Zacks Research Upgrades Alpha Tau Medical (NASDAQ:DRTS) to Hold

Alpha Tau Medical (NASDAQ:DRTS) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Other analysts have also issued reports about the company. Wall Street Zen raised Alpha Tau Medical to a “sell” rating in a research note on Saturday, November 1st. Citigroup decreased their target price on shares of Alpha Tau Medical from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, December 10th. HC Wainwright restated a “buy” rating on shares of Alpha Tau Medical in a report on Wednesday, December 10th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alpha Tau Medical in a research report on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Alpha Tau Medical presently has an average rating of “Hold” and a consensus target price of $8.00.

Alpha Tau Medical Stock Performance

DRTS stock opened at $7.32 on Tuesday. The company has a 50 day moving average price of $6.34 and a two-hundred day moving average price of $4.69. The stock has a market capitalization of $620.88 million, a P/E ratio of -14.08 and a beta of 1.05. Alpha Tau Medical has a one year low of $2.30 and a one year high of $7.89.

Alpha Tau Medical (NASDAQ:DRTS) last posted its quarterly earnings data on Thursday, November 20th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.02). Research analysts forecast that Alpha Tau Medical will post -0.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alpha Tau Medical

Several institutional investors have recently bought and sold shares of DRTS. Apella Capital LLC purchased a new position in shares of Alpha Tau Medical in the 4th quarter valued at $1,892,000. Levin Capital Strategies L.P. boosted its position in Alpha Tau Medical by 6.3% during the 3rd quarter. Levin Capital Strategies L.P. now owns 204,714 shares of the company’s stock worth $923,000 after purchasing an additional 12,200 shares during the period. Daytona Street Capital LLC acquired a new stake in Alpha Tau Medical in the 4th quarter valued at $749,000. Mariner LLC raised its position in Alpha Tau Medical by 1.6% in the fourth quarter. Mariner LLC now owns 125,165 shares of the company’s stock valued at $620,000 after purchasing an additional 1,915 shares during the period. Finally, Millennium Management LLC raised its position in Alpha Tau Medical by 185.7% in the fourth quarter. Millennium Management LLC now owns 107,815 shares of the company’s stock valued at $534,000 after purchasing an additional 70,081 shares during the period. 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.