Short Interest in Delcath Systems, Inc. (NASDAQ:DCTH) Drops By 20.5%

Delcath Systems, Inc. (NASDAQ:DCTH) saw a large decline in short interest in the month of February. As of February 28th, there was short interest totalling 700,600 shares, a decline of 20.5% from the February 13th total of 881,500 shares. Based on an average daily trading volume, of 401,400 shares, the days-to-cover ratio is presently 1.7 days. Currently, 2.7% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Craig Hallum boosted their price objective on shares of Delcath Systems from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Friday, January 17th. HC Wainwright boosted their price objective on shares of Delcath Systems from $22.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, March 7th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Delcath Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.75.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of DCTH. Soleus Capital Management L.P. purchased a new stake in shares of Delcath Systems during the fourth quarter valued at approximately $9,644,000. Vivo Capital LLC increased its stake in Delcath Systems by 71.4% during the fourth quarter. Vivo Capital LLC now owns 1,708,579 shares of the company’s stock valued at $20,571,000 after purchasing an additional 711,574 shares during the last quarter. Gilder Gagnon Howe & Co. LLC acquired a new position in shares of Delcath Systems during the fourth quarter valued at $7,371,000. Polar Asset Management Partners Inc. acquired a new position in shares of Delcath Systems during the third quarter valued at $1,594,000. Finally, Jane Street Group LLC boosted its holdings in shares of Delcath Systems by 1,364.6% during the fourth quarter. Jane Street Group LLC now owns 178,797 shares of the company’s stock valued at $2,153,000 after acquiring an additional 166,589 shares during the period. Hedge funds and other institutional investors own 61.12% of the company’s stock.

Delcath Systems Stock Performance

NASDAQ DCTH traded up $0.17 during trading hours on Wednesday, reaching $13.61. The company’s stock had a trading volume of 509,894 shares, compared to its average volume of 332,056. The stock has a market cap of $454.65 million, a PE ratio of -10.08 and a beta of 0.82. Delcath Systems has a fifty-two week low of $4.12 and a fifty-two week high of $16.97. The company’s 50-day moving average is $14.44 and its two-hundred day moving average is $11.85.

Delcath Systems (NASDAQ:DCTH) last released its earnings results on Thursday, March 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). The firm had revenue of $15.10 million during the quarter, compared to analysts’ expectations of $14.96 million. Delcath Systems had a negative net margin of 150.70% and a negative return on equity of 338.16%. During the same quarter last year, the company posted ($0.48) earnings per share. Equities analysts expect that Delcath Systems will post -0.79 earnings per share for the current fiscal year.

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.