Verition Fund Management LLC Reduces Position in Delcath Systems, Inc. (NASDAQ:DCTH)

Verition Fund Management LLC reduced its position in Delcath Systems, Inc. (NASDAQ:DCTH) by 20.4% during the third quarter, HoldingsChannel.com reports. The firm owned 17,382 shares of the company’s stock after selling 4,453 shares during the period. Verition Fund Management LLC’s holdings in Delcath Systems were worth $157,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. purchased a new stake in shares of Delcath Systems in the third quarter valued at approximately $808,000. Riverwater Partners LLC purchased a new stake in shares of Delcath Systems in the 3rd quarter worth $161,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Delcath Systems in the 2nd quarter worth $370,000. Shellback Capital LP bought a new position in shares of Delcath Systems during the 2nd quarter worth $1,353,000. Finally, Marshall Wace LLP increased its stake in shares of Delcath Systems by 7.0% during the second quarter. Marshall Wace LLP now owns 92,731 shares of the company’s stock valued at $776,000 after buying an additional 6,066 shares during the period. Institutional investors own 61.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. StockNews.com upgraded Delcath Systems from a “sell” rating to a “hold” rating in a report on Friday, October 25th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $21.00 price objective on shares of Delcath Systems in a research report on Friday, October 18th. HC Wainwright reiterated a “buy” rating and issued a $22.00 target price on shares of Delcath Systems in a research note on Monday, November 11th. Finally, Stephens reissued a “buy” rating 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 assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.50.

Delcath Systems Stock Up 0.9 %

Shares of DCTH stock opened at $12.22 on Tuesday. Delcath Systems, Inc. has a 52-week low of $3.12 and a 52-week high of $13.30. The stock has a market cap of $390.72 million, a PE ratio of -9.05 and a beta of 0.85. The business has a 50-day simple moving average of $10.55 and a 200-day simple moving average of $9.17.

Delcath Systems Company 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.