Alpha Tau Medical (NASDAQ:DRTS) Issues Earnings Results

Alpha Tau Medical (NASDAQ:DRTS) posted its quarterly earnings results on Monday. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.36), FiscalAI reports.

Alpha Tau Medical Stock Performance

DRTS opened at $13.60 on Tuesday. The company has a market cap of $1.23 billion, a P/E ratio of -20.30 and a beta of 1.17. The company has a quick ratio of 7.79, a current ratio of 7.79 and a debt-to-equity ratio of 0.09. The firm’s 50-day moving average price is $11.57 and its 200-day moving average price is $9.17. Alpha Tau Medical has a 52-week low of $3.00 and a 52-week high of $14.11.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Barclays lifted their price objective 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. Benchmark reaffirmed a “buy” rating on shares of Alpha Tau Medical in a research report on Thursday, July 23rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alpha Tau Medical in a report on Friday, July 17th. Piper Sandler boosted their price target on Alpha Tau Medical from $5.00 to $8.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 19th. Finally, HC Wainwright restated a “buy” rating and set a $15.00 price objective on shares of Alpha Tau Medical in a research note on Wednesday, July 22nd. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.60.

Insider Buying and Selling

In other Alpha Tau Medical news, CFO Raphi Levy sold 2,270 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $14.00, for a total transaction of $31,780.00. Following the sale, the chief financial officer owned 90,180 shares of the company’s stock, valued at approximately $1,262,520. The trade was a 2.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 112,270 shares of company stock valued at $1,270,923. 39.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alpha Tau Medical

Several institutional investors and hedge funds have recently made changes to their positions in DRTS. Mariner LLC raised its stake in Alpha Tau Medical by 1.6% in the 4th quarter. Mariner LLC now owns 125,165 shares of the company’s stock worth $620,000 after acquiring an additional 1,915 shares during the last quarter. Millennium Management LLC grew its stake in Alpha Tau Medical by 185.7% during the 4th quarter. Millennium Management LLC now owns 107,815 shares of the company’s stock valued at $534,000 after purchasing an additional 70,081 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Alpha Tau Medical by 291.7% in the fourth quarter. Wells Fargo & Company MN now owns 23,500 shares of the company’s stock worth $116,000 after purchasing an additional 17,500 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Alpha Tau Medical by 2,779.1% during the third 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, Envestnet Asset Management Inc. acquired a new stake in shares of Alpha Tau Medical during the third quarter worth about $62,000. 2.65% of the stock is currently owned by institutional investors and hedge funds.

Alpha Tau Medical Company Profile

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.