Alpha Tau Medical (NASDAQ:DRTS) Issues Quarterly Earnings Results

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

Alpha Tau Medical Stock Performance

DRTS opened at $10.68 on Wednesday. The business’s 50-day moving average price is $7.79 and its two-hundred day moving average price is $6.42. Alpha Tau Medical has a 1 year low of $2.81 and a 1 year high of $10.85. The company has a market capitalization of $939.95 million, a price-to-earnings ratio of -15.94 and a beta of 1.11. The company has a debt-to-equity ratio of 0.08, a current ratio of 7.45 and a quick ratio of 7.45.

Wall Street Analysts Forecast Growth

DRTS has been the subject of several recent analyst reports. LADENBURG THALM/SH SH upped 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 note on Tuesday, May 12th. Piper Sandler upped their target price on shares of Alpha Tau Medical from $5.00 to $8.00 and gave the company a “neutral” rating in a research note on Tuesday. Zacks Research raised Alpha Tau Medical from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 17th. Citigroup boosted their target price on Alpha Tau Medical from $7.00 to $9.00 and gave the company a “buy” rating in a research note on Wednesday, March 11th. Finally, HC Wainwright boosted their target price on Alpha Tau Medical from $12.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Alpha Tau Medical presently has a consensus rating of “Hold” and an average price target of $11.50.

Institutional Trading of Alpha Tau Medical

Several hedge funds and other institutional investors have recently modified their holdings of DRTS. Envestnet Asset Management Inc. acquired a new stake in shares of Alpha Tau Medical in the 3rd quarter valued at about $62,000. Bank of America Corp DE raised 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 during the last quarter. Millennium Management LLC acquired a new stake in shares of Alpha Tau Medical in the third quarter valued at approximately $170,000. Mariner LLC boosted its holdings in Alpha Tau Medical by 185.8% during 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 during the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in 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 purchasing an additional 17,500 shares during the last quarter. Institutional investors and hedge funds own 2.65% of the company’s stock.

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.