Short Interest in Delcath Systems, Inc. (NASDAQ:DCTH) Declines By 23.0%

Delcath Systems, Inc. (NASDAQ:DCTH) was the recipient of a large decline in short interest in the month of January. As of January 15th, there was short interest totalling 1,040,000 shares, a decline of 23.0% from the December 31st total of 1,350,000 shares. Based on an average daily trading volume, of 386,900 shares, the days-to-cover ratio is presently 2.7 days.

Delcath Systems Stock Down 2.3 %

NASDAQ:DCTH opened at $15.60 on Friday. The company has a fifty day simple moving average of $12.66 and a two-hundred day simple moving average of $10.44. The company has a market cap of $498.73 million, a price-to-earnings ratio of -11.56 and a beta of 0.87. Delcath Systems has a 52 week low of $3.70 and a 52 week high of $16.44.

Hedge Funds Weigh In On Delcath Systems

Several institutional investors have recently modified their holdings of the business. Polar Asset Management Partners Inc. acquired a new position in shares of Delcath Systems during the third quarter worth $1,594,000. Principal Financial Group Inc. acquired a new position in shares of Delcath Systems during the third quarter worth $808,000. Renaissance Technologies LLC acquired a new position in shares of Delcath Systems during the second quarter worth $694,000. Cubist Systematic Strategies LLC acquired a new position in shares of Delcath Systems during the second quarter worth $370,000. Finally, Virtu Financial LLC acquired a new position in shares of Delcath Systems during the third quarter worth $289,000. Institutional investors and hedge funds own 61.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on DCTH shares. HC Wainwright reissued a “buy” rating and issued a $22.00 target price on shares of Delcath Systems in a research report on Tuesday, January 14th. Stephens reissued a “buy” rating on shares of Delcath Systems in a research report on Friday, October 18th. StockNews.com raised Delcath Systems from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. Craig Hallum boosted their target price on Delcath Systems from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $21.00 target price on shares of Delcath Systems in a research report on Friday, October 18th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.25.

About Delcath Systems

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.