Polar Asset Management Partners Inc. Sells 144,900 Shares of 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. cut its position in Delcath Systems, Inc. (NASDAQ:DCTH - Free Report) by 82.1% during the 1st quarter, according to the company in its most recent disclosure 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 about 0.09% of Delcath Systems worth $402,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of DCTH. Soleus Capital Management L.P. acquired a new stake in Delcath Systems in the fourth quarter worth $9,644,000. Invesco Ltd. acquired a new stake in Delcath Systems in the first quarter worth $5,084,000. Vanguard Group Inc. raised its holdings in Delcath Systems by 13.8% in the first quarter. Vanguard Group Inc. now owns 1,394,028 shares of the company's stock worth $17,746,000 after purchasing an additional 169,260 shares during the period. Jane Street Group LLC raised its holdings in Delcath Systems by 1,364.6% in the fourth quarter. Jane Street Group LLC now owns 178,797 shares of the company's stock worth $2,153,000 after purchasing an additional 166,589 shares during the period. Finally, Cubist Systematic Strategies LLC raised its holdings in Delcath Systems by 140.7% in the first quarter. Cubist Systematic Strategies LLC now owns 282,538 shares of the company's stock worth $3,597,000 after purchasing an additional 165,134 shares during the period. 61.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Delcath Systems Stock Performance

Delcath Systems stock traded down $0.48 during mid-day trading on Wednesday, reaching $11.12. The company's stock had a trading volume of 536,595 shares, compared to its average volume of 573,815. Delcath Systems, Inc. has a 12 month low of $8.08 and a 12 month high of $18.23. The business's 50 day simple moving average is $11.19 and its 200 day simple moving average is $12.83. The company has a market capitalization of $388.99 million, a price-to-earnings ratio of 222.40 and a beta of 0.85.

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

Delcath Systems 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.