Alpha Tau Medical (NASDAQ:DRTS) Sees Strong Trading Volume – Here’s What Happened

Shares of Alpha Tau Medical Ltd. (NASDAQ:DRTS) saw strong trading volume on Friday . 218,706 shares traded hands during trading, a decline of 36% from the previous session’s volume of 340,510 shares.The stock last traded at $8.6650 and had previously closed at $8.34.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Zacks Research raised shares of Alpha Tau Medical from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 17th. Piper Sandler reissued a “neutral” rating and set a $5.00 target price on shares of Alpha Tau Medical in a research report on Wednesday, March 4th. HC Wainwright reissued a “buy” rating and set a $12.00 target price on shares of Alpha Tau Medical in a research report on Tuesday, March 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Alpha Tau Medical in a research report on Monday, April 20th. Finally, Citigroup lifted their target price on shares of Alpha Tau Medical from $7.00 to $9.00 and gave the stock a “buy” rating in a research report on Wednesday, March 11th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Alpha Tau Medical presently has a consensus rating of “Hold” and an average price target of $8.67.

Alpha Tau Medical Stock Performance

The company has a current ratio of 7.45, a quick ratio of 7.45 and a debt-to-equity ratio of 0.08. The stock has a market cap of $722.24 million, a P/E ratio of -16.06 and a beta of 1.04. The company’s 50-day simple moving average is $7.36 and its 200 day simple moving average is $5.99.

Alpha Tau Medical (NASDAQ:DRTS) last posted its quarterly earnings results on Monday, March 9th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). As a group, sell-side analysts expect that Alpha Tau Medical Ltd. will post -0.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Alpha Tau Medical

A number of hedge funds have recently modified their holdings of the stock. Apella Capital LLC bought a new stake in shares of Alpha Tau Medical in the 4th quarter worth approximately $1,892,000. Levin Capital Strategies L.P. raised its holdings in shares of 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 worth $923,000 after purchasing an additional 12,200 shares during the period. Daytona Street Capital LLC bought a new stake in shares of Alpha Tau Medical in the 4th quarter worth approximately $749,000. Mariner LLC raised its holdings in shares of Alpha Tau Medical by 1.6% in the 4th quarter. Mariner LLC now owns 125,165 shares of the company’s stock worth $620,000 after purchasing an additional 1,915 shares during the period. Finally, Millennium Management LLC raised its holdings in shares of Alpha Tau Medical by 185.7% in the 4th quarter. Millennium Management LLC now owns 107,815 shares of the company’s stock worth $534,000 after purchasing an additional 70,081 shares during the period. Institutional investors own 2.65% of the company’s stock.

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.