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

Delcath Systems, Inc. (NASDAQ:DCTH) was the target of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 1,150,000 shares, a drop 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.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Canaccord Genuity Group restated a “buy” rating and issued a $21.00 price target on shares of Delcath Systems in a research report on Friday, October 18th. HC Wainwright reaffirmed a “buy” rating and set a $22.00 price objective on shares of Delcath Systems in a research note on Monday, November 11th. Stephens reaffirmed a “buy” rating on shares of Delcath Systems in a research note on Friday, October 18th. Finally, StockNews.com raised 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 given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $21.50.

Delcath Systems Price Performance

Shares of DCTH traded up $0.35 during midday trading on Monday, hitting $9.74. The stock had a trading volume of 485,015 shares, compared to its average volume of 277,389. The company has a 50 day simple moving average of $9.68 and a two-hundred day simple moving average of $8.54. Delcath Systems has a twelve month low of $2.47 and a twelve month high of $12.88. The firm has a market cap of $311.39 million, a price-to-earnings ratio of -7.21 and a beta of 0.75.

Hedge Funds Weigh In On Delcath Systems

Several hedge funds have recently modified their holdings of DCTH. Rosalind Advisors Inc. grew its holdings in shares of Delcath Systems by 155.1% in the 2nd quarter. Rosalind Advisors Inc. now owns 2,650,389 shares of the company’s stock valued at $22,184,000 after acquiring an additional 1,611,561 shares in the last quarter. BVF Inc. IL grew its holdings in shares of Delcath Systems by 23.1% in the 1st quarter. BVF Inc. IL now owns 1,202,067 shares of the company’s stock valued at $5,734,000 after acquiring an additional 225,918 shares in the last quarter. Polar Asset Management Partners Inc. bought a new position in shares of Delcath Systems in the 3rd quarter valued at about $1,594,000. Shellback Capital LP bought a new position in shares of Delcath Systems in the 2nd quarter valued at about $1,353,000. Finally, Vanguard Group Inc. grew its holdings in shares of 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. Institutional investors own 61.12% of the company’s stock.

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.