JPMorgan Chase & Co. Decreases Position in Delcath Systems, Inc. $DCTH

Key Points

• JPMorgan Chase & Co. cut its stake in Delcath Systems by 92.6% in Q3, selling 155,744 shares and retaining 12,501 shares worth about $134,000.
• Analysts are mixed but lean positive with a consensus rating of "Moderate Buy" and an average price target of $22.50, despite individual ratings ranging from sell to buy.
• Delcath beat quarterly EPS estimates (reported ($0.05) vs. expected ($0.06)) with $20.73M revenue; shares trade near $10.86, market cap ≈ $374M and a P/E around 155.

JPMorgan Chase & Co. cut its position in Delcath Systems, Inc. (NASDAQ:DCTH - Free Report) by 92.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 12,501 shares of the company's stock after selling 155,744 shares during the period. JPMorgan Chase & Co.'s holdings in Delcath Systems were worth $134,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. California State Teachers Retirement System purchased a new position in Delcath Systems in the second quarter worth about $26,000. Russell Investments Group Ltd. purchased a new position in Delcath Systems in the third quarter worth about $29,000. Tower Research Capital LLC TRC purchased a new position in Delcath Systems in the second quarter worth about $40,000. Legal & General Group Plc purchased a new position in Delcath Systems in the second quarter worth about $46,000. Finally, Capital Advisors Wealth Management LLC raised its holdings in Delcath Systems by 12.5% in the third quarter. Capital Advisors Wealth Management LLC now owns 85,500 shares of the company's stock worth $919,000 after buying an additional 9,500 shares during the last quarter. 61.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on DCTH. BTIG Research reduced their price target on shares of Delcath Systems from $23.00 to $19.00 and set a "buy" rating for the company in a research note on Thursday, February 26th. HC Wainwright reiterated a "buy" rating and issued a $30.00 price target on shares of Delcath Systems in a research note on Friday, January 9th. Wall Street Zen lowered shares of Delcath Systems from a "buy" rating to a "hold" rating in a research note on Saturday, February 28th. Evercore set a $27.00 price target on shares of Delcath Systems in a research note on Thursday, February 26th. Finally, Weiss Ratings reiterated a "sell (d+)" rating on shares of Delcath Systems in a research note on Monday, December 29th. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Delcath Systems has a consensus rating of "Moderate Buy" and an average price target of $22.50.

Delcath Systems Trading Up 0.3%

Shares of NASDAQ DCTH opened at $10.86 on Friday. The firm has a 50 day moving average of $9.56 and a 200 day moving average of $9.85. The firm has a market capitalization of $374.24 million, a price-to-earnings ratio of 155.14 and a beta of 0.44. Delcath Systems, Inc. has a 12-month low of $8.12 and a 12-month high of $18.23.

Delcath Systems (NASDAQ:DCTH - Get Free Report) last announced its earnings results on Thursday, February 26th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.01. The company had revenue of $20.73 million during the quarter, compared to analyst estimates of $20.35 million. Delcath Systems had a net margin of 3.17% and a return on equity of 2.63%. Sell-side analysts predict that Delcath Systems, Inc. will post -0.79 EPS for the current year.

Delcath Systems Company 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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