Polar Asset Management Partners Inc. Decreases Stock Holdings in Delcath Systems, Inc. $DCTH

Key Points

• Polar Asset Management Partners Inc. has reduced its stake in Delcath Systems, Inc. by 82.1%, now owning approximately 0.09% of the company valued at $402,000.
• In contrast, Vanguard Group Inc. increased its holdings by 13.8%, now owning over 1.39 million shares worth around $17.75 million, indicating significant interest from institutional investors.
• Delcath Systems recently reported better-than-expected earnings with an EPS of $0.07, surpassing estimates, which has prompted adjustments in analyst ratings and price targets.

Polar Asset Management Partners Inc. lessened its stake in shares of Delcath Systems, Inc. (NASDAQ:DCTH - Free Report) by 82.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 31,600 shares of the company's stock after selling 144,900 shares during the period. Polar Asset Management Partners Inc. owned approximately 0.09% of Delcath Systems worth $402,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Inlight Wealth Management LLC bought a new position in Delcath Systems in the 1st quarter valued at $85,000. Graham Capital Management L.P. bought a new position in Delcath Systems in the 4th quarter valued at $123,000. NBC Securities Inc. grew its position in Delcath Systems by 99,900.0% in the 1st quarter. NBC Securities Inc. now owns 10,000 shares of the company's stock valued at $127,000 after acquiring an additional 9,990 shares during the last quarter. PharVision Advisers LLC bought a new position in Delcath Systems in the 4th quarter valued at $129,000. Finally, Man Group plc bought a new position in Delcath Systems in the 4th quarter valued at $215,000. Institutional investors own 61.12% of the company's stock.

Delcath Systems Trading Down 3.9%

Shares of DCTH traded down $0.43 during midday trading on Friday, reaching $10.70. 206,905 shares of the stock were exchanged, compared to its average volume of 570,452. Delcath Systems, Inc. has a 52 week low of $8.08 and a 52 week high of $18.23. The company's 50 day moving average is $11.13 and its two-hundred day moving average is $12.80. The company has a market capitalization of $374.18 million, a P/E ratio of 215.10 and a beta of 0.85.

Delcath Systems (NASDAQ:DCTH - Get Free Report) last posted 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 business had revenue of $24.16 million for the quarter, compared to the consensus estimate of $22.84 million. On average, sell-side analysts expect that Delcath Systems, Inc. will post -0.79 EPS for the current year.

Wall Street Analyst Weigh In

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

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.