Millennium Management LLC Purchases 109,568 Shares of Delcath Systems, Inc. (NASDAQ:DCTH)

Millennium Management LLC lifted its position in Delcath Systems, Inc. (NASDAQ:DCTH - Free Report) by 53.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 314,675 shares of the company's stock after buying an additional 109,568 shares during the period. Millennium Management LLC owned approximately 0.98% of Delcath Systems worth $3,789,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quarry LP purchased a new position in shares of Delcath Systems in the 4th quarter worth $34,000. Quantbot Technologies LP purchased a new position in shares of Delcath Systems in the 4th quarter worth $66,000. Graham Capital Management L.P. purchased a new position in shares of Delcath Systems in the 4th quarter worth $123,000. Private Advisor Group LLC purchased a new position in shares of Delcath Systems in the 4th quarter worth $153,000. Finally, Charles Schwab Investment Management Inc. purchased a new position in shares of Delcath Systems in the 4th quarter worth $156,000. 61.12% of the stock is currently owned by hedge funds and other institutional investors.

Delcath Systems Trading Up 1.9%

NASDAQ DCTH traded up $0.30 on Wednesday, hitting $16.38. 331,353 shares of the company traded hands, compared to its average volume of 379,367. The business's 50 day moving average price is $13.48 and its 200-day moving average price is $13.31. The company has a market capitalization of $570.45 million, a price-to-earnings ratio of -12.13 and a beta of 0.95. Delcath Systems, Inc. has a 52-week low of $6.42 and a 52-week high of $18.23.

Delcath Systems (NASDAQ:DCTH - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.03 EPS for the quarter, missing analysts' consensus estimates of $0.10 by ($0.07). The business had revenue of $19.80 million for the quarter, compared to the consensus estimate of $16.83 million. Delcath Systems had a negative net margin of 150.70% and a negative return on equity of 338.16%. As a group, sell-side analysts predict that Delcath Systems, Inc. will post -0.79 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on DCTH shares. Wall Street Zen downgraded Delcath Systems from a "strong-buy" rating to a "buy" rating in a research report on Sunday. HC Wainwright reiterated a "buy" rating and set a $29.00 target price (up from $24.00) on shares of Delcath Systems in a research report on Friday, May 23rd. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $24.00.

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.