Alpha Tau Medical (NASDAQ:DRTS) Issues Quarterly Earnings Results

Alpha Tau Medical (NASDAQ:DRTS) released its quarterly earnings results on Monday. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.13), Zacks reports.

Alpha Tau Medical Stock Down 3.2%

Shares of DRTS stock opened at $10.03 on Tuesday. Alpha Tau Medical has a 1-year low of $2.81 and a 1-year high of $10.81. The stock’s fifty day moving average price is $7.70 and its 200 day moving average price is $6.38. The company has a debt-to-equity ratio of 0.08, a current ratio of 7.45 and a quick ratio of 7.45. The company has a market cap of $882.74 million, a price-to-earnings ratio of -18.92 and a beta of 1.11.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on DRTS shares. LADENBURG THALM/SH SH raised their price target on Alpha Tau Medical from $12.00 to $14.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Citigroup raised their price target on Alpha Tau Medical from $7.00 to $9.00 and gave the company a “buy” rating in a report on Wednesday, March 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Alpha Tau Medical in a report on Monday, April 20th. HC Wainwright raised their price target on Alpha Tau Medical from $12.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $5.00 target price on shares of Alpha Tau Medical in a report on Wednesday, March 4th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $10.75.

Institutional Trading of Alpha Tau Medical

Large investors have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. purchased a new stake in Alpha Tau Medical during the 3rd quarter valued at about $62,000. Bank of America Corp DE grew its stake in 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 valued at $101,000 after purchasing an additional 21,677 shares during the last quarter. Wells Fargo & Company MN grew its stake in Alpha Tau Medical by 291.7% during the 4th 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 last quarter. Millennium Management LLC purchased a new stake in Alpha Tau Medical during the 3rd quarter valued at about $170,000. Finally, Mariner LLC boosted its stake in shares of Alpha Tau Medical by 185.8% in the third quarter. Mariner LLC now owns 123,250 shares of the company’s stock worth $556,000 after buying an additional 80,129 shares during the last quarter. Hedge funds and other institutional investors own 2.65% of the company’s stock.

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.