Alpha Tau Medical (NASDAQ:DRTS) Reaches New 1-Year High – Time to Buy?

Alpha Tau Medical Ltd. (NASDAQ:DRTS) shares hit a new 52-week high during trading on Saturday . The stock traded as high as $8.80 and last traded at $8.54, with a volume of 912811 shares traded. The stock had previously closed at $8.34.

Analyst Ratings Changes

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

Alpha Tau Medical Trading Up 2.4%

The firm has a market capitalization of $724.36 million, a PE ratio of -16.11 and a beta of 1.11. The company has a current ratio of 7.45, a quick ratio of 7.45 and a debt-to-equity ratio of 0.08. The business has a fifty day moving average price of $7.36 and a two-hundred day moving average price of $5.99.

Alpha Tau Medical (NASDAQ:DRTS) last released its quarterly earnings results on Monday, March 9th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). Analysts expect that Alpha Tau Medical Ltd. will post -0.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Alpha Tau Medical

A number of hedge funds have recently modified their holdings of the business. Mariner LLC grew its holdings in shares of Alpha Tau Medical by 1.6% during the 4th quarter. Mariner LLC now owns 125,165 shares of the company’s stock worth $620,000 after purchasing an additional 1,915 shares during the period. Trifecta Capital Advisors LLC purchased a new position in shares of Alpha Tau Medical during the 4th quarter worth $48,000. Levin Capital Strategies L.P. grew its holdings in shares of Alpha Tau Medical by 6.3% during the 3rd quarter. Levin Capital Strategies L.P. now owns 204,714 shares of the company’s stock worth $923,000 after purchasing an additional 12,200 shares during the period. Envestnet Asset Management Inc. purchased a new position in shares of Alpha Tau Medical during the 3rd quarter worth $62,000. Finally, Wells Fargo & Company MN grew its holdings 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 purchasing an additional 17,500 shares during the period. 2.65% of the stock is currently 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.