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

Alpha Tau Medical Ltd. (NASDAQ:DRTS) saw unusually-strong trading volume on Monday . Approximately 527,329 shares were traded during trading, an increase of 8% from the previous session’s volume of 486,429 shares.The stock last traded at $10.04 and had previously closed at $10.83.

Wall Street Analyst Weigh In

A number of analysts recently commented on DRTS shares. Citigroup increased their price target on Alpha Tau Medical from $7.00 to $9.00 and gave the company a “buy” rating in a research report on Wednesday, March 11th. HC Wainwright reaffirmed a “buy” rating and set a $15.00 price target on shares of Alpha Tau Medical in a research report on Wednesday, May 20th. Zacks Research raised Alpha Tau Medical from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 17th. Piper Sandler increased their price target on Alpha Tau Medical from $5.00 to $8.00 and gave the company a “neutral” rating in a research report on Tuesday, May 19th. Finally, Barclays started coverage on Alpha Tau Medical in a research report on Thursday. They set an “overweight” rating and a $15.00 price target for the company. Four 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 company’s stock. According to MarketBeat.com, Alpha Tau Medical presently has a consensus rating of “Hold” and a consensus target price of $12.20.

Alpha Tau Medical Trading Down 11.9%

The firm has a fifty day simple moving average of $8.33 and a two-hundred day simple moving average of $6.79. The firm has a market capitalization of $862.20 million, a P/E ratio of -14.25 and a beta of 1.19. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.79 and a quick ratio of 7.79.

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

Hedge Funds Weigh In On Alpha Tau Medical

Several institutional investors and hedge funds have recently bought and sold shares of the company. Mariner LLC boosted its holdings in shares of Alpha Tau Medical by 1.6% in the fourth quarter. Mariner LLC now owns 125,165 shares of the company’s stock worth $620,000 after acquiring an additional 1,915 shares during the period. Trifecta Capital Advisors LLC bought a new position in shares of Alpha Tau Medical in the fourth quarter worth $48,000. Levin Capital Strategies L.P. boosted its holdings in shares of Alpha Tau Medical by 6.3% in the third quarter. Levin Capital Strategies L.P. now owns 204,714 shares of the company’s stock worth $923,000 after acquiring an additional 12,200 shares during the period. Envestnet Asset Management Inc. bought a new position in shares of Alpha Tau Medical in the third quarter worth $62,000. Finally, Wells Fargo & Company MN boosted its holdings in shares of Alpha Tau Medical by 291.7% in the fourth quarter. Wells Fargo & Company MN now owns 23,500 shares of the company’s stock worth $116,000 after acquiring an additional 17,500 shares during the period. 2.65% of the stock is owned by 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.