Alpha Tau Medical (NASDAQ:DRTS) Reaches New 52-Week High – Here’s Why

Alpha Tau Medical Ltd. (NASDAQ:DRTS) hit a new 52-week high on Monday . The company traded as high as $13.80 and last traded at $13.6820, with a volume of 20522 shares trading hands. The stock had previously closed at $13.23.

Wall Street Analysts Forecast Growth

DRTS has been the subject of several research analyst reports. Citigroup increased their target price on Alpha Tau Medical from $7.00 to $9.00 and gave the company a “buy” rating in a research note on Wednesday, March 11th. Barclays lifted their price target on shares of Alpha Tau Medical from $15.00 to $17.00 and gave the stock an “overweight” rating in a research note on Thursday, June 4th. LADENBURG THALM/SH SH upped their price target on shares of Alpha Tau Medical from $12.00 to $14.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. HC Wainwright reiterated a “buy” rating and set a $15.00 price objective on shares of Alpha Tau Medical in a research note on Tuesday, June 2nd. Finally, Zacks Research lowered shares of Alpha Tau Medical from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 1st. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $12.60.

Alpha Tau Medical Price Performance

The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of -20.39 and a beta of 1.17. The company has a current ratio of 7.79, a quick ratio of 7.79 and a debt-to-equity ratio of 0.09. The business has a 50-day moving average price of $9.85 and a two-hundred day moving average price of $7.91.

Alpha Tau Medical (NASDAQ:DRTS) last released its quarterly earnings data on Monday, May 18th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.13). As a group, research analysts forecast that Alpha Tau Medical Ltd. will post -0.67 EPS for the current year.

Insider Buying and Selling at Alpha Tau Medical

In related news, CFO Raphi Levy sold 2,127 shares of Alpha Tau Medical stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $13.02, for a total value of $27,693.54. Following the sale, the chief financial officer directly owned 90,180 shares in the company, valued at $1,174,143.60. This trade represents a 2.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 92,127 shares of company stock valued at $1,006,794. 39.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Mariner LLC raised its holdings in shares of Alpha Tau Medical by 1.6% during the fourth quarter. Mariner LLC now owns 125,165 shares of the company’s stock valued at $620,000 after buying an additional 1,915 shares during the last quarter. Trifecta Capital Advisors LLC bought a new position in Alpha Tau Medical in the 4th quarter worth approximately $48,000. Envestnet Asset Management Inc. bought a new position in Alpha Tau Medical in the 3rd quarter worth approximately $62,000. 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. acquired a new stake in Alpha Tau Medical in the 1st quarter valued at approximately $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.