Alpha Tau Medical (NASDAQ:DRTS – Get Free Report) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Tuesday, Zacks reports.
Other equities analysts have also recently issued research reports about the company. LADENBURG THALM/SH SH boosted their price objective on Alpha Tau Medical from $12.00 to $14.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Benchmark restated a “buy” rating on shares of Alpha Tau Medical in a report on Thursday, July 23rd. Barclays raised their price target on shares of Alpha Tau Medical from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Thursday, June 4th. HC Wainwright boosted their target price on Alpha Tau Medical from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Alpha Tau Medical in a research note on Friday, July 17th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Alpha Tau Medical currently has a consensus rating of “Hold” and an average price target of $12.80.
Get Our Latest Stock Report on DRTS
Alpha Tau Medical Stock Performance
Alpha Tau Medical (NASDAQ:DRTS – Get Free Report) last announced its earnings results on Monday, August 10th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.36). Research analysts forecast that Alpha Tau Medical will post -0.92 EPS for the current year.
Insider Buying and Selling
In related news, CFO Raphi Levy sold 2,871 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $15.00, for a total value of $43,065.00. Following the sale, the chief financial officer owned 90,180 shares in the company, valued at $1,352,700. This represents a 3.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 100,371 shares of company stock valued at $1,210,233 in the last 90 days. 39.50% of the stock is owned by corporate insiders.
Institutional Trading of Alpha Tau Medical
Large investors have recently made changes to their positions in the business. Mariner LLC raised its holdings in shares of Alpha Tau Medical by 185.8% during the third quarter. Mariner LLC now owns 123,250 shares of the company’s stock worth $556,000 after purchasing an additional 80,129 shares during the last quarter. Millennium Management LLC boosted its position in Alpha Tau Medical by 185.7% in the 4th quarter. Millennium Management LLC now owns 107,815 shares of the company’s stock worth $534,000 after purchasing an additional 70,081 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Alpha Tau Medical during the 1st quarter worth approximately $286,000. Bank of America Corp DE grew its stake in shares of 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 worth $101,000 after purchasing an additional 21,677 shares during the period. Finally, Principal Financial Group Inc. purchased a new position in shares of Alpha Tau Medical during the 1st quarter valued at approximately $132,000. 2.65% of the stock is 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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