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

Delcath Systems, Inc. (NASDAQ:DCTH) was the recipient of a significant decline in short interest in 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 days-to-cover ratio is presently 3.5 days.

Wall Street Analysts Forecast Growth

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

Delcath Systems Stock Performance

Shares of DCTH traded up $0.35 during trading hours on Monday, hitting $9.74. 485,015 shares of the company were exchanged, compared to its average volume of 277,389. The company has a market cap of $311.39 million, a PE ratio of -7.21 and a beta of 0.75. The firm’s 50 day moving average is $9.68 and its 200-day moving average is $8.54. Delcath Systems has a 52 week low of $2.47 and a 52 week high of $12.88.

Institutional Trading of Delcath Systems

Several large investors have recently made changes to their positions in DCTH. Renaissance Technologies LLC acquired a new position in shares of Delcath Systems during the 2nd quarter worth about $694,000. Vanguard Group Inc. raised its holdings in Delcath Systems by 31.0% in the 1st quarter. Vanguard Group Inc. now owns 683,686 shares of the company’s stock valued at $3,261,000 after acquiring an additional 161,678 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in Delcath Systems in the 2nd quarter valued at approximately $370,000. Shellback Capital LP acquired a new position in Delcath Systems in the 2nd quarter valued at approximately $1,353,000. Finally, Legato Capital Management LLC acquired a new position in shares of Delcath Systems in the 2nd quarter worth approximately $966,000. Institutional investors own 61.12% of the company’s stock.

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.