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

Key Points

• Alpha Tau Medical reported a quarterly loss of $0.50 per share, missing the consensus estimate of a $0.14 loss by $0.36.
• Shares rose 3.5% to $13.60, near the company’s 52-week high of $14.11; Alpha Tau has a market capitalization of approximately $1.23 billion.
• Analyst sentiment remains mixed but leans positive, with a consensus rating of “Moderate Buy” and an average price target of $12.60. Insiders sold 112,270 shares worth about $1.27 million over the past three months.

Alpha Tau Medical (NASDAQ:DRTS - Get Free Report) posted its quarterly earnings data on Monday. The company reported ($0.50) EPS for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.36), FiscalAI reports.

Alpha Tau Medical Trading Up 3.5%

Alpha Tau Medical stock traded up $0.46 during trading hours on Monday, reaching $13.60. The stock had a trading volume of 593,938 shares, compared to its average volume of 590,701. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.79 and a quick ratio of 7.79. Alpha Tau Medical has a 52 week low of $3.00 and a 52 week high of $14.11. The stock has a market cap of $1.23 billion, a PE ratio of -20.30 and a beta of 1.17. The company has a fifty day simple moving average of $11.50 and a 200-day simple moving average of $9.12.

Insider Activity at Alpha Tau Medical

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

Institutional Trading of Alpha Tau Medical

A number of hedge funds have recently made changes to their positions in DRTS. Millennium Management LLC increased its position in Alpha Tau Medical by 185.7% during the 4th quarter. Millennium Management LLC now owns 107,815 shares of the company's stock valued at $534,000 after buying an additional 70,081 shares in the last quarter. Mariner LLC lifted its position in Alpha Tau Medical by 1.6% in the 4th quarter. Mariner LLC now owns 125,165 shares of the company's stock valued at $620,000 after acquiring an additional 1,915 shares in the last quarter. Wells Fargo & Company MN lifted its position 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 in the last quarter. Bank of America Corp DE boosted its stake in 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 valued at $101,000 after purchasing an additional 21,677 shares during the last quarter. Finally, Envestnet Asset Management Inc. bought a new stake in shares of Alpha Tau Medical in the 3rd quarter worth $62,000. 2.65% of the stock is owned by institutional investors.

Analyst Ratings Changes

DRTS has been the subject of several analyst reports. Zacks Research upgraded shares of Alpha Tau Medical from a "strong sell" rating to a "hold" rating in a report on Monday, August 3rd. Benchmark reaffirmed a "buy" rating on shares of Alpha Tau Medical in a research report on Thursday, July 23rd. Piper Sandler lifted their price objective 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, May 19th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Alpha Tau Medical in a report on Friday, July 17th. Finally, Barclays upped their price target on shares of Alpha Tau Medical from $15.00 to $17.00 and gave the stock an "overweight" rating in a report on Thursday, June 4th. Five investment 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target 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.

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