Simplify Asset Management Inc. Boosts Holdings in Delcath Systems, Inc. $DCTH

Simplify Asset Management Inc. raised its holdings in Delcath Systems, Inc. (NASDAQ:DCTH) by 144.9% during the 3rd quarter, Holdings Channel reports. The firm owned 261,126 shares of the company’s stock after purchasing an additional 154,497 shares during the quarter. Simplify Asset Management Inc.’s holdings in Delcath Systems were worth $2,807,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Marshall Wace LLP purchased a new position in shares of Delcath Systems during the 2nd quarter worth approximately $6,572,000. Rosalind Advisors Inc. grew its holdings in Delcath Systems by 13.8% during the 2nd quarter. Rosalind Advisors Inc. now owns 3,300,389 shares of the company’s stock valued at $44,885,000 after buying an additional 400,000 shares during the last quarter. Geode Capital Management LLC grew its holdings in Delcath Systems by 128.1% during the 2nd quarter. Geode Capital Management LLC now owns 703,171 shares of the company’s stock valued at $9,565,000 after buying an additional 394,902 shares during the last quarter. Jump Financial LLC increased its position in Delcath Systems by 604.9% during the second quarter. Jump Financial LLC now owns 197,466 shares of the company’s stock worth $2,686,000 after buying an additional 169,453 shares in the last quarter. Finally, Cubist Systematic Strategies LLC raised its holdings in shares of Delcath Systems by 140.7% in the first quarter. Cubist Systematic Strategies LLC now owns 282,538 shares of the company’s stock worth $3,597,000 after acquiring an additional 165,134 shares during the last quarter. 61.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on DCTH. Craig Hallum reaffirmed a “buy” rating and set a $20.00 price objective on shares of Delcath Systems in a research note on Tuesday, October 21st. Weiss Ratings restated a “sell (d+)” rating on shares of Delcath Systems in a report on Monday, December 22nd. Stephens lowered their price target on shares of Delcath Systems from $25.00 to $18.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. BTIG Research reissued a “buy” rating and issued a $23.00 price objective on shares of Delcath Systems in a research report on Tuesday, November 4th. Finally, Wall Street Zen lowered shares of Delcath Systems from a “buy” rating to a “hold” rating in a research report on Sunday, October 12th. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.40.

Insiders Place Their Bets

In other news, CEO Gerard J. Michel bought 11,500 shares of Delcath Systems stock in a transaction that occurred on Tuesday, November 11th. The shares were purchased at an average price of $8.53 per share, for a total transaction of $98,095.00. Following the completion of the acquisition, the chief executive officer owned 330,834 shares of the company’s stock, valued at $2,822,014.02. The trade was a 3.60% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 17.94% of the company’s stock.

Delcath Systems Price Performance

DCTH opened at $10.17 on Tuesday. Delcath Systems, Inc. has a 12 month low of $8.12 and a 12 month high of $18.23. The business has a 50-day moving average of $9.59 and a two-hundred day moving average of $10.87. The stock has a market capitalization of $359.10 million, a price-to-earnings ratio of 1,017.00 and a beta of 0.41.

Delcath Systems (NASDAQ:DCTH) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.02 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.02. Delcath Systems had a net margin of 1.50% and a return on equity of 7.02%. The company had revenue of $20.56 million for the quarter, compared to the consensus estimate of $23.22 million. Equities research analysts anticipate that Delcath Systems, Inc. will post -0.79 earnings per share for the current year.

Delcath Systems announced that its Board of Directors has initiated a share buyback program on Thursday, November 20th that permits the company to buyback $25.00 million in shares. This buyback authorization permits the company to buy up to 8.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Delcath Systems Company Profile

Delcath Systems, Inc is a specialty pharmaceutical and medical technology company focused on the development and commercialization of its proprietary Hepatic CHEMOSAT® Delivery System, designed to deliver high-dose chemotherapeutic agents directly to the liver while minimizing systemic exposure. The company’s core technology performs isolated hepatic perfusion, enabling oncologists to administer concentrated melphalan to patients with primary and metastatic liver tumors, including those arising from ocular melanoma.