Alpha Tau Medical (NASDAQ:DRTS) Stock Moved Up to Hold by Zacks Research

Zacks Research upgraded shares of Alpha Tau Medical (NASDAQ:DRTS) from a strong sell rating to a hold rating in a research report report published on Monday morning,Zacks reports.

A number of other brokerages have also weighed in on DRTS. Barclays raised their price objective on Alpha Tau Medical from $17.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, September 3rd. Benchmark reaffirmed a “buy” rating on shares of Alpha Tau Medical in a report on Thursday, July 23rd. HC Wainwright reiterated a “buy” rating and issued a $16.00 target price on shares of Alpha Tau Medical in a research report on Tuesday, October 20th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Alpha Tau Medical in a research report on Thursday, October 15th. Five 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. Based on data from MarketBeat.com, Alpha Tau Medical presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.40.

Alpha Tau Medical Stock Performance

NASDAQ DRTS opened at $13.70 on Monday. The company has a market cap of $1.24 billion, a PE ratio of -13.17 and a beta of 1.28. The stock’s 50 day simple moving average is $14.11 and its 200-day simple moving average is $10.82. Alpha Tau Medical has a 1-year low of $3.43 and a 1-year high of $15.79. The company has a debt-to-equity ratio of 0.15, a current ratio of 11.09 and a quick ratio of 7.79.

Alpha Tau Medical (NASDAQ:DRTS) last issued its quarterly earnings results on Monday, August 10th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.36). As a group, equities research analysts anticipate that Alpha Tau Medical will post -1.05 EPS for the current fiscal year.

Insider Activity

In other news, CFO Raphi Levy sold 2,871 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $15.00, for a total value of $43,065.00. Following the completion of the sale, the chief financial officer directly owned 90,180 shares in the company, valued at $1,352,700. This represents a 3.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 39.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of DRTS. Everhart Financial Group Inc. purchased a new position in shares of Alpha Tau Medical during the 2nd quarter worth $126,000. Renaissance Technologies LLC acquired a new stake in shares of Alpha Tau Medical during the 1st quarter worth about $286,000. Finally, Principal Financial Group Inc. acquired a new stake in shares of Alpha Tau Medical during the 1st quarter worth about $132,000. Institutional investors and hedge funds own 2.65% of the company’s stock.

About Alpha Tau Medical

Alpha Tau Medical Ltd. is an Israel-based medical technology company developing Alpha DaRT, an investigational radiation treatment for solid tumors. The company was founded in 2016 and is headquartered in Jerusalem. Alpha DaRT uses tiny sources containing radium-224 that are placed directly inside a tumor. As the material decays, it releases alpha-emitting atoms that travel a short distance through the tumor, aiming to destroy cancer cells while limiting exposure to nearby healthy tissue. The company is conducting clinical development of Alpha DaRT for multiple types of solid tumors, with research and clinical trials in Israel and other countries, including the United States and Japan.