Alpha Tau Medical (NASDAQ:DRTS) Trading Up 8% – Should You Buy?

Alpha Tau Medical Ltd. (NASDAQ:DRTS) shares were up 8% on Thursday . The stock traded as high as $10.75 and last traded at $10.8490. Approximately 122,284 shares were traded during trading, a decline of 78% from the average session volume of 550,315 shares. The stock had previously closed at $10.05.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alpha Tau Medical in a report on Monday, April 20th. Piper Sandler increased 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. LADENBURG THALM/SH SH raised their target price on Alpha Tau Medical from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Citigroup boosted their price target on Alpha Tau Medical from $7.00 to $9.00 and gave the stock a “buy” rating in a research report on Wednesday, March 11th. Finally, Barclays increased their price objective on Alpha Tau Medical from $15.00 to $17.00 and gave the company an “overweight” rating in a research note on Thursday, June 4th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Alpha Tau Medical currently has an average rating of “Hold” and a consensus target price of $12.60.

Alpha Tau Medical Trading Up 8.2%

The company has a current ratio of 7.79, a quick ratio of 7.79 and a debt-to-equity ratio of 0.09. The company has a fifty day simple moving average of $9.27 and a 200-day simple moving average of $7.54. The company has a market capitalization of $982.25 million, a PE ratio of -16.17 and a beta of 1.19.

Alpha Tau Medical (NASDAQ:DRTS) last issued 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). Analysts predict that Alpha Tau Medical Ltd. will post -0.67 EPS for the current year.

Insider Buying and Selling at Alpha Tau Medical

In other news, CFO Raphi Levy sold 17,500 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $9.55, for a total value of $167,125.00. Following the completion of the sale, the chief financial officer owned 130,180 shares of the company’s stock, valued at $1,243,219. This represents a 11.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 39.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in DRTS. Apella Capital LLC acquired a new stake in Alpha Tau Medical during the fourth quarter worth $1,892,000. Daytona Street Capital LLC acquired a new stake in shares of Alpha Tau Medical during the 4th quarter worth about $749,000. Mariner LLC increased its position in shares of Alpha Tau Medical by 185.8% during the 3rd quarter. Mariner LLC now owns 123,250 shares of the company’s stock worth $556,000 after purchasing an additional 80,129 shares during the last quarter. Millennium Management LLC raised its holdings in Alpha Tau Medical by 185.7% in the 4th quarter. Millennium Management LLC now owns 107,815 shares of the company’s stock valued at $534,000 after buying an additional 70,081 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in Alpha Tau Medical in the 1st quarter valued at about $286,000. 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.