Analysts Set Alpha Tau Medical Ltd. (NASDAQ:DRTS) Target Price at $12.80

Shares of Alpha Tau Medical Ltd. (NASDAQ:DRTS) have been given a consensus rating of “Moderate Buy” by the eight brokerages that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $12.80.

Several brokerages recently weighed in on DRTS. Piper Sandler lifted their price objective on Alpha Tau Medical from $5.00 to $8.00 and gave the stock a “neutral” rating in a report on Tuesday, May 19th. Barclays upped their price objective on shares of Alpha Tau Medical from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Thursday, June 4th. Zacks Research upgraded shares of Alpha Tau Medical from a “strong sell” rating to a “hold” rating in a research note on Monday, August 3rd. LADENBURG THALM/SH SH boosted their price target on shares of Alpha Tau Medical from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Alpha Tau Medical in a research note on Friday, July 17th.

Insider Transactions at Alpha Tau Medical

In other Alpha Tau Medical news, CFO Raphi Levy sold 2,871 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $15.00, for a total transaction of $43,065.00. Following the sale, the chief financial officer owned 90,180 shares in the company, valued at $1,352,700. This represents a 3.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 100,371 shares of company stock worth $1,210,233. Insiders own 39.50% of the company’s stock.

Hedge Funds Weigh In On Alpha Tau Medical

Hedge funds have recently made changes to their positions in the stock. Trifecta Capital Advisors LLC bought a new stake in shares of Alpha Tau Medical during the 4th quarter valued at $48,000. Envestnet Asset Management Inc. bought a new position in Alpha Tau Medical in the 3rd quarter worth about $62,000. Bank of America Corp DE grew its holdings 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 buying an additional 21,677 shares in the last quarter. Wells Fargo & Company MN grew its holdings 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 buying an additional 17,500 shares in the last quarter. Finally, Everhart Financial Group Inc. bought a new stake in shares of Alpha Tau Medical during the second quarter valued at about $126,000. 2.65% of the stock is currently owned by hedge funds and other institutional investors.

Alpha Tau Medical Price Performance

Shares of NASDAQ DRTS opened at $13.96 on Wednesday. The company has a current ratio of 11.09, a quick ratio of 7.79 and a debt-to-equity ratio of 0.15. The stock has a fifty day simple moving average of $13.11 and a two-hundred day simple moving average of $9.98. Alpha Tau Medical has a 1-year low of $3.35 and a 1-year high of $15.10. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of -13.42 and a beta of 1.20.

Alpha Tau Medical (NASDAQ:DRTS) last issued its earnings results on Monday, August 10th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.36). Analysts anticipate that Alpha Tau Medical will post -0.92 earnings per share for the current year.

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.