Delcath Systems, Inc. (NASDAQ:DCTH) Short Interest Down 7.6% in August

Delcath Systems, Inc. (NASDAQ:DCTH) was the recipient of a significant drop in short interest during the month of August. As of August 15th, there was short interest totalling 1,460,000 shares, a drop of 7.6% from the July 31st total of 1,580,000 shares. Based on an average trading volume of 233,100 shares, the days-to-cover ratio is presently 6.3 days.

Delcath Systems Stock Performance

NASDAQ:DCTH opened at $10.56 on Wednesday. Delcath Systems has a 52 week low of $2.25 and a 52 week high of $11.74. The firm has a market cap of $293.46 million, a price-to-earnings ratio of -3.98 and a beta of 0.64. The firm’s 50-day simple moving average is $8.39 and its 200 day simple moving average is $6.60.

Delcath Systems (NASDAQ:DCTH) last released its quarterly earnings results on Monday, August 5th. The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.12). Delcath Systems had a negative return on equity of 312.48% and a negative net margin of 474.22%. The business had revenue of $7.77 million for the quarter, compared to the consensus estimate of $5.00 million. During the same period in the prior year, the business posted ($0.58) earnings per share. Sell-side analysts anticipate that Delcath Systems will post -1.33 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on DCTH. HC Wainwright reiterated a “buy” rating and issued a $22.00 price target on shares of Delcath Systems in a research note on Tuesday, August 6th. Stephens restated an “overweight” rating and set a $25.00 target price on shares of Delcath Systems in a research note on Tuesday, August 6th. Craig Hallum began coverage on shares of Delcath Systems in a research note on Friday, June 28th. They set a “buy” rating and a $18.00 target price for the company. Finally, StockNews.com upgraded shares of Delcath Systems from a “sell” rating to a “hold” rating in a research note on Friday, August 16th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Delcath Systems presently has an average rating of “Moderate Buy” and a consensus target price of $21.50.

Hedge Funds Weigh In On Delcath Systems

Several hedge funds have recently bought and sold shares of the company. Worth Venture Partners LLC acquired a new stake in Delcath Systems during the 4th quarter worth approximately $1,224,000. AIGH Capital Management LLC acquired a new stake in Delcath Systems during the 4th quarter worth approximately $4,918,000. ADAR1 Capital Management LLC acquired a new stake in Delcath Systems during the 4th quarter worth approximately $962,000. Vanguard Group Inc. boosted its position in Delcath Systems by 31.0% during the 1st quarter. Vanguard Group Inc. now owns 683,686 shares of the company’s stock worth $3,261,000 after buying an additional 161,678 shares during the period. Finally, BVF Inc. IL boosted its position in Delcath Systems by 23.1% during the 1st quarter. BVF Inc. IL now owns 1,202,067 shares of the company’s stock worth $5,734,000 after buying an additional 225,918 shares during the period. 61.12% of the stock is owned by 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.