Divisadero Street Capital Management LP Invests $5.12 Million in Delcath Systems, Inc. $DCTH

Divisadero Street Capital Management LP purchased a new position in Delcath Systems, Inc. (NASDAQ:DCTH) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 476,160 shares of the company’s stock, valued at approximately $5,119,000. Divisadero Street Capital Management LP owned about 1.35% of Delcath Systems at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Rosalind Advisors Inc. increased its stake in Delcath Systems by 13.8% during the 2nd quarter. Rosalind Advisors Inc. now owns 3,300,389 shares of the company’s stock valued at $44,885,000 after purchasing an additional 400,000 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Delcath Systems by 2.9% during the third quarter. Vanguard Group Inc. now owns 1,657,428 shares of the company’s stock valued at $17,817,000 after buying an additional 46,693 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Delcath Systems by 128.1% during the second quarter. Geode Capital Management LLC now owns 703,171 shares of the company’s stock valued at $9,565,000 after buying an additional 394,902 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Delcath Systems during the second quarter valued at approximately $6,572,000. Finally, Propel Bio Management LLC raised its holdings in Delcath Systems by 94.0% in the 3rd quarter. Propel Bio Management LLC now owns 438,509 shares of the company’s stock worth $4,714,000 after acquiring an additional 212,457 shares during the last quarter. Institutional investors own 61.12% of the company’s stock.

Delcath Systems Stock Down 0.3%

NASDAQ DCTH opened at $9.45 on Monday. The company has a 50-day moving average price of $9.79 and a 200-day moving average price of $10.09. Delcath Systems, Inc. has a 52 week low of $8.12 and a 52 week high of $18.23. The firm has a market capitalization of $328.39 million, a P/E ratio of 135.00 and a beta of 0.38.

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

Delcath Systems announced that its Board of Directors has initiated a share repurchase plan on Thursday, November 20th that allows the company to buyback $25.00 million in shares. This buyback authorization allows the company to reacquire up to 8.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

DCTH has been the topic of several recent analyst reports. Wall Street Zen downgraded Delcath Systems from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. BTIG Research lowered their price target on Delcath Systems from $23.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Weiss Ratings reissued a “sell (d+)” rating on shares of Delcath Systems in a report on Monday, December 29th. HC Wainwright restated a “buy” rating and issued a $30.00 target price on shares of Delcath Systems in a report on Friday, January 9th. Finally, Evercore set a $27.00 target price on shares of Delcath Systems in a research report on Thursday, February 26th. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.50.

About Delcath Systems

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.