Alpha Tau Medical Ltd. (NASDAQ:DRTS – Get Free Report) shares shot up 15.3% during mid-day trading on Wednesday . The stock traded as high as $10.33 and last traded at $10.30. 472,934 shares changed hands during mid-day trading, a decline of 6% from the average session volume of 505,271 shares. The stock had previously closed at $8.93.
Analysts Set New Price Targets
A number of equities analysts have weighed in on DRTS shares. Citigroup increased their price target on shares of Alpha Tau Medical from $7.00 to $9.00 and gave the stock a “buy” rating in a research note on Wednesday, March 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alpha Tau Medical in a research report on Monday, April 20th. LADENBURG THALM/SH SH lifted their target price on 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 restated a “buy” rating and set a $15.00 price target on shares of Alpha Tau Medical in a research note on Tuesday. Finally, Piper Sandler raised their price objective on Alpha Tau Medical from $5.00 to $8.00 and gave the stock a “neutral” rating in a report on Tuesday, May 19th. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Alpha Tau Medical presently has a consensus rating of “Hold” and a consensus target price of $12.20.
Check Out Our Latest Research Report on Alpha Tau Medical
Alpha Tau Medical Stock Up 18.7%
Alpha Tau Medical (NASDAQ:DRTS – Get Free Report) last issued 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). On average, sell-side analysts anticipate that Alpha Tau Medical Ltd. will post -0.6 earnings per share for the current year.
Hedge Funds Weigh In On Alpha Tau Medical
Institutional investors have recently added to or reduced their stakes in the company. Trifecta Capital Advisors LLC acquired a new stake in shares of Alpha Tau Medical during the fourth quarter valued at about $48,000. Envestnet Asset Management Inc. purchased a new position in Alpha Tau Medical in the third quarter valued at about $62,000. Bank of America Corp DE grew its stake in Alpha Tau Medical by 2,779.1% during the 3rd quarter. Bank of America Corp DE now owns 22,457 shares of the company’s stock valued at $101,000 after purchasing an additional 21,677 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Alpha Tau Medical by 291.7% during the 4th quarter. Wells Fargo & Company MN now owns 23,500 shares of the company’s stock worth $116,000 after purchasing an additional 17,500 shares during the last quarter. Finally, Principal Financial Group Inc. purchased a new stake in Alpha Tau Medical during the 1st quarter worth approximately $132,000. Institutional investors and hedge funds 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.
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