Alpha Tau Medical (NASDAQ:DRTS) Receives Buy Rating from HC Wainwright

Alpha Tau Medical (NASDAQ:DRTS)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $15.00 target price on the stock. HC Wainwright’s price objective indicates a potential upside of 21.11% from the stock’s current price.

Several other research firms have also recently commented on DRTS. LADENBURG THALM/SH SH boosted their price objective 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. Zacks Research cut Alpha Tau Medical from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 1st. Piper Sandler upped their price target on Alpha Tau Medical from $5.00 to $8.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alpha Tau Medical in a research note on Monday, April 20th. Finally, Barclays lifted 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. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Alpha Tau Medical currently has a consensus rating of “Hold” and an average target price of $12.60.

Alpha Tau Medical Stock Down 0.6%

DRTS stock traded down $0.07 during mid-day trading on Thursday, hitting $12.38. 102,260 shares of the company were exchanged, compared to its average volume of 589,981. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.79 and a current ratio of 7.79. The firm has a market cap of $1.12 billion, a P/E ratio of -18.42 and a beta of 1.17. The firm’s 50 day simple moving average is $10.65 and its 200 day simple moving average is $8.34. Alpha Tau Medical has a 1-year low of $2.87 and a 1-year high of $14.11.

Alpha Tau Medical (NASDAQ:DRTS) last announced its quarterly earnings results on Monday, May 18th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.13). On average, sell-side analysts predict that Alpha Tau Medical will post -0.67 EPS for the current fiscal year.

Insider Buying and Selling at Alpha Tau Medical

In other news, CFO Raphi Levy sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $10.83, for a total transaction of $351,975.00. Following the completion of the sale, the chief financial officer owned 147,680 shares in the company, valued at approximately $1,599,374.40. This trade represents a 18.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold 112,270 shares of company stock valued at $1,270,923 over the last 90 days. 39.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alpha Tau Medical

Several institutional investors and hedge funds have recently made changes to their positions in the company. Trifecta Capital Advisors LLC bought a new position in Alpha Tau Medical during the 4th quarter worth $48,000. Envestnet Asset Management Inc. acquired a new position in shares of Alpha Tau Medical in the 3rd quarter valued at approximately $62,000. Bank of America Corp DE lifted its stake in Alpha Tau Medical by 2,779.1% during the third quarter. Bank of America Corp DE now owns 22,457 shares of the company’s stock worth $101,000 after purchasing an additional 21,677 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of Alpha Tau Medical by 291.7% during the 4th quarter. Wells Fargo & Company MN now owns 23,500 shares of the company’s stock worth $116,000 after buying an additional 17,500 shares during the last quarter. Finally, Everhart Financial Group Inc. acquired a new stake in Alpha Tau Medical in the second quarter valued at about $126,000. 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.