Alpha Tau Medical (NASDAQ:DRTS) Posts Quarterly Earnings Results, Misses Estimates By $0.36 EPS

Alpha Tau Medical (NASDAQ:DRTS) announced its earnings results on Monday. The company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.36), FiscalAI reports. The firm had revenue of $0.10 million during the quarter, compared to analyst estimates of $0.14 million.

Alpha Tau Medical Price Performance

Shares of DRTS traded down $0.66 during trading hours on Wednesday, hitting $13.61. 211,509 shares of the stock were exchanged, compared to its average volume of 590,970. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.79 and a current ratio of 7.79. Alpha Tau Medical has a 12-month low of $3.00 and a 12-month high of $14.40. The company has a market cap of $1.23 billion, a price-to-earnings ratio of -13.09 and a beta of 1.17. The stock’s 50-day moving average price is $11.68 and its two-hundred day moving average price is $9.23.

Analysts Set New Price Targets

Several brokerages recently commented on DRTS. Weiss Ratings reissued a “sell (d-)” rating on shares of Alpha Tau Medical in a report on Friday, July 17th. HC Wainwright increased their price objective on shares of Alpha Tau Medical from $15.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday. LADENBURG THALM/SH SH lifted their target price on shares of Alpha Tau Medical from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. Piper Sandler boosted their target price on shares of Alpha Tau Medical from $5.00 to $8.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 19th. Finally, Benchmark restated a “buy” rating on shares of Alpha Tau Medical in a research report on Thursday, July 23rd. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $12.80.

Insiders Place Their Bets

In other Alpha Tau Medical news, CFO Raphi Levy sold 32,500 shares of Alpha Tau Medical stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $10.83, for a total transaction of $351,975.00. Following the sale, the chief financial officer owned 147,680 shares of the company’s stock, valued at $1,599,374.40. The trade was a 18.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders sold 112,270 shares of company stock valued at $1,270,923. Company insiders own 39.50% of the company’s stock.

Institutional Investors Weigh In On Alpha Tau Medical

A number of hedge funds have recently modified their holdings of the business. Envestnet Asset Management Inc. acquired a new position in Alpha Tau Medical during the third quarter worth about $62,000. Bank of America Corp DE raised its holdings in Alpha Tau Medical by 2,779.1% in the 3rd quarter. Bank of America Corp DE now owns 22,457 shares of the company’s stock valued at $101,000 after acquiring an additional 21,677 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Alpha Tau Medical by 291.7% in the 4th quarter. Wells Fargo & Company MN now owns 23,500 shares of the company’s stock valued at $116,000 after acquiring an additional 17,500 shares during the last quarter. Millennium Management LLC acquired a new stake in Alpha Tau Medical in the 3rd quarter valued at about $170,000. Finally, Mariner LLC lifted its stake in Alpha Tau Medical by 185.8% in the 3rd 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. 2.65% of the stock is currently owned by institutional investors and hedge funds.

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.