Shares of Alpha Tau Medical Ltd. (NASDAQ:DRTS – Get Free Report) shot up 8% on Thursday . The stock traded as high as $10.75 and last traded at $10.8490. 122,284 shares traded hands during trading, a decline of 78% from the average session volume of 550,315 shares. The stock had previously closed at $10.05.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on DRTS shares. Piper Sandler boosted their price target on shares of Alpha Tau Medical from $5.00 to $8.00 and gave the company a “neutral” rating in a research note on Tuesday, May 19th. HC Wainwright reaffirmed a “buy” rating and set a $15.00 price objective on shares of Alpha Tau Medical in a research report on Tuesday, June 2nd. LADENBURG THALM/SH SH lifted their target price 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. Citigroup boosted their target price 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. Finally, Barclays upped their price target on Alpha Tau Medical from $15.00 to $17.00 and gave the stock an “overweight” rating in a research note on Thursday, June 4th. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Alpha Tau Medical has a consensus rating of “Hold” and an average target price of $12.60.
Get Our Latest Stock Report on DRTS
Alpha Tau Medical Stock Up 8.2%
Alpha Tau Medical (NASDAQ:DRTS – Get Free Report) last released its earnings results 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). Equities analysts forecast that Alpha Tau Medical Ltd. will post -0.67 earnings per share for the current fiscal year.
Insider Buying and Selling at Alpha Tau Medical
In other news, CFO Raphi Levy sold 17,500 shares of the company’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $9.55, for a total transaction of $167,125.00. Following the sale, the chief financial officer owned 130,180 shares of the company’s stock, valued at approximately $1,243,219. This represents a 11.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 39.50% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Trifecta Capital Advisors LLC acquired a new position in Alpha Tau Medical during the 4th quarter worth $48,000. Envestnet Asset Management Inc. acquired a new stake in Alpha Tau Medical in the 3rd quarter valued at about $62,000. Bank of America Corp DE boosted its stake in shares of Alpha Tau Medical by 2,779.1% in the 3rd quarter. Bank of America Corp DE now owns 22,457 shares of the company’s stock valued at $101,000 after buying an additional 21,677 shares during the period. Wells Fargo & Company MN boosted its stake in shares of 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 buying an additional 17,500 shares during the period. Finally, Principal Financial Group Inc. acquired a new position in shares of Alpha Tau Medical during the first quarter worth about $132,000. 2.65% of the stock is currently 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.
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