Alpha Tau Medical (NASDAQ:DRTS) Reaches New 1-Year High – Should You Buy?
by Scott Moore · The Cerbat GemShares of Alpha Tau Medical Ltd. (NASDAQ:DRTS – Get Free Report) hit a new 52-week high on Wednesday . The stock traded as high as $5.98 and last traded at $5.93, with a volume of 231039 shares traded. The stock had previously closed at $5.84.
Analysts Set New Price Targets
A number of research analysts have recently commented on DRTS shares. HC Wainwright reissued a “buy” rating on shares of Alpha Tau Medical in a report on Wednesday, December 10th. Wall Street Zen raised shares of Alpha Tau Medical to a “sell” rating in a research note on Saturday, November 1st. Citigroup cut their target price on shares of Alpha Tau Medical from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, December 10th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Alpha Tau Medical in a report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Alpha Tau Medical currently has an average rating of “Hold” and an average target price of $8.00.
Read Our Latest Analysis on DRTS
Alpha Tau Medical Stock Performance
The company has a market capitalization of $587.80 million, a price-to-earnings ratio of -13.33 and a beta of 1.04. The company has a 50 day moving average price of $4.49 and a 200 day moving average price of $3.88.
Alpha Tau Medical (NASDAQ:DRTS – Get Free Report) last issued its earnings results on Thursday, November 20th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.02). Research analysts forecast that Alpha Tau Medical Ltd. will post -0.45 EPS for the current year.
Hedge Funds Weigh In On Alpha Tau Medical
Large investors have recently bought and sold shares of the stock. Levin Capital Strategies L.P. lifted its position in shares of Alpha Tau Medical by 6.3% during the 3rd quarter. Levin Capital Strategies L.P. now owns 204,714 shares of the company’s stock worth $923,000 after buying an additional 12,200 shares in the last quarter. Mariner LLC increased its position 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 valued at $556,000 after buying an additional 80,129 shares during the period. Millennium Management LLC purchased a new stake in Alpha Tau Medical in the 3rd quarter worth approximately $170,000. Bank of America Corp DE raised its position in shares of Alpha Tau Medical by 2,779.1% in the third quarter. Bank of America Corp DE now owns 22,457 shares of the company’s stock worth $101,000 after buying an additional 21,677 shares in the last quarter. Finally, Envestnet Asset Management Inc. purchased a new stake in shares of Alpha Tau Medical in the 3rd quarter valued at about $62,000. 2.65% of the stock is currently owned by 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.