HC Wainwright Issues Positive Forecast for Alpha Tau Medical (NASDAQ:DRTS) Stock Price

Alpha Tau Medical (NASDAQ:DRTSGet Free Report) had its price objective raised by investment analysts at HC Wainwright from $15.00 to $16.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price objective would indicate a potential upside of 18.43% from the company’s current price.

Several other equities research analysts have also recently issued reports on the stock. Zacks Research upgraded shares of Alpha Tau Medical from a “strong sell” rating to a “hold” rating in a research report on Monday, August 3rd. Barclays upped their target price on shares of Alpha Tau Medical from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday, June 4th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alpha Tau Medical in a research note on Friday, July 17th. Benchmark reiterated a “buy” rating on shares of Alpha Tau Medical in a report on Thursday, July 23rd. Finally, LADENBURG THALM/SH SH boosted their price target on shares of Alpha Tau Medical from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $12.80.

View Our Latest Research Report on Alpha Tau Medical

Alpha Tau Medical Price Performance

NASDAQ:DRTS traded down $0.09 on Tuesday, reaching $13.51. 233,430 shares of the company’s stock traded hands, compared to its average volume of 589,146. The company has a quick ratio of 7.79, a current ratio of 7.79 and a debt-to-equity ratio of 0.09. The stock has a 50-day simple moving average of $11.57 and a 200-day simple moving average of $9.17. The firm has a market cap of $1.22 billion, a PE ratio of -20.03 and a beta of 1.17. Alpha Tau Medical has a 12 month low of $3.00 and a 12 month high of $14.11.

Alpha Tau Medical (NASDAQ:DRTSGet Free Report) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.36). Equities research analysts forecast that Alpha Tau Medical will post -0.67 earnings per share for the current year.

Insider Activity

In other news, CFO Raphi Levy sold 2,270 shares of Alpha Tau Medical stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $14.00, for a total value of $31,780.00. Following the completion of the transaction, the chief financial officer owned 90,180 shares in the company, valued at approximately $1,262,520. The trade was a 2.46% decrease in their position. The sale was disclosed in a document filed 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. Over the last three months, insiders sold 112,270 shares of company stock valued at $1,270,923. 39.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alpha Tau Medical

Hedge funds and other institutional investors have recently made changes to their positions in the company. Trifecta Capital Advisors LLC bought a new stake in Alpha Tau Medical in the fourth quarter worth about $48,000. Envestnet Asset Management Inc. purchased a new stake in Alpha Tau Medical in the third quarter worth $62,000. Bank of America Corp DE lifted its position in shares of Alpha Tau Medical by 2,779.1% during the third quarter. Bank of America Corp DE now owns 22,457 shares of the company’s stock worth $101,000 after purchasing an additional 21,677 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Alpha Tau Medical by 291.7% during the fourth quarter. Wells Fargo & Company MN now owns 23,500 shares of the company’s stock valued at $116,000 after purchasing an additional 17,500 shares during the period. Finally, Everhart Financial Group Inc. purchased a new stake in shares of Alpha Tau Medical during the second quarter valued at $126,000. Hedge funds and other institutional investors own 2.65% of the company’s stock.

About Alpha Tau Medical

(Get Free Report)

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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Analyst Recommendations for Alpha Tau Medical (NASDAQ:DRTS)

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