Delcath Systems, Inc. $DCTH Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC raised its position in Delcath Systems, Inc. (NASDAQ:DCTH) by 128.1% during the second quarter, HoldingsChannel reports. The firm owned 703,171 shares of the company’s stock after buying an additional 394,902 shares during the quarter. Geode Capital Management LLC’s holdings in Delcath Systems were worth $9,565,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of DCTH. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Delcath Systems during the 2nd quarter worth $162,000. Los Angeles Capital Management LLC purchased a new stake in Delcath Systems during the 2nd quarter worth about $1,338,000. USA Financial Formulas purchased a new stake in Delcath Systems during the 2nd quarter worth about $25,000. Palisades Investment Partners LLC boosted its position in shares of Delcath Systems by 58.0% during the 2nd quarter. Palisades Investment Partners LLC now owns 270,310 shares of the company’s stock worth $3,676,000 after acquiring an additional 99,226 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Delcath Systems by 58.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 123,487 shares of the company’s stock valued at $1,572,000 after acquiring an additional 45,695 shares during the last quarter. 61.12% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Gerard J. Michel purchased 11,500 shares of the stock in a transaction that occurred on Tuesday, November 11th. The shares were purchased at an average price of $8.53 per share, with a total value of $98,095.00. Following the completion of the acquisition, the chief executive officer directly owned 330,834 shares in the company, valued at $2,822,014.02. This represents a 3.60% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 17.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

DCTH has been the subject of several recent analyst reports. Canaccord Genuity Group restated a “buy” rating and set a $21.00 target price on shares of Delcath Systems in a research note on Tuesday, October 21st. HC Wainwright set a $30.00 target price on shares of Delcath Systems and gave the company a “buy” rating in a report on Monday, October 20th. BTIG Research reaffirmed a “buy” rating and issued a $23.00 target price on shares of Delcath Systems in a research report on Tuesday, November 4th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Delcath Systems in a research note on Monday. Finally, Wall Street Zen downgraded shares of Delcath Systems from a “buy” rating to a “hold” rating in a research note on Sunday, October 12th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $22.40.

Delcath Systems Price Performance

Shares of Delcath Systems stock opened at $10.02 on Friday. The firm’s fifty day simple moving average is $9.94 and its 200-day simple moving average is $11.71. Delcath Systems, Inc. has a 12 month low of $8.12 and a 12 month high of $18.23. The stock has a market capitalization of $353.81 million, a price-to-earnings ratio of 1,002.00 and a beta of 0.41.

Delcath Systems (NASDAQ:DCTH) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.02 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.02. The firm had revenue of $20.56 million during the quarter, compared to analysts’ expectations of $23.22 million. Delcath Systems had a net margin of 1.50% and a return on equity of 7.02%. Analysts anticipate that Delcath Systems, Inc. will post -0.79 earnings per share for the current year.

Delcath Systems declared that its Board of Directors has authorized a stock repurchase plan on Thursday, November 20th that authorizes the company to repurchase $25.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 8.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

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.