Alpha Tau Medical’s (DRTS) Buy Rating Reaffirmed at HC Wainwright

Alpha Tau Medical (NASDAQ:DRTS)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $16.00 target price on the stock. HC Wainwright’s price target would suggest a potential upside of 22.32% from the company’s previous close.

Several other analysts have also issued reports on the stock. Benchmark restated a “buy” rating on shares of Alpha Tau Medical in a research report on Thursday, July 23rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Alpha Tau Medical in a research note on Thursday. Zacks Research cut shares of Alpha Tau Medical from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 1st. Finally, Barclays upped their price target on shares of Alpha Tau Medical from $17.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, September 3rd. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Alpha Tau Medical currently has an average rating of “Hold” and an average price target of $15.40.

Alpha Tau Medical Stock Up 3.6%

NASDAQ DRTS traded up $0.46 during trading hours on Tuesday, reaching $13.08. 275,736 shares of the company’s stock traded hands, compared to its average volume of 582,025. The firm has a market cap of $1.18 billion, a PE ratio of -12.58 and a beta of 1.22. The company has a debt-to-equity ratio of 0.15, a current ratio of 11.09 and a quick ratio of 7.79. The firm has a 50-day simple moving average of $14.47 and a 200 day simple moving average of $11.73. Alpha Tau Medical has a 52-week low of $3.43 and a 52-week high of $15.79.

Alpha Tau Medical (NASDAQ:DRTS) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.36). Sell-side analysts anticipate that Alpha Tau Medical will post -1.05 EPS for the current fiscal year.

Insider Activity at Alpha Tau Medical

In other Alpha Tau Medical news, CFO Raphi Levy sold 2,871 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $15.00, for a total transaction of $43,065.00. Following the completion of the sale, the chief financial officer directly owned 90,180 shares of the company’s stock, valued at approximately $1,352,700. This represents a 3.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 39.50% of the company’s stock.

Hedge Funds Weigh In On Alpha Tau Medical

Several hedge funds and other institutional investors have recently modified their holdings of DRTS. Everhart Financial Group Inc. purchased a new position in shares of Alpha Tau Medical in the 2nd quarter valued at approximately $126,000. Renaissance Technologies LLC purchased a new position in shares of Alpha Tau Medical during the 1st quarter valued at approximately $286,000. Finally, Principal Financial Group Inc. purchased a new position in shares of Alpha Tau Medical during the 1st quarter valued at approximately $132,000. 2.65% of the stock is owned by hedge funds and other institutional investors.

About Alpha Tau Medical

Alpha Tau Medical Ltd. is an Israel-based medical technology company focused on developing localized radiation treatments for solid tumors. Its lead technology, Alpha DaRT (Diffusing Alpha-emitters Radiation Therapy), is designed to deliver high-energy alpha radiation directly within a tumor while limiting exposure to surrounding healthy tissue.

Alpha DaRT uses implanted radium-224 sources that generate short-lived alpha-emitting atoms. These atoms diffuse through the treated tumor and can damage cancer cells over a localized area.