476,160 Shares in Delcath Systems, Inc. $DCTH Bought by Divisadero Street Capital Management LP

Divisadero Street Capital Management LP purchased a new stake in shares of Delcath Systems, Inc. (NASDAQ:DCTH) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 476,160 shares of the company’s stock, valued at approximately $5,119,000.

Several other institutional investors have also recently made changes to their positions in DCTH. Boothbay Fund Management LLC grew its stake in shares of Delcath Systems by 146.9% during the 3rd quarter. Boothbay Fund Management LLC now owns 116,112 shares of the company’s stock valued at $1,248,000 after acquiring an additional 69,077 shares during the period. Aquatic Capital Management LLC raised its stake in Delcath Systems by 86.0% during the 3rd quarter. Aquatic Capital Management LLC now owns 31,915 shares of the company’s stock worth $343,000 after acquiring an additional 14,752 shares during the period. Ameriprise Financial Inc. lifted its holdings in Delcath Systems by 52.4% during the third quarter. Ameriprise Financial Inc. now owns 43,237 shares of the company’s stock valued at $465,000 after purchasing an additional 14,874 shares in the last quarter. Apis Capital Advisors LLC lifted its holdings in Delcath Systems by 20.0% during the third quarter. Apis Capital Advisors LLC now owns 246,000 shares of the company’s stock valued at $2,644,000 after purchasing an additional 41,000 shares in the last quarter. Finally, Creative Planning bought a new position in shares of Delcath Systems in the third quarter worth approximately $168,000. Institutional investors own 61.12% of the company’s stock.

Delcath Systems Stock Down 0.3%

Shares of Delcath Systems stock opened at $9.45 on Monday. Delcath Systems, Inc. has a twelve month low of $8.12 and a twelve month high of $18.23. The business has a 50-day moving average price of $9.79 and a 200-day moving average price of $10.09. The firm has a market cap of $328.39 million, a price-to-earnings ratio of 135.00 and a beta of 0.38.

Delcath Systems (NASDAQ:DCTH) last posted its earnings results on Thursday, February 26th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. Delcath Systems had a return on equity of 2.63% and a net margin of 3.17%.The company had revenue of $20.73 million for the quarter, compared to the consensus estimate of $20.35 million. On average, equities analysts expect that Delcath Systems, Inc. will post -0.79 EPS for the current fiscal year.

Delcath Systems declared that its board has authorized a share repurchase plan on Thursday, November 20th that allows the company to repurchase $25.00 million in shares. This repurchase authorization allows the company to purchase up to 8.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. BTIG Research reduced their price objective on shares of Delcath Systems from $23.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 target price on shares of Delcath Systems in a report on Friday, January 9th. Wall Street Zen lowered Delcath Systems from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Weiss Ratings reissued a “sell (d+)” rating on shares of Delcath Systems in a report on Monday, December 29th. Finally, Evercore set a $27.00 price objective on Delcath Systems in a research note on Thursday, February 26th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Delcath Systems currently has an average rating of “Moderate Buy” and a consensus price target of $22.50.

Delcath Systems Profile

Delcath Systems, Inc is a specialty pharmaceutical and medical technology company focused on the development and commercialization of its proprietary Hepatic CHEMOSAT® Delivery System, designed to deliver high-dose chemotherapeutic agents directly to the liver while minimizing systemic exposure. The company’s core technology performs isolated hepatic perfusion, enabling oncologists to administer concentrated melphalan to patients with primary and metastatic liver tumors, including those arising from ocular melanoma.