Alpha Tau Medical (NASDAQ:DRTS) Hits New 52-Week High – What’s Next?

by · The Markets Daily

Alpha Tau Medical Ltd. (NASDAQ:DRTSGet Free Report) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $11.68 and last traded at $11.75, with a volume of 169623 shares traded. The stock had previously closed at $11.22.

Analyst Ratings Changes

A number of research analysts have commented on DRTS shares. Citigroup increased their price target on shares of Alpha Tau Medical from $7.00 to $9.00 and gave the company a “buy” rating in a research report on Wednesday, March 11th. Barclays boosted their price objective on shares of Alpha Tau Medical from $15.00 to $17.00 and gave the stock an “overweight” rating in a report on Thursday, June 4th. HC Wainwright reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Alpha Tau Medical in a research note on Tuesday, June 2nd. LADENBURG THALM/SH SH increased their target price on shares of Alpha Tau Medical from $12.00 to $14.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Finally, Piper Sandler lifted their target price on shares of Alpha Tau Medical from $5.00 to $8.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 19th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $12.60.

View Our Latest Research Report on DRTS

Alpha Tau Medical Stock Performance

The company has a market cap of $1.08 billion, a P/E ratio of -17.89 and a beta of 1.19. The business has a 50 day moving average price of $9.46 and a two-hundred day moving average price of $7.69. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.79 and a current ratio of 7.79.

Alpha Tau Medical (NASDAQ:DRTSGet Free Report) last posted its quarterly earnings results on Monday, May 18th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.13). On average, sell-side analysts anticipate that Alpha Tau Medical Ltd. will post -0.67 earnings per share for the current year.

Insider Buying and Selling at Alpha Tau Medical

In other news, CFO Raphi Levy sold 20,000 shares of the stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $11.00, for a total transaction of $220,000.00. Following the completion of the sale, the chief financial officer owned 110,180 shares of the company’s stock, valued at approximately $1,211,980. This represents a 15.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 70,000 shares of company stock worth $739,100 over the last ninety days. Corporate insiders own 39.50% of the company’s stock.

Institutional Investors Weigh In On Alpha Tau Medical

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Trifecta Capital Advisors LLC purchased a new stake in Alpha Tau Medical during the 4th quarter valued at $48,000. Envestnet Asset Management Inc. bought a new stake in Alpha Tau Medical in the 3rd quarter worth $62,000. Bank of America Corp DE increased its position in shares of Alpha Tau Medical by 2,779.1% in the third quarter. Bank of America Corp DE now owns 22,457 shares of the company’s stock valued at $101,000 after acquiring an additional 21,677 shares during the period. Wells Fargo & Company MN increased its position in shares of Alpha Tau Medical by 291.7% in the fourth quarter. Wells Fargo & Company MN now owns 23,500 shares of the company’s stock valued at $116,000 after acquiring an additional 17,500 shares during the period. Finally, Principal Financial Group Inc. bought a new position in shares of Alpha Tau Medical during the first quarter valued at about $132,000. 2.65% of the stock is currently owned by institutional investors.

Alpha Tau Medical Company Profile

(Get Free Report)

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.

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