Alpha Tau Medical (NASDAQ:DRTS) Trading Up 13.6% – Here’s What Happened

Shares of Alpha Tau Medical Ltd. (NASDAQ:DRTS) were up 13.6% during mid-day trading on Thursday . The company traded as high as $8.25 and last traded at $8.3730. Approximately 420,534 shares traded hands during trading, an increase of 24% from the average daily volume of 337,961 shares. The stock had previously closed at $7.37.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on DRTS shares. 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 research report on Wednesday, March 11th. Piper Sandler reiterated a “neutral” rating and set a $5.00 price target on shares of Alpha Tau Medical in a research report on Wednesday, March 4th. Zacks Research upgraded shares of Alpha Tau Medical from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alpha Tau Medical in a research report on Monday, April 20th. Finally, HC Wainwright restated a “buy” rating and set a $12.00 price objective on shares of Alpha Tau Medical in a research report on Tuesday, March 10th. Two investment 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. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $8.67.

Alpha Tau Medical Price Performance

The company has a debt-to-equity ratio of 0.08, a quick ratio of 7.45 and a current ratio of 7.45. The stock has a market capitalization of $724.36 million, a price-to-earnings ratio of -16.11 and a beta of 1.11. The company has a 50-day moving average of $7.36 and a 200-day moving average of $5.99.

Alpha Tau Medical (NASDAQ:DRTS) last issued its quarterly earnings data on Monday, March 9th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.01). As a group, equities research analysts expect that Alpha Tau Medical Ltd. will post -0.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Mariner LLC raised its holdings in Alpha Tau Medical by 1.6% in the 4th quarter. Mariner LLC now owns 125,165 shares of the company’s stock valued at $620,000 after acquiring an additional 1,915 shares during the last quarter. Trifecta Capital Advisors LLC acquired a new position in Alpha Tau Medical in the 4th quarter valued at $48,000. Levin Capital Strategies L.P. raised its holdings in Alpha Tau Medical by 6.3% in the 3rd quarter. Levin Capital Strategies L.P. now owns 204,714 shares of the company’s stock valued at $923,000 after acquiring an additional 12,200 shares during the last quarter. Envestnet Asset Management Inc. acquired a new position in Alpha Tau Medical in the 3rd quarter valued at $62,000. Finally, Wells Fargo & Company MN raised its holdings in Alpha Tau Medical by 291.7% in the 4th 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 last quarter. 2.65% of the stock is currently owned by institutional investors and hedge funds.

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.