Short Interest in Delcath Systems, Inc. (NASDAQ:DCTH) Decreases By 10.9%

Delcath Systems, Inc. (NASDAQ:DCTH) saw a large decrease in short interest during the month of September. As of September 30th, there was short interest totalling 1,220,000 shares, a decrease of 10.9% from the September 15th total of 1,370,000 shares. Based on an average daily trading volume, of 274,200 shares, the days-to-cover ratio is presently 4.4 days.

Delcath Systems Stock Up 7.6 %

DCTH traded up $0.72 on Thursday, hitting $10.23. 1,008,053 shares of the company traded hands, compared to its average volume of 256,949. The company has a 50 day moving average of $9.05 and a 200-day moving average of $7.66. Delcath Systems has a 12-month low of $2.25 and a 12-month high of $11.74. The stock has a market capitalization of $284.25 million, a PE ratio of -3.86 and a beta of 0.78.

Delcath Systems (NASDAQ:DCTH) last issued its quarterly earnings results on Monday, August 5th. The company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.12). The business had revenue of $7.77 million for the quarter, compared to analysts’ expectations of $5.00 million. Delcath Systems had a negative return on equity of 312.48% and a negative net margin of 474.22%. During the same period in the prior year, the company earned ($0.58) EPS. On average, research analysts anticipate that Delcath Systems will post -1.67 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on DCTH shares. HC Wainwright restated a “buy” rating and set a $22.00 target price on shares of Delcath Systems in a research note on Tuesday, August 6th. StockNews.com raised Delcath Systems from a “sell” rating to a “hold” rating in a research report on Friday, September 27th. Stephens restated an “overweight” rating and set a $25.00 price objective on shares of Delcath Systems in a research note on Tuesday, August 6th. Finally, Craig Hallum started coverage on Delcath Systems in a report on Friday, June 28th. They issued a “buy” rating and a $18.00 price objective on the stock.

Institutional Investors Weigh In On Delcath Systems

A number of hedge funds have recently made changes to their positions in DCTH. Levin Capital Strategies L.P. lifted its position in Delcath Systems by 12.2% during the 1st quarter. Levin Capital Strategies L.P. now owns 54,969 shares of the company’s stock worth $262,000 after acquiring an additional 5,969 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in Delcath Systems in the second quarter valued at approximately $370,000. Renaissance Technologies LLC bought a new position in shares of Delcath Systems during the second quarter worth $694,000. Marshall Wace LLP raised its holdings in shares of Delcath Systems by 7.0% during the second quarter. Marshall Wace LLP now owns 92,731 shares of the company’s stock worth $776,000 after acquiring an additional 6,066 shares during the period. Finally, Legato Capital Management LLC acquired a new stake in shares of Delcath Systems during the second quarter worth $966,000. Institutional investors own 61.12% of the company’s stock.

About Delcath Systems

Delcath Systems, Inc, an interventional oncology company, focuses on the treatment of primary and metastatic liver cancers in the United States and Europe. The company’s lead product candidate is HEPZATO KIT, a melphalan for injection/hepatic delivery system to administer high-dose chemotherapy to the liver while controlling systemic exposure and associated side effects.