Simplify Asset Management Inc. Increases Stock Position in Delcath Systems, Inc. $DCTH

Simplify Asset Management Inc. increased its holdings in Delcath Systems, Inc. (NASDAQ:DCTH) by 144.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 261,126 shares of the company’s stock after acquiring an additional 154,497 shares during the quarter. Simplify Asset Management Inc. owned approximately 0.75% of Delcath Systems worth $2,807,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Marshall Wace LLP purchased a new position in Delcath Systems during the 2nd quarter worth $6,572,000. Rosalind Advisors Inc. boosted its stake in shares of Delcath Systems by 13.8% during the second quarter. Rosalind Advisors Inc. now owns 3,300,389 shares of the company’s stock worth $44,885,000 after buying an additional 400,000 shares during the period. 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 worth $9,565,000 after buying an additional 394,902 shares during the last quarter. Jump Financial LLC grew its holdings in shares of Delcath Systems by 604.9% during the second quarter. Jump Financial LLC now owns 197,466 shares of the company’s stock worth $2,686,000 after buying an additional 169,453 shares during the last quarter. Finally, Cubist Systematic Strategies LLC increased its position in Delcath Systems by 140.7% in the 1st 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 and hedge funds own 61.12% of the company’s stock.

Insider Transactions at Delcath Systems

In related news, CEO Gerard J. Michel bought 11,500 shares of the company’s stock in a transaction on Tuesday, November 11th. The stock was bought at an average cost of $8.53 per share, with a total value of $98,095.00. Following the completion of the acquisition, the chief executive officer owned 330,834 shares in the company, valued at approximately $2,822,014.02. This represents a 3.60% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 17.94% of the company’s stock.

Delcath Systems Stock Performance

Delcath Systems stock opened at $10.17 on Tuesday. The company has a market cap of $359.10 million, a P/E ratio of 1,017.00 and a beta of 0.41. Delcath Systems, Inc. has a one year low of $8.12 and a one year high of $18.23. The business has a fifty day moving average of $9.59 and a two-hundred day moving average of $10.87.

Delcath Systems (NASDAQ:DCTH) last posted 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. Delcath Systems had a net margin of 1.50% and a return on equity of 7.02%. The business had revenue of $20.56 million for the quarter, compared to analysts’ expectations of $23.22 million. Sell-side analysts predict that Delcath Systems, Inc. will post -0.79 EPS for the current year.

Delcath Systems declared that its Board of Directors has authorized a share repurchase plan on Thursday, November 20th that permits the company to repurchase $25.00 million in shares. This repurchase authorization permits the company to reacquire up to 8.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of analysts have weighed in on DCTH shares. HC Wainwright set a $30.00 price objective on Delcath Systems and gave the stock a “buy” rating in a research report on Monday, October 20th. Weiss Ratings restated a “sell (d+)” rating on shares of Delcath Systems in a research note on Monday, December 22nd. Canaccord Genuity Group reiterated a “buy” rating and issued a $21.00 price objective on shares of Delcath Systems in a research report on Tuesday, October 21st. BTIG Research reissued a “buy” rating and issued a $23.00 price objective on shares of Delcath Systems in a research note on Tuesday, November 4th. Finally, Wall Street Zen downgraded shares of Delcath Systems from a “buy” rating to a “hold” rating in a report on Sunday, October 12th. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Delcath Systems presently has a consensus rating of “Moderate Buy” and an average price target of $22.40.

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.