Alpha Tau Medical (NASDAQ:DRTS) Price Target Cut to $8.00 by Analysts at Piper Sandler

Alpha Tau Medical (NASDAQ:DRTS) had its target price reduced by Piper Sandler from $12.00 to $8.00 in a research report released on Friday morning, Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

A number of other research analysts have also recently weighed in on the stock. HC Wainwright reiterated a buy rating and set a $9.00 price objective on shares of Alpha Tau Medical in a research report on Wednesday, September 20th. Cantor Fitzgerald reiterated an overweight rating and set a $23.00 price objective on shares of Alpha Tau Medical in a research report on Tuesday, August 29th.

Alpha Tau Medical Price Performance

Alpha Tau Medical stock opened at $2.90 on Friday. The firm’s 50 day moving average price is $3.38 and its 200-day moving average price is $3.68. Alpha Tau Medical has a 1 year low of $2.75 and a 1 year high of $5.95. The stock has a market cap of $201.18 million, a P/E ratio of -8.29 and a beta of 0.93.

Alpha Tau Medical (NASDAQ:DRTS) last announced its quarterly earnings results on Monday, August 28th. The company reported ($0.13) earnings per share for the quarter, hitting the consensus estimate of ($0.13). As a group, equities analysts expect that Alpha Tau Medical will post -0.49 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DRTS. Citigroup Inc. grew its holdings in shares of Alpha Tau Medical by 1,301.3% in the second quarter. Citigroup Inc. now owns 337,761 shares of the company’s stock worth $1,476,000 after purchasing an additional 313,657 shares during the last quarter. Hoylecohen LLC bought a new position in Alpha Tau Medical during the 3rd quarter worth about $1,020,000. JPMorgan Chase & Co. bought a new position in Alpha Tau Medical during the 2nd quarter worth about $697,000. Atalaya Capital Management LP bought a new position in Alpha Tau Medical during the 2nd quarter worth about $322,000. Finally, Levin Capital Strategies L.P. grew its holdings in Alpha Tau Medical by 325.0% during the 3rd quarter. Levin Capital Strategies L.P. now owns 85,000 shares of the company’s stock worth $322,000 after acquiring an additional 65,000 shares in the last quarter. 1.47% of the stock is currently owned by institutional investors.

Alpha Tau Medical Company Profile

Alpha Tau Medical Ltd., a clinical-stage oncology therapeutics company, engages in research, development, and commercialization of diffusing alpha-emitters radiation therapy (Alpha DaRT) for the treatment of solid cancer In Israel and the United States. Its Alpha-DaRT technology used in clinical trials for skin, oral, pancreatic, prostate, and breast cancers; and preclinical studies for brain, hepatic cell carcinoma, glioblastoma multiforme, lung cancer, and others.