Alpha Tau Medical (NASDAQ:DRTS) Announces Earnings Results

Alpha Tau Medical (NASDAQ:DRTS) issued its 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 Up 3.5%

Shares of NASDAQ:DRTS traded up $0.46 during trading on Monday, hitting $13.60. 594,658 shares of the company’s stock traded hands, compared to its average volume of 591,624. The company has a current ratio of 7.79, a quick ratio of 7.79 and a debt-to-equity ratio of 0.09. The company has a 50-day moving average price of $11.50 and a 200-day moving average price of $9.12. Alpha Tau Medical has a 52 week low of $3.00 and a 52 week high of $14.11. The company has a market cap of $1.23 billion, a price-to-earnings ratio of -20.30 and a beta of 1.17.

Insider Buying and Selling

In other Alpha Tau Medical news, CFO Raphi Levy sold 2,270 shares of the firm’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 directly owned 90,180 shares in the company, valued at approximately $1,262,520. This trade represents a 2.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 112,270 shares of company stock worth $1,270,923. Company insiders own 39.50% of the company’s stock.

Institutional Investors Weigh In On Alpha Tau Medical

Several large investors have recently made changes to their positions in DRTS. Mariner LLC increased its holdings in Alpha Tau Medical by 1.6% during the 4th quarter. Mariner LLC now owns 125,165 shares of the company’s stock worth $620,000 after purchasing an additional 1,915 shares in the last quarter. Envestnet Asset Management Inc. acquired a new stake in shares of Alpha Tau Medical in the 3rd quarter valued at about $62,000. Wells Fargo & Company MN lifted its holdings 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 valued at $116,000 after purchasing an additional 17,500 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Alpha Tau Medical by 2,779.1% in the third 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 in the last quarter. Finally, Millennium Management LLC acquired a new position in shares of Alpha Tau Medical during the third quarter worth about $170,000. Institutional investors own 2.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alpha Tau Medical in a report on Friday, July 17th. Barclays boosted their target price on Alpha Tau Medical from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday, June 4th. HC Wainwright reiterated a “buy” rating and issued a $15.00 price target on shares of Alpha Tau Medical in a research report on Wednesday, July 22nd. Zacks Research raised shares of Alpha Tau Medical from a “strong sell” rating to a “hold” rating in a research note on Monday, August 3rd. Finally, Piper Sandler boosted their price objective on shares of Alpha Tau Medical from $5.00 to $8.00 and gave the company a “neutral” rating in a report on Tuesday, May 19th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.60.

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.