The stock of Delcath Systems, Inc. (NASDAQ:DCTH) gapped down by $0.6 today and has $2.17 target or 12.00% below today’s $2.47 share price. The 6 months technical chart setup indicates high risk for the $3.62M company. The gap down was reported on Oct, 1 by Barchart.com. If the $2.17 price target is reached, the company will be worth $434,400 less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. The stock decreased 28.41% or $0.98 on September 30, hitting $2.47. About 425,309 shares traded hands or 3049.50% up from the average. Delcath Systems, Inc. (NASDAQ:DCTH) has declined 44.64% since February 29, 2016 and is downtrending. It has underperformed by 55.07% the S&P500.
Analysts await Delcath Systems, Inc. (NASDAQ:DCTH) to report earnings on November, 8.
According to Zacks Investment Research, “Delcath Systems, Inc. has developed a system, the Delcath system, to isolate the liver from the general circulatory system and to administer chemotherapy and other therapeutic agents directly to the liver.”
Insitutional Activity: The institutional sentiment decreased to 1.13 in 2016 Q2. Its down 0.30, from 1.43 in 2016Q1. The ratio dived, as 7 funds sold all Delcath Systems, Inc. shares owned while 1 reduced positions. 2 funds bought stakes while 7 increased positions. They now own 1.85 million shares or 18.13% less from 2.26 million shares in 2016Q1.
Private Advisor Gru Ltd Com holds 206,670 shares or 0% of its portfolio. Creative Planning has invested 0% of its portfolio in Delcath Systems, Inc. (NASDAQ:DCTH). The California-based Blackrock Institutional Trust Na has invested 0% in Delcath Systems, Inc. (NASDAQ:DCTH). Deutsche Financial Bank Ag has 0% invested in the company for 5 shares. Royal Savings Bank Of Canada accumulated 0% or 2,563 shares. Bank Of America Corp De has invested 0% of its portfolio in Delcath Systems, Inc. (NASDAQ:DCTH). Blackrock Fund accumulated 0% or 4,024 shares. Susquehanna Limited Liability Partnership accumulated 0% or 39,047 shares. Goldman Sachs Group reported 15,211 shares or 0% of all its holdings. Ladenburg Thalmann Fin Svcs Inc accumulated 1,456 shares or 0% of the stock. Citadel Lc has invested 0% of its portfolio in Delcath Systems, Inc. (NASDAQ:DCTH). Renaissance Tech Limited Com last reported 754,998 shares in the company. Moreover, Wells Fargo Mn has 0% invested in Delcath Systems, Inc. (NASDAQ:DCTH) for 157 shares. Group One Trading L P owns 5,123 shares or 0% of their US portfolio. Moreover, Geode Capital Management Lc has 0% invested in Delcath Systems, Inc. (NASDAQ:DCTH) for 39,792 shares.
More notable recent Delcath Systems, Inc. (NASDAQ:DCTH) news were published by: Prnewswire.com which released: “Delcath Announces Proposed Public Offering of Common Stock and Warrants” on September 29, 2016, also Marketwatch.com with their article: “Delcath Systems Inc.” published on December 22, 2009, Seekingalpha.com published: “Delcath prices stock offering at $3; shares off 21%” on September 30, 2016. More interesting news about Delcath Systems, Inc. (NASDAQ:DCTH) were released by: Benzinga.com and their article: “Mid-Morning Market Update: Markets Open Higher; McCormick Profit Tops Estimates” published on September 30, 2016 as well as Prnewswire.com‘s news article titled: “Delcath Sponsors Ocular Melanoma Foundation Patient Retreat” with publication date: September 19, 2016.
DCTH Company Profile
Delcath Systems, Inc., incorporated on August 5, 1988, is a late-stage clinical development firm with early commercial activity in Europe focused on cancers of the liver. The Firm is a specialty pharmaceutical and medical device firm developing its product, Melphalan Hydrochloride for Injection for use with the Delcath Hepatic Delivery System (Melphalan/HDS). The Company’s system delivers and filters melphalan hydrochloride, which is marketed as a device under the trade name Delcath Hepatic CHEMOSAT Delivery System for Melphalan (CHEMOSAT). The Company’s focus is on the execution of the clinical development program (CDP) in ocular melanoma liver metastases (mOM), intrahepatic cholangiocarncinoma (ICC), hepatocellular carcinoma (HCC or primary liver) and other cancers that are metastatic to the liver.
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