Alpha Tau Medical (NASDAQ:DRTS) Releases Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Alpha Tau Medical (NASDAQ:DRTS) issued its earnings results on Thursday. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.02), Zacks reports.

Alpha Tau Medical Stock Down 5.7%

NASDAQ:DRTS traded down $0.21 during mid-day trading on Thursday, reaching $3.47. The stock had a trading volume of 80,813 shares, compared to its average volume of 63,169. The stock has a market cap of $294.33 million, a P/E ratio of -7.23 and a beta of 1.06. The business’s 50 day moving average is $4.01 and its 200 day moving average is $3.42. The company has a debt-to-equity ratio of 0.07, a current ratio of 10.52 and a quick ratio of 5.81. Alpha Tau Medical has a fifty-two week low of $2.20 and a fifty-two week high of $4.69.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Mariner LLC boosted its holdings in 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 purchasing an additional 80,129 shares in the last quarter. Millennium Management LLC acquired a new stake in shares of Alpha Tau Medical in the third quarter worth about $170,000. Bank of America Corp DE boosted its stake in shares of 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 worth $101,000 after acquiring an additional 21,677 shares in the last quarter. Finally, Envestnet Asset Management Inc. bought a new stake in shares of Alpha Tau Medical during the 3rd quarter worth about $62,000. Institutional investors and hedge funds own 2.65% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Wall Street Zen raised Alpha Tau Medical to a “sell” rating in a research note on Saturday, November 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alpha Tau Medical in a research report on Wednesday, October 8th. Finally, HC Wainwright reiterated a “buy” rating and issued a $9.00 target price on shares of Alpha Tau Medical in a research report on Wednesday, October 22nd. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $9.00.

About Alpha Tau Medical

Alpha Tau Medical Ltd., a clinical-stage oncology therapeutics company, engages in research, development, and commercialization of diffusing alpha-emitters radiation therapy (Alpha DaRT) for the treatment of solid cancer In Israel and the United States. Its Alpha-DaRT technology used in clinical trials for skin, oral, pancreatic, prostate, and breast cancers; and preclinical studies for brain, hepatic cell carcinoma, glioblastoma multiforme, lung cancer, and others.