Key Points
- Director Bridget Martell sold 22,500 shares for $488,475 at an average price of $21.71, reducing her Delcath Systems stake by 50% to 22,500 shares.
- Delcath reported quarterly EPS of $0.17, beating expectations for a $0.09 loss, and revenue of $35.1 million versus the $26.0 million consensus.
- Analyst sentiment was broadly positive: the stock had a consensus “Buy” rating and an average price target of $29.33.
Delcath Systems, Inc. (NASDAQ:DCTH - Get Free Report) Director Bridget Martell sold 22,500 shares of the 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 sale, the director owned 22,500 shares in the company, valued at $488,475. This represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Delcath Systems Price Performance
NASDAQ:DCTH traded down $0.83 during mid-day trading on Friday, reaching $20.55. The stock had a trading volume of 675,186 shares, compared to its average volume of 734,330. Delcath Systems, Inc. has a 12 month low of $8.12 and a 12 month high of $22.51. The stock has a market capitalization of $714.93 million, a PE ratio of 128.44 and a beta of 0.62. The stock has a 50-day simple moving average of $15.88 and a two-hundred day simple moving average of $12.70.
Delcath Systems (NASDAQ:DCTH - Get Free Report) last released its earnings results on Monday, November 9th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.26. The firm had revenue of $35.10 million during the quarter, compared to analysts' expectations of $25.99 million. Delcath Systems had a return on equity of 5.56% and a net margin of 6.05%. Equities analysts expect that Delcath Systems, Inc. will post 0.13 EPS for the current year.
Institutional Trading of Delcath Systems
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Entropy Technologies LP bought a new position in shares of Delcath Systems in the 3rd quarter valued at $328,000. Jump Financial LLC boosted its holdings in shares of Delcath Systems by 6.3% during the 3rd quarter. Jump Financial LLC now owns 93,589 shares of the company's stock valued at $1,495,000 after acquiring an additional 5,554 shares in the last quarter. Marshall Wace LLP raised its position in Delcath Systems by 69.8% in the third quarter. Marshall Wace LLP now owns 371,893 shares of the company's stock valued at $5,939,000 after purchasing an additional 152,930 shares during the last quarter. Russell Investments Group Ltd. raised its position 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 purchasing an additional 21,069 shares during the last quarter. Finally, Alps Advisors Inc. boosted its stake in shares of Delcath Systems by 30.3% during the third quarter. Alps Advisors Inc. now owns 45,640 shares of the company's stock valued at $729,000 after purchasing an additional 10,600 shares in the last quarter. Institutional investors own 61.12% of the company's stock.
Analyst Ratings Changes
Several brokerages recently weighed in on DCTH. Weiss Ratings upgraded Delcath Systems from a "hold (c-)" rating to a "hold (c+)" rating in a research report on Thursday. Wall Street Zen upgraded Delcath Systems from a "buy" rating to a "strong-buy" rating in a research report on Saturday. BTIG Research boosted their target price on Delcath Systems from $21.00 to $25.00 and gave the stock a "buy" rating in a research note on Monday, November 9th. Zacks Research raised shares of Delcath Systems from a "hold" rating to a "strong-buy" rating in a report on Wednesday. Finally, 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 research note on Tuesday, November 10th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $29.33.
Read Our Latest Research Report on DCTH
Recent Delcath Systems Headlines
Here are a few of the latest headlines about DCTH:
- Positive Sentiment: Recent coverage highlighted better-than-expected earnings; the provided results show EPS of $0.17 versus a $0.09 loss expected and revenue of $35.1 million versus a $26.0 million consensus. Earnings coverage
- Negative Sentiment: Director Bridget A. Martell sold 22,500 shares for about $488,475, cutting her stake by 50%. Insider sales can raise concern, though the filing does not state the reason for the transaction. SEC Form 4
- Negative Sentiment: A separate report said an analyst reduced its Q2 EPS forecast; details of the revised estimate were not provided. Analyst forecast report
Delcath Systems Company Profile
(
Get Free Report)
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
