Vivo Capital LLC Has $7.75 Million Stock Position in Delcath Systems, Inc. $DCTH

Vivo Capital LLC lowered its position in Delcath Systems, Inc. (NASDAQ:DCTH) by 24.1% in the second quarter, HoldingsChannel.com reports. The fund owned 569,526 shares of the company’s stock after selling 180,669 shares during the quarter. Delcath Systems comprises 0.8% of Vivo Capital LLC’s portfolio, making the stock its 28th biggest position. Vivo Capital LLC’s holdings in Delcath Systems were worth $7,746,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in DCTH. Palisades Investment Partners LLC grew its stake in shares of Delcath Systems by 58.0% during the second quarter. Palisades Investment Partners LLC now owns 270,310 shares of the company’s stock valued at $3,676,000 after purchasing an additional 99,226 shares during the last quarter. Vanguard Group Inc. lifted its stake in Delcath Systems by 13.8% in the first quarter. Vanguard Group Inc. now owns 1,394,028 shares of the company’s stock valued at $17,746,000 after buying an additional 169,260 shares during the period. Los Angeles Capital Management LLC bought a new position in Delcath Systems during the 2nd quarter worth approximately $1,338,000. Invesco Ltd. acquired a new position in shares of Delcath Systems in the 1st quarter valued at $5,084,000. Finally, Cubist Systematic Strategies LLC grew its stake in Delcath Systems by 140.7% in the first quarter. Cubist Systematic Strategies LLC now owns 282,538 shares of the company’s stock valued at $3,597,000 after acquiring an additional 165,134 shares during the period. Institutional investors own 61.12% of the company’s stock.

Insider Transactions at Delcath Systems

In other news, CEO Gerard J. Michel bought 11,500 shares of the stock in a transaction dated Tuesday, November 11th. The shares were bought at an average cost of $8.53 per share, with a total value of $98,095.00. Following the completion of the transaction, the chief executive officer directly owned 330,834 shares of the company’s stock, valued at $2,822,014.02. This trade represents a 3.60% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 17.94% of the company’s stock.

Delcath Systems Stock Down 1.4%

NASDAQ DCTH opened at $9.64 on Tuesday. Delcath Systems, Inc. has a twelve month low of $8.12 and a twelve month high of $18.23. The company has a market capitalization of $340.39 million, a price-to-earnings ratio of 964.00 and a beta of 0.41. The stock has a fifty day simple moving average of $9.89 and a 200 day simple moving average of $11.52.

Delcath Systems (NASDAQ:DCTH) last announced its 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 business had revenue of $20.56 million during the quarter, compared to the consensus estimate of $23.22 million. Delcath Systems had a net margin of 1.50% and a return on equity of 7.02%. Research analysts expect that Delcath Systems, Inc. will post -0.79 earnings per share for the current fiscal year.

Delcath Systems announced that its Board of Directors has approved a stock repurchase program on Thursday, November 20th that authorizes the company to repurchase $25.00 million in shares. This repurchase authorization authorizes the company to purchase up to 8.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on DCTH shares. Canaccord Genuity Group reaffirmed a “buy” rating and set a $21.00 price objective on shares of Delcath Systems in a research report on Tuesday, October 21st. Stephens decreased their target price on Delcath Systems from $25.00 to $18.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. HC Wainwright set a $30.00 price target on shares of Delcath Systems and gave the company a “buy” rating in a report on Monday, October 20th. Weiss Ratings reissued a “sell (d+)” rating on shares of Delcath Systems in a research report on Monday, December 1st. Finally, BTIG Research reissued a “buy” rating and set a $23.00 price target on shares of Delcath Systems in a research report on Tuesday, November 4th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $22.40.

Delcath Systems Profile

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.