Alpha Tau Medical (NASDAQ:DRTS) Shares Up 15.3% – Here’s Why

Alpha Tau Medical Ltd. (NASDAQ:DRTS)’s share price was up 15.3% during mid-day trading on Wednesday . The company traded as high as $10.33 and last traded at $10.30. Approximately 472,934 shares changed hands during mid-day trading, a decline of 6% from the average daily volume of 505,271 shares. The stock had previously closed at $8.93.

Analyst Ratings Changes

DRTS has been the subject of a number of research reports. LADENBURG THALM/SH SH lifted their price target on Alpha Tau Medical from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alpha Tau Medical in a research report on Monday, April 20th. Citigroup boosted their price target on Alpha Tau Medical from $7.00 to $9.00 and gave the company a “buy” rating in a report on Wednesday, March 11th. HC Wainwright reissued a “buy” rating and set a $15.00 price target on shares of Alpha Tau Medical in a research report on Tuesday. Finally, Barclays initiated coverage on shares of Alpha Tau Medical in a report on Thursday, May 28th. They issued an “overweight” rating and a $15.00 price objective for the company. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $12.20.

Alpha Tau Medical Stock Performance

The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.79 and a current ratio of 7.79. The stock has a 50 day moving average of $8.38 and a 200 day moving average of $6.83. The stock has a market capitalization of $957.46 million, a P/E ratio of -15.82 and a beta of 1.19.

Alpha Tau Medical (NASDAQ:DRTS) last announced its quarterly earnings results on Monday, May 18th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.13). Equities analysts predict that Alpha Tau Medical Ltd. will post -0.6 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Trifecta Capital Advisors LLC acquired a new stake in shares of Alpha Tau Medical in the fourth quarter valued at approximately $48,000. Envestnet Asset Management Inc. bought a new position in Alpha Tau Medical in the 3rd quarter worth approximately $62,000. Bank of America Corp DE grew its holdings in Alpha Tau Medical by 2,779.1% in the 3rd quarter. Bank of America Corp DE now owns 22,457 shares of the company’s stock worth $101,000 after buying an additional 21,677 shares in the last quarter. Wells Fargo & Company MN increased its position 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 period. Finally, Principal Financial Group Inc. bought a new stake in Alpha Tau Medical during the 1st quarter valued at $132,000. Institutional investors own 2.65% of the company’s stock.

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.