Propel Bio Management LLC Acquires 160,600 Shares of Delcath Systems, Inc. $DCTH

Key Points

• Propel Bio Management LLC significantly increased its stake in Delcath Systems by 944.7%, owning 177,600 shares worth approximately $2.26 million.
• Several hedge funds have also shown interest, with notable increases in shares by NBC Securities Inc. and others, leading to 61.12% of Delcath's stock being owned by institutional investors.
• Delcath's stock has an average buy rating from analysts and an average target price of $24.50, with Stephens maintaining an "overweight" rating.

Propel Bio Management LLC grew its position in shares of Delcath Systems, Inc. (NASDAQ:DCTH - Free Report) by 944.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 177,600 shares of the company's stock after buying an additional 160,600 shares during the quarter. Delcath Systems makes up about 2.6% of Propel Bio Management LLC's investment portfolio, making the stock its 10th largest holding. Propel Bio Management LLC owned approximately 0.51% of Delcath Systems worth $2,261,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Palisades Investment Partners LLC lifted its holdings in Delcath Systems by 1.0% in the 1st quarter. Palisades Investment Partners LLC now owns 171,084 shares of the company's stock worth $2,178,000 after purchasing an additional 1,757 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Delcath Systems by 2.1% during the first quarter. Principal Financial Group Inc. now owns 117,620 shares of the company's stock worth $1,497,000 after purchasing an additional 2,437 shares during the last quarter. Quarry LP bought a new position in Delcath Systems in the fourth quarter valued at about $34,000. OMERS ADMINISTRATION Corp boosted its holdings in Delcath Systems by 7.5% in the first quarter. OMERS ADMINISTRATION Corp now owns 51,600 shares of the company's stock valued at $657,000 after acquiring an additional 3,600 shares during the last quarter. Finally, Inlight Wealth Management LLC acquired a new position in Delcath Systems in the first quarter valued at about $85,000. 61.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Delcath Systems Stock Up 4.9%

Shares of NASDAQ DCTH traded up $0.54 during trading on Friday, reaching $11.64. The company had a trading volume of 405,064 shares, compared to its average volume of 573,668. The company's fifty day moving average price is $11.29 and its 200-day moving average price is $12.93. Delcath Systems, Inc. has a 12 month low of $8.08 and a 12 month high of $18.23. The stock has a market cap of $407.24 million, a P/E ratio of 233.58 and a beta of 0.85.

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

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.