DRTS Stock: Alpha Tau Prepares to Issue 3.46 Million Shares for Current Shareholders

Alpha Tau (DRTS) plans to issue 3.46 million shares of common stock to current shareholders, aiming to unlock additional capital and support strategic objectives. Analysts forecast an average target price of $8.75, implying a 193.13% upside from the current price of $2.99. The average brokerage recommendation is 1.5, indicating a "Buy" status.

Alpha Tau, trading under the stock ticker DRTS, has announced its intention to issue 3.46 million shares of common stock to its current shareholders. This offering, detailed in a recent filing, is aimed at unlocking additional capital to support the company's strategic objectives [1].

The move comes as Alpha Tau Medical Ltd seeks to align with its broader financial strategy by providing shareholders with an opportunity to participate in the company's growth. The issuance is not expected to generate proceeds for the company, as it is a sale by current shareholders [2].

Wall Street analysts have provided forecasts for Alpha Tau Medical Ltd, with an average target price of $8.75, representing a potential 193.13% upside from the current price of $2.99. The high estimate stands at $13.00, while the low estimate is $5.00. The consensus recommendation from brokerage firms is a "Buy" status, with an average rating of 1.5 [1].

This share issuance marks a significant development for Alpha Tau, positioning the company to leverage additional capital for strategic initiatives. Investors are advised to closely monitor the market response and any further updates from the company.

References:
[1] https://www.gurufocus.com/news/2940897/alpha-tau-drts-prepares-to-offer-346-million-shares-drts-stock-news
[2] https://seekingalpha.com/news/4461272-alpha-tau-files-to-sell-346m-ordinary-shares-by-selling-shareholders