Delcath Systems (NASDAQ:DCTH) CEO Gerard Michel Acquires 11,500 Shares

Delcath Systems, Inc. (NASDAQ:DCTH) CEO Gerard Michel acquired 11,500 shares of the stock in a transaction dated Tuesday, November 11th. The shares were acquired at an average cost of $8.53 per share, with a total value of $98,095.00. Following the completion of the transaction, the chief executive officer owned 330,834 shares in the company, valued at approximately $2,822,014.02. This represents a 3.60% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Delcath Systems Stock Up 1.0%

DCTH traded up $0.09 on Thursday, reaching $8.68. The company’s stock had a trading volume of 592,551 shares, compared to its average volume of 651,478. The company has a market capitalization of $306.38 million, a price-to-earnings ratio of 173.60 and a beta of 0.81. Delcath Systems, Inc. has a fifty-two week low of $8.33 and a fifty-two week high of $18.23. The stock has a 50 day moving average of $10.60 and a two-hundred day moving average of $12.19.

Delcath Systems (NASDAQ:DCTH) last issued its earnings results on Tuesday, November 4th. The company reported $0.02 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.02. The business had revenue of $20.56 million during the quarter, compared to analysts’ expectations of $23.22 million. Delcath Systems had a net margin of 3.18% and a return on equity of 6.91%. As a group, analysts anticipate that Delcath Systems, Inc. will post -0.79 earnings per share for the current fiscal year.

Institutional Trading of Delcath Systems

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Rosalind Advisors Inc. lifted its stake in shares of Delcath Systems by 13.8% during the 2nd quarter. Rosalind Advisors Inc. now owns 3,300,389 shares of the company’s stock worth $44,885,000 after purchasing an additional 400,000 shares during the period. Vanguard Group Inc. lifted its position in Delcath Systems by 2.9% during the third quarter. Vanguard Group Inc. now owns 1,657,428 shares of the company’s stock worth $17,817,000 after buying an additional 46,693 shares during the period. Geode Capital Management LLC boosted its stake in Delcath Systems by 128.1% in the 2nd quarter. Geode Capital Management LLC now owns 703,171 shares of the company’s stock worth $9,565,000 after buying an additional 394,902 shares during the last quarter. Marshall Wace LLP purchased a new stake in Delcath Systems in the 2nd quarter valued at about $6,572,000. Finally, Propel Bio Management LLC increased its position in Delcath Systems by 94.0% during the third quarter. Propel Bio Management LLC now owns 438,509 shares of the company’s stock worth $4,714,000 after purchasing an additional 212,457 shares during the last quarter. 61.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on DCTH shares. Weiss Ratings lowered shares of Delcath Systems from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, November 7th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $21.00 target price on shares of Delcath Systems in a report on Tuesday, October 21st. Wall Street Zen cut shares of Delcath Systems from a “buy” rating to a “hold” rating in a report on Sunday, October 12th. Stephens reduced their price objective on shares of Delcath Systems from $25.00 to $18.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Finally, Craig Hallum reissued a “buy” rating and set a $20.00 target price on shares of Delcath Systems in a research note on Tuesday, October 21st. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $22.40.

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.