Delcath Systems, Inc. (NASDAQ:DCTH) Sees Significant Increase in Short Interest

Key Points

• Delcath Systems experienced a significant 29.4% increase in short interest, rising to 2,820,000 shares as of July 31st, indicating heightened bearish sentiment among investors.
• Institutional ownership accounts for 61.12% of Delcath Systems, with notable hedge fund investments including Soleus Capital and Gilder Gagnon Howe adding new positions worth millions.
• Analysts are somewhat optimistic about the stock, with HC Wainwright raising its price target to $31.00 and four analysts rating the stock as a "Buy," though Wall Street Zen downgraded it to a "Hold."

Delcath Systems, Inc. (NASDAQ:DCTH - Get Free Report) was the target of a significant growth in short interest in the month of July. As of July 31st, there was short interest totaling 2,820,000 shares, agrowthof29.4% from the July 15th total of 2,180,000 shares. Based on an average trading volume of 774,800 shares, the days-to-cover ratio is presently 3.6 days. Approximately9.8% of the company's shares are sold short. Approximately9.8% of the company's shares are sold short. Based on an average trading volume of 774,800 shares, the days-to-cover ratio is presently 3.6 days.

Delcath Systems Price Performance

Delcath Systems stock traded up $0.23 during trading hours on Tuesday, hitting $11.12. The company had a trading volume of 359,826 shares, compared to its average volume of 849,254. The firm has a market capitalization of $388.98 million, a P/E ratio of 222.40 and a beta of 0.82. The firm's fifty day moving average is $11.70 and its 200-day moving average is $13.16. Delcath Systems has a fifty-two week low of $8.08 and a fifty-two week high of $18.23.

Delcath Systems (NASDAQ:DCTH - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.05. The firm had revenue of $24.16 million for the quarter, compared to analyst estimates of $22.84 million. Delcath Systems had a net margin of 3.18% and a return on equity of 6.91%. Analysts anticipate that Delcath Systems will post -0.79 earnings per share for the current year.

Institutional Trading of Delcath Systems

Several large investors have recently added to or reduced their stakes in the business. Nomura Holdings Inc. bought a new stake in Delcath Systems in the second quarter worth approximately $324,000. Tower Research Capital LLC TRC bought a new stake in Delcath Systems in the second quarter worth approximately $40,000. Rosalind Advisors Inc. grew its position in Delcath Systems by 13.8% in the second quarter. Rosalind Advisors Inc. now owns 3,300,389 shares of the company's stock worth $44,885,000 after acquiring an additional 400,000 shares in the last quarter. Man Group plc grew its position in Delcath Systems by 103.2% in the second quarter. Man Group plc now owns 88,487 shares of the company's stock worth $1,203,000 after acquiring an additional 44,932 shares in the last quarter. Finally, Engineers Gate Manager LP grew its position in Delcath Systems by 237.3% in the second quarter. Engineers Gate Manager LP now owns 69,022 shares of the company's stock worth $939,000 after acquiring an additional 48,561 shares in the last quarter. 61.12% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Stephens restated an "overweight" rating and set a $25.00 price target on shares of Delcath Systems in a report on Monday, June 23rd. Wall Street Zen lowered shares of Delcath Systems from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. Finally, HC Wainwright boosted their price target on shares of Delcath Systems from $29.00 to $31.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Four research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $24.50.

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.