Delcath Systems (NASDAQ:DCTH) Director Sells 22,500 Shares of Company Stock

Key Points

• Director Bridget Martell sold 22,500 shares on November 12 at an average price of $21.71, for $488,475; the sale cut her position by 50%, leaving her with 22,500 shares.
• Delcath reported quarterly EPS of $0.17, beating estimates of a $0.09 loss, and revenue of $35.1 million versus the $26.0 million consensus.
• Analyst sentiment is broadly positive: Delcath has an average “Buy” rating and a $29.33 average price target, with recent target increases to $25 and $36.

Delcath Systems, Inc. (NASDAQ:DCTH - Get Free Report) Director Bridget Martell sold 22,500 shares of the business's stock in a transaction that occurred on Thursday, November 12th. The stock was sold at an average price of $21.71, for a total transaction of $488,475.00. Following the completion of the transaction, the director directly owned 22,500 shares of the company's stock, valued at $488,475. This trade represents a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Delcath Systems Price Performance

NASDAQ DCTH traded down $0.85 during midday trading on Friday, hitting $20.53. 675,133 shares of the company traded hands, compared to its average volume of 488,204. The company has a market cap of $714.24 million, a PE ratio of 128.31 and a beta of 0.62. The company's 50-day simple moving average is $15.80 and its 200-day simple moving average is $12.65. Delcath Systems, Inc. has a 52 week low of $8.12 and a 52 week high of $22.51.

Delcath Systems (NASDAQ:DCTH - Get Free Report) last announced its quarterly earnings results on Monday, November 9th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.09) by $0.26. The business had revenue of $35.10 million for the quarter, compared to the consensus estimate of $25.99 million. Delcath Systems had a return on equity of 5.56% and a net margin of 6.05%. On average, research analysts predict that Delcath Systems, Inc. will post 0.13 earnings per share for the current year.

Institutional Trading of Delcath Systems

A number of institutional investors have recently made changes to their positions in DCTH. Bank of New York Mellon Corp acquired a new position in Delcath Systems during the 2nd quarter valued at about $1,362,000. Russell Investments Group Ltd. raised its stake in Delcath Systems by 31.1% in the third quarter. Russell Investments Group Ltd. now owns 88,727 shares of the company's stock valued at $1,417,000 after buying an additional 21,069 shares during the last quarter. Bank of America Corp DE boosted its holdings in Delcath Systems by 54.0% in the first quarter. Bank of America Corp DE now owns 57,729 shares of the company's stock worth $536,000 after acquiring an additional 20,249 shares in the last quarter. Alps Advisors Inc. boosted its holdings in Delcath Systems by 30.3% in the third quarter. Alps Advisors Inc. now owns 45,640 shares of the company's stock worth $729,000 after acquiring an additional 10,600 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in Delcath Systems by 100.0% in the first quarter. Sei Investments Co. now owns 44,058 shares of the company's stock worth $409,000 after acquiring an additional 22,029 shares in the last quarter. Institutional investors and hedge funds own 61.12% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on DCTH shares. Weiss Ratings upgraded Delcath Systems from a "hold (c-)" rating to a "hold (c+)" rating in a research note on Thursday. BTIG Research increased their price target on shares of Delcath Systems from $21.00 to $25.00 and gave the company a "buy" rating in a research report on Monday. Zacks Research upgraded shares of Delcath Systems from a "hold" rating to a "strong-buy" rating in a report on Wednesday. HC Wainwright raised their price target on shares of Delcath Systems from $32.00 to $36.00 and gave the company a "buy" rating in a report on Tuesday. Finally, Wall Street Zen raised shares of Delcath Systems from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Delcath Systems currently has an average rating of "Buy" and an average target price of $29.33.

Key Delcath Systems News

Investors following DCTH have been watching these news items:

• Positive Sentiment: A recent quarterly report substantially exceeded expectations: Delcath reported EPS of $0.17 versus analysts’ forecast of a $0.09 loss, and revenue of $35.1 million versus the $26.0 million consensus. Earnings report
• Neutral Sentiment: The company is scheduled to appear on “Health Uncensored with Dr. Drew” in a segment about liver-directed cancer treatment; the announcement does not describe a business or clinical update. Media feature announcement
• Negative Sentiment: An analyst reduced a Q2 EPS forecast for Delcath, a modest negative signal alongside the more favorable revisions from HC Wainwright. EPS forecast reduction

About Delcath Systems

Delcath Systems, Inc. is an oncology company focused on liver-directed treatments for cancers that have spread to the liver. Its technology uses percutaneous hepatic perfusion, a procedure that temporarily isolates the liver's blood supply and circulates chemotherapy through the organ before filtering the blood and returning it to the patient. The company's HEPZATO KIT combines melphalan with a specialized delivery system. The U.S. Food and Drug Administration approved it for certain adults with unresectable metastatic uveal melanoma involving the liver.

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