Short Interest in Delcath Systems, Inc. (NASDAQ:DCTH) Drops By 8.0%

Delcath Systems, Inc. (NASDAQ:DCTH) was the target of a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 1,150,000 shares, a decrease of 8.0% from the October 15th total of 1,250,000 shares. Based on an average daily trading volume, of 327,800 shares, the days-to-cover ratio is presently 3.5 days.

Analysts Set New Price Targets

Several equities analysts have recently commented on DCTH shares. Canaccord Genuity Group restated a “buy” rating and set a $21.00 price target on shares of Delcath Systems in a research note on Friday, October 18th. Stephens reissued a “buy” rating on shares of Delcath Systems in a research report on Friday, October 18th. StockNews.com raised shares of Delcath Systems from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. Finally, HC Wainwright reissued a “buy” rating and set a $22.00 price objective on shares of Delcath Systems in a report on Monday, November 11th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.50.

Delcath Systems Price Performance

Delcath Systems stock traded up $0.35 during trading hours on Monday, reaching $9.74. The stock had a trading volume of 485,015 shares, compared to its average volume of 277,389. The company has a market cap of $311.39 million, a price-to-earnings ratio of -6.96 and a beta of 0.75. The business’s 50 day moving average price is $9.68 and its 200-day moving average price is $8.51. Delcath Systems has a 52 week low of $2.47 and a 52 week high of $12.88.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC acquired a new stake in Delcath Systems in the second quarter worth about $694,000. Vanguard Group Inc. boosted its stake in Delcath Systems by 31.0% in the 1st quarter. Vanguard Group Inc. now owns 683,686 shares of the company’s stock worth $3,261,000 after purchasing an additional 161,678 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Delcath Systems during the 2nd quarter worth approximately $370,000. Shellback Capital LP acquired a new position in Delcath Systems during the 2nd quarter valued at approximately $1,353,000. Finally, Legato Capital Management LLC acquired a new position in Delcath Systems during the 2nd quarter valued at approximately $966,000. 61.12% of the stock is currently owned by hedge funds and other institutional investors.

Delcath Systems Company Profile

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.