Alpha Tau Medical (NASDAQ:DRTS) Announces Earnings Results

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

Alpha Tau Medical Stock Performance

Alpha Tau Medical stock traded up $0.46 during trading on Monday, reaching $13.60. The company had a trading volume of 593,938 shares, compared to its average volume of 590,701. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of -20.30 and a beta of 1.17. 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 firm’s 50-day simple moving average is $11.50 and its 200 day simple moving average is $9.12. Alpha Tau Medical has a 52 week low of $3.00 and a 52 week high of $14.11.

Insider Buying and Selling

In other news, CFO Raphi Levy sold 2,270 shares of the firm’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $14.00, for a total value of $31,780.00. Following the transaction, the chief financial officer owned 90,180 shares of the company’s stock, valued at $1,262,520. This trade represents a 2.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 112,270 shares of company stock valued at $1,270,923 in the last three months. Corporate insiders own 39.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of DRTS. Mariner LLC grew 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 purchasing an additional 1,915 shares in the last quarter. Millennium Management LLC lifted its position in Alpha Tau Medical by 185.7% during the fourth 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 position in shares of Alpha Tau Medical by 291.7% during the 4th quarter. Wells Fargo & Company MN now owns 23,500 shares of the company’s stock valued at $116,000 after buying an additional 17,500 shares in the last quarter. Bank of America Corp DE grew its position in 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 worth $101,000 after acquiring an additional 21,677 shares in the last quarter. Finally, Envestnet Asset Management Inc. purchased a new stake in Alpha Tau Medical during the third quarter valued at approximately $62,000. Hedge funds and other institutional investors own 2.65% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on DRTS. 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. Benchmark reiterated a “buy” rating on shares of Alpha Tau Medical in a research note on Thursday, July 23rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Alpha Tau Medical in a report on Friday, July 17th. LADENBURG THALM/SH SH raised their price target on Alpha Tau Medical from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Alpha Tau Medical in a report on Wednesday, July 22nd. Five equities 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.com, the company has an average rating of “Moderate Buy” and an average target price of $12.60.

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.