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

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of DCTH. Geode Capital Management LLC lifted its stake in shares of Delcath Systems by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 251,895 shares of the company’s stock valued at $2,275,000 after purchasing an additional 7,298 shares during the last quarter. Barclays PLC purchased a new stake in Delcath Systems in the 3rd quarter valued at about $104,000. Jane Street Group LLC acquired a new position in Delcath Systems in the third quarter valued at about $110,000. State Street Corp boosted its stake in Delcath Systems by 12.4% during the third quarter. State Street Corp now owns 85,457 shares of the company’s stock worth $772,000 after buying an additional 9,400 shares during the period. Finally, Polar Asset Management Partners Inc. acquired a new stake in shares of Delcath Systems during the third quarter valued at about $1,594,000. Hedge funds and other institutional investors own 61.12% of the company’s stock.

Analyst Ratings Changes

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

Delcath Systems Price Performance

NASDAQ DCTH traded up $0.35 during trading hours on Monday, hitting $9.74. 485,015 shares of the company’s stock traded hands, compared to its average volume of 277,389. The company has a market capitalization of $311.39 million, a PE ratio of -6.96 and a beta of 0.75. Delcath Systems has a 52-week low of $2.47 and a 52-week high of $12.88. The firm’s 50-day moving average is $9.68 and its 200-day moving average is $8.51.

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.