Alpha Tau Medical (NASDAQ:DRTS) Announces Earnings Results

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

Alpha Tau Medical Trading Down 3.2%

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

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Alpha Tau Medical

Several institutional investors have recently made changes to their positions in the stock. Mariner LLC lifted its position in shares of Alpha Tau Medical by 1.6% during the fourth quarter. Mariner LLC now owns 125,165 shares of the company’s stock worth $620,000 after acquiring an additional 1,915 shares in the last quarter. Millennium Management LLC lifted its position in shares of Alpha Tau Medical by 185.7% during the fourth quarter. Millennium Management LLC now owns 107,815 shares of the company’s stock worth $534,000 after acquiring an additional 70,081 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Alpha Tau Medical by 291.7% during the fourth quarter. Wells Fargo & Company MN now owns 23,500 shares of the company’s stock worth $116,000 after acquiring an additional 17,500 shares in the last quarter. Bank of America Corp DE lifted its position 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 acquiring an additional 21,677 shares in the last quarter. Finally, Envestnet Asset Management Inc. purchased a new stake in shares of Alpha Tau Medical during the third quarter worth $62,000. 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.