Alpha Tau Medical (NASDAQ:DRTS) Shares Up 5.2% - Here's What Happened

Key Points

• Shares of Alpha Tau Medical jumped 5.2% to $7.1830 (intraday high $7.15) on Tuesday, with 162,789 shares traded—about a 53% decline from its average daily volume.
• Analysts are mixed—two Buy, two Hold and one Sell—resulting in an average rating of "Hold" and an average price target of $8.67 (range roughly $5–$12).
• The company missed quarterly EPS (‑$0.14 vs. consensus ‑$0.13) and is expected to post about ‑0.45 EPS for the year, but shows strong liquidity (quick/current ratio 7.45) and low leverage (debt/equity 0.08) with a market cap near $602M.

Shares of Alpha Tau Medical Ltd. (NASDAQ:DRTS - Get Free Report) shot up 5.2% during trading on Tuesday . The stock traded as high as $7.15 and last traded at $7.1830. 162,789 shares were traded during mid-day trading, a decline of 53% from the average session volume of 343,697 shares. The stock had previously closed at $6.83.

Wall Street Analyst Weigh In

Several research firms have recently commented on DRTS. Weiss Ratings reiterated a "sell (d-)" rating on shares of Alpha Tau Medical in a research report on Wednesday, January 21st. HC Wainwright reiterated a "buy" rating and issued a $12.00 price target on shares of Alpha Tau Medical in a research report on Tuesday, March 10th. Zacks Research upgraded shares of Alpha Tau Medical from a "strong sell" rating to a "hold" rating in a research report on Tuesday, February 17th. Citigroup increased their price target on shares of Alpha Tau Medical from $7.00 to $9.00 and gave the company a "buy" rating in a research report on Wednesday, March 11th. Finally, Piper Sandler reiterated a "neutral" rating and issued a $5.00 price target on shares of Alpha Tau Medical in a research report on Wednesday, March 4th. Two 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 currently has an average rating of "Hold" and an average price target of $8.67.

Alpha Tau Medical Stock Up 4.0%

The company has a quick ratio of 7.45, a current ratio of 7.45 and a debt-to-equity ratio of 0.08. The firm has a market cap of $602.22 million, a PE ratio of -13.40 and a beta of 1.04. The firm's 50 day moving average is $7.20 and its 200-day moving average is $5.56.

Alpha Tau Medical (NASDAQ:DRTS - Get Free Report) last announced its quarterly earnings data on Monday, March 9th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.01). As a group, equities research analysts expect that Alpha Tau Medical Ltd. will post -0.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alpha Tau Medical

A number of large investors have recently bought and sold shares of DRTS. Envestnet Asset Management Inc. purchased a new position in Alpha Tau Medical during the third quarter worth approximately $62,000. Levin Capital Strategies L.P. raised its stake in Alpha Tau Medical by 6.3% during the third quarter. Levin Capital Strategies L.P. now owns 204,714 shares of the company's stock worth $923,000 after purchasing an additional 12,200 shares during the period. Bank of America Corp DE raised its stake in 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 worth $101,000 after purchasing an additional 21,677 shares during the period. Millennium Management LLC purchased a new position in Alpha Tau Medical during the third quarter worth approximately $170,000. Finally, Mariner LLC raised its stake 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 period. Hedge funds and other institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.