Alpha Tau Medical (NASDAQ:DRTS) Releases Earnings Results, Misses Expectations By $0.13 EPS

Alpha Tau Medical (NASDAQ:DRTS) issued its earnings results on Monday. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.13), Zacks reports.

Alpha Tau Medical Price Performance

Shares of Alpha Tau Medical stock opened at $10.03 on Tuesday. The business has a 50 day simple moving average of $7.70 and a two-hundred day simple moving average of $6.38. Alpha Tau Medical has a 12 month low of $2.81 and a 12 month high of $10.81. The stock has a market capitalization of $882.74 million, a P/E ratio of -18.92 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 Analyst Weigh In

A number of analysts have recently commented on DRTS shares. Citigroup upped their target price on Alpha Tau Medical from $7.00 to $9.00 and gave the stock a “buy” rating in a research note on Wednesday, March 11th. Zacks Research raised Alpha Tau Medical from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alpha Tau Medical in a report on Monday, April 20th. LADENBURG THALM/SH SH upped their price target on Alpha Tau Medical from $12.00 to $14.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Finally, HC Wainwright upped their price target on Alpha Tau Medical from $12.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Alpha Tau Medical currently has a consensus rating of “Hold” and a consensus target price of $10.75.

Hedge Funds Weigh In On Alpha Tau Medical

Hedge funds have recently made changes to their positions in the company. Mariner LLC raised its holdings 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 valued at $620,000 after acquiring an additional 1,915 shares during the last quarter. Millennium Management LLC raised its holdings in shares of 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 acquiring an additional 70,081 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of Alpha Tau Medical by 291.7% during the fourth 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. Bank of America Corp DE raised its holdings in shares of Alpha Tau Medical by 2,779.1% during the third 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. Finally, Envestnet Asset Management Inc. acquired a new position in shares of Alpha Tau Medical during the third quarter valued at approximately $62,000. 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.