Alpha Tau Medical (NASDAQ:DRTS) Trading Up 7.1% – Here’s What Happened

Alpha Tau Medical Ltd. (NASDAQ:DRTS) traded up 7.1% on Friday . The stock traded as high as $12.53 and last traded at $12.7280. Approximately 196,591 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 591,564 shares. The stock had previously closed at $11.88.

Analyst Ratings Changes

DRTS has been the topic of several recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Alpha Tau Medical in a report on Monday, April 20th. HC Wainwright reiterated a “buy” rating and issued a $15.00 target price on shares of Alpha Tau Medical in a research note on Thursday. Piper Sandler boosted their target price on shares of Alpha Tau Medical from $5.00 to $8.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 19th. Zacks Research lowered shares of Alpha Tau Medical from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 1st. Finally, LADENBURG THALM/SH SH raised their price target on shares of Alpha Tau Medical from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $12.60.

Alpha Tau Medical Trading Up 12.4%

The company has a 50 day simple moving average of $10.73 and a two-hundred day simple moving average of $8.39. 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 firm has a market cap of $1.21 billion, a PE ratio of -19.84 and a beta of 1.17.

Alpha Tau Medical (NASDAQ:DRTS) last announced its quarterly earnings data 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). Analysts expect that Alpha Tau Medical Ltd. will post -0.67 EPS for the current fiscal year.

Insiders Place Their Bets

In other Alpha Tau Medical news, CFO Raphi Levy sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $10.83, for a total transaction of $351,975.00. Following the completion of the transaction, the chief financial officer directly owned 147,680 shares of the company’s stock, valued at approximately $1,599,374.40. This trade represents a 18.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last 90 days, insiders have sold 112,270 shares of company stock valued at $1,270,923. 39.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Alpha Tau Medical

Large investors have recently made changes to their positions in the business. Envestnet Asset Management Inc. acquired a new stake in shares of Alpha Tau Medical in the third quarter worth $62,000. Bank of America Corp DE raised its holdings in shares of Alpha Tau Medical by 2,779.1% during the third quarter. Bank of America Corp DE now owns 22,457 shares of the company’s stock worth $101,000 after purchasing an additional 21,677 shares during the last quarter. Millennium Management LLC acquired a new position in Alpha Tau Medical during the third quarter valued at $170,000. Mariner LLC lifted its position in Alpha Tau Medical by 185.8% during the third quarter. Mariner LLC now owns 123,250 shares of the company’s stock valued at $556,000 after purchasing an additional 80,129 shares during the period. Finally, Apella Capital LLC purchased a new stake in Alpha Tau Medical in the fourth quarter valued at $1,892,000. 2.65% of the stock is owned by hedge funds and other institutional investors.

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.