Alpha Tau Medical (NASDAQ:DRTS) Hits New 52-Week High – Time to Buy?

Alpha Tau Medical Ltd. (NASDAQ:DRTS)’s stock price hit a new 52-week high on Monday . The company traded as high as $13.80 and last traded at $13.6820, with a volume of 20522 shares. The stock had previously closed at $13.23.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Citigroup lifted their price target on shares of Alpha Tau Medical from $7.00 to $9.00 and gave the company a “buy” rating in a report on Wednesday, March 11th. LADENBURG THALM/SH SH raised their target price on shares of Alpha Tau Medical from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Piper Sandler upped their target price on Alpha Tau Medical from $5.00 to $8.00 and gave the company a “neutral” rating in a report on Tuesday, May 19th. Zacks Research cut Alpha Tau Medical from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 1st. Finally, HC Wainwright reissued a “buy” rating and issued a $15.00 price target on shares of Alpha Tau Medical in a report on Tuesday, June 2nd. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $12.60.

Alpha Tau Medical Stock Performance

The firm has a market cap of $1.15 billion, a price-to-earnings ratio of -19.04 and a beta of 1.17. The stock’s fifty day moving average is $10.06 and its two-hundred day moving average is $8.02. 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:DRTS) last posted its earnings results on Monday, May 18th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.13). On average, analysts expect that Alpha Tau Medical Ltd. will post -0.67 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Raphi Levy sold 32,500 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $10.83, for a total value of $351,975.00. Following the completion of the transaction, the chief financial officer directly owned 147,680 shares of the company’s stock, valued at $1,599,374.40. This represents a 18.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold 112,270 shares of company stock worth $1,270,923 in the last three months. Insiders own 39.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in DRTS. Apella Capital LLC bought a new position in shares of Alpha Tau Medical in the fourth quarter worth $1,892,000. Daytona Street Capital LLC bought a new stake in shares of Alpha Tau Medical during the fourth quarter valued at about $749,000. Mariner LLC lifted its holdings in Alpha Tau Medical by 1.6% in the fourth 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. Millennium Management LLC lifted its holdings in Alpha Tau Medical by 185.7% in the fourth quarter. Millennium Management LLC now owns 107,815 shares of the company’s stock worth $534,000 after purchasing an additional 70,081 shares during the period. Finally, Renaissance Technologies LLC bought a new position in Alpha Tau Medical in the 1st quarter valued at about $286,000. 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.