Alpha Tau Medical (NASDAQ:DRTS) Lowered to “Strong Sell” Rating by Zacks Research

Zacks Research lowered shares of Alpha Tau Medical (NASDAQ:DRTS) from a hold rating to a strong sell rating in a report issued on Wednesday morning,Zacks.com reports.

A number of other brokerages have also recently weighed in on DRTS. Weiss Ratings restated a “sell (d-)” rating on shares of Alpha Tau Medical in a research report on Monday, April 20th. HC Wainwright reissued a “buy” rating and issued a $15.00 price objective on shares of Alpha Tau Medical in a research note on Tuesday, June 2nd. Piper Sandler increased their price objective on shares of Alpha Tau Medical from $5.00 to $8.00 and gave the company a “neutral” rating in a research note on Tuesday, May 19th. Barclays raised their target price 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. Finally, Citigroup lifted their target price on shares of Alpha Tau Medical from $7.00 to $9.00 and gave the stock a “buy” rating in a research report on Wednesday, March 11th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $12.60.

Alpha Tau Medical Price Performance

Shares of NASDAQ:DRTS opened at $13.23 on Wednesday. The business’s 50 day simple moving average is $9.75 and its 200-day simple moving average is $7.85. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of -19.75 and a beta of 1.17. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.79 and a quick ratio of 7.79. Alpha Tau Medical has a 12 month low of $2.87 and a 12 month high of $13.23.

Alpha Tau Medical (NASDAQ:DRTS) last released its quarterly earnings data on Monday, May 18th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.13). As a group, equities analysts forecast that Alpha Tau Medical will post -0.67 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Raphi Levy sold 2,127 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $13.02, for a total transaction of $27,693.54. Following the sale, the chief financial officer owned 90,180 shares of the company’s stock, valued at $1,174,143.60. This trade represents a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 92,127 shares of company stock valued at $1,006,794 in the last quarter. 39.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Trifecta Capital Advisors LLC acquired a new stake in shares of Alpha Tau Medical during the 4th quarter worth about $48,000. Envestnet Asset Management Inc. purchased a new stake in shares of Alpha Tau Medical during the third quarter worth about $62,000. Bank of America Corp DE raised 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 buying an additional 21,677 shares during the last quarter. Wells Fargo & Company MN raised 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 buying an additional 17,500 shares during the last quarter. Finally, Principal Financial Group Inc. purchased a new position in shares of Alpha Tau Medical during the first quarter valued at approximately $132,000. 2.65% of the stock is currently owned by hedge funds and other institutional investors.

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.