108,159 Shares in Delcath Systems, Inc. $DCTH Bought by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon initiated a position in Delcath Systems, buying 108,159 shares valued at approximately $1.36 million, while institutional investors collectively own 61.12% of the company.
• Delcath exceeded quarterly expectations, reporting $0.07 EPS versus a $0.09 loss estimate and revenue of $29.13 million against the $26.25 million consensus forecast.
• Analyst sentiment is broadly positive: the stock has a “Moderate Buy” consensus rating and an average price target of $23.17, above its reported $15.98 price.

Bank of New York Mellon Corp bought a new position in shares of Delcath Systems, Inc. (NASDAQ:DCTH - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 108,159 shares of the company's stock, valued at approximately $1,362,000. Bank of New York Mellon Corp owned 0.31% of Delcath Systems as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Nantahala Capital Management LLC purchased a new position in Delcath Systems during the third quarter worth about $7,164,000. Marshall Wace LLP purchased a new stake in shares of Delcath Systems during the 2nd quarter worth $6,572,000. Rosalind Advisors Inc. grew its stake in shares of Delcath Systems by 13.8% during the 2nd quarter. Rosalind Advisors Inc. now owns 3,300,389 shares of the company's stock worth $44,885,000 after purchasing an additional 400,000 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Delcath Systems by 116.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 587,678 shares of the company's stock valued at $5,936,000 after purchasing an additional 315,583 shares in the last quarter. Finally, Lane Generational LLC acquired a new stake in shares of Delcath Systems in the fourth quarter valued at about $1,997,000. Hedge funds and other institutional investors own 61.12% of the company's stock.

Delcath Systems Price Performance

NASDAQ DCTH opened at $15.98 on Thursday. The company has a market cap of $554.51 million, a P/E ratio of 1,599.60 and a beta of 0.57. Delcath Systems, Inc. has a 12 month low of $8.12 and a 12 month high of $17.42. The company has a 50-day moving average of $14.66 and a 200-day moving average of $11.99.

Delcath Systems (NASDAQ:DCTH - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.16. The company had revenue of $29.13 million during the quarter, compared to analysts' expectations of $26.25 million. Delcath Systems had a net margin of 0.56% and a return on equity of 0.46%. As a group, equities research analysts anticipate that Delcath Systems, Inc. will post -0.17 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Delcath Systems from a "sell (d)" rating to a "sell (d+)" rating in a research report on Friday, September 4th. HC Wainwright reissued a "buy" rating and issued a $32.00 target price (up from $30.00) on shares of Delcath Systems in a report on Friday, August 7th. Wall Street Zen upgraded Delcath Systems from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. BTIG Research lifted their price target on Delcath Systems from $17.00 to $21.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Finally, Zacks Research raised Delcath Systems from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Delcath Systems presently has a consensus rating of "Moderate Buy" and an average price target of $23.17.

Delcath Systems Profile

Delcath Systems, Inc is a specialty pharmaceutical and medical technology company focused on the development and commercialization of its proprietary Hepatic CHEMOSAT® Delivery System, designed to deliver high-dose chemotherapeutic agents directly to the liver while minimizing systemic exposure. The company's core technology performs isolated hepatic perfusion, enabling oncologists to administer concentrated melphalan to patients with primary and metastatic liver tumors, including those arising from ocular melanoma.

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