Delcath Systems, Inc. (NASDAQ:DCTH) Short Interest Update

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 increase in short interest in July. As of July 31st, there was short interest totaling 2,820,000 shares, anincreaseof29.4% from the July 15th total of 2,180,000 shares. Based on an average daily trading volume, of 774,800 shares, the days-to-cover ratio is currently 3.6 days. Currently,9.8% of the shares of the stock are sold short. Currently,9.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 774,800 shares, the days-to-cover ratio is currently 3.6 days.

Institutional Trading of Delcath Systems

Hedge funds have recently added to or reduced their stakes in the business. Soleus Capital Management L.P. acquired a new position in shares of Delcath Systems in the 4th quarter valued at about $9,644,000. Gilder Gagnon Howe & Co. LLC acquired a new position in shares of Delcath Systems in the 4th quarter valued at about $7,371,000. Marshall Wace LLP acquired a new position in shares of Delcath Systems in the 2nd quarter valued at about $6,572,000. Rosalind Advisors Inc. lifted its stake in shares of Delcath Systems by 13.8% in the 2nd quarter. Rosalind Advisors Inc. now owns 3,300,389 shares of the company's stock valued at $44,885,000 after purchasing an additional 400,000 shares in the last quarter. Finally, Invesco Ltd. acquired a new position in shares of Delcath Systems in the 1st quarter valued at about $5,084,000. 61.12% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently commented on DCTH shares. HC Wainwright increased their price objective on Delcath Systems from $29.00 to $31.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Stephens reaffirmed an "overweight" rating and set a $25.00 price objective on shares of Delcath Systems in a research note on Monday, June 23rd. Finally, Wall Street Zen lowered Delcath Systems from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $24.50.

Delcath Systems Trading Down 2.2%

Shares of NASDAQ:DCTH opened at $10.33 on Thursday. The stock's 50-day moving average price is $12.05 and its two-hundred day moving average price is $13.33. Delcath Systems has a 12-month low of $7.83 and a 12-month high of $18.23. The firm has a market cap of $361.34 million, a price-to-earnings ratio of 206.60 and a beta of 0.82.

Delcath Systems (NASDAQ:DCTH - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.02 by $0.05. Delcath Systems had a return on equity of 6.91% and a net margin of 3.18%.The firm had revenue of $24.16 million for the quarter, compared to analyst estimates of $22.84 million. As a group, research analysts forecast that Delcath Systems will post -0.79 earnings per share for the current fiscal year.

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.

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