alpha Tau Medical shares last traded at $8.27, with a volume of 410,287 shares.

Analyst Upgrades and Downgrades

DRTS has been the subject of a number of recent analyst reports. Zacks Research raised Alpha Tau Medical from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 17th. Citigroup lifted their price target on Alpha Tau Medical from $7.00 to $9.00 and gave the stock a “buy” rating in a report on Wednesday, March 11th. HC Wainwright reaffirmed a “buy” rating and set a $12.00 price target on shares of Alpha Tau Medical in a report on Tuesday, March 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alpha Tau Medical in a report on Monday, April 20th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $5.00 price target on shares of Alpha Tau Medical in a report on Wednesday, March 4th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $8.67.

Alpha Tau Medical Stock Up 2.7%

The company has a debt-to-equity ratio of 0.08, a current ratio of 7.45 and a quick ratio of 7.45. The company has a fifty day moving average price of $7.36 and a two-hundred day moving average price of $6.04.

Alpha Tau Medical (NASDAQ:DRTS) last posted its earnings results on Monday, March 9th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.01). On average, equities research analysts expect that Alpha Tau Medical Ltd. will post -0.5 EPS for the current year.

Institutional Trading of Alpha Tau Medical

Several institutional investors and hedge funds have recently made changes to their positions in DRTS. Envestnet Asset Management Inc. purchased a new stake in shares of Alpha Tau Medical in the 3rd quarter valued at about $62,000. Levin Capital Strategies L.P. lifted its holdings in shares of Alpha Tau Medical by 6.3% in the 3rd quarter. Levin Capital Strategies L.P. now owns 204,714 shares of the company’s stock valued at $923,000 after purchasing an additional 12,200 shares during the last quarter. Bank of America Corp DE lifted 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 purchasing an additional 21,677 shares during the last quarter. Millennium Management LLC purchased a new stake in shares of Alpha Tau Medical in the 3rd quarter valued at about $170,000. Finally, Mariner LLC lifted its holdings in shares of Alpha Tau Medical by 185.8% in the 3rd quarter. Mariner LLC now owns 123,250 shares of the company’s stock valued at $556,000 after purchasing an additional 80,129 shares during the last quarter. 2.65% of the stock is owned by hedge funds and other institutional investors.

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.