Steven A.J. Salamon, a director at Delcath Systems, Inc. (NASDAQ:DCTH), a company specializing in surgical and medical instruments, has recently purchased shares in the company. On March 19, 2024, Salamon acquired 26,882 common shares at a price of $3.72 each, totaling $100,001.
This transaction has increased Salamon's direct holdings in Delcath Systems to 1,121,025 shares, as stated in the latest SEC filing. It should be noted that this figure includes 1,038,828 shares previously reported and indirectly owned by Salamon as an officer of Rosalind Advisors, Inc., which advises the Rosalind Opportunities Fund I L.P. and Rosalind Master Fund L.P., collectively known as the Rosalind Funds.
The purchase by Salamon reflects a notable investment by a key insider in the company's stock. Investors often monitor such insider transactions as they can provide insights into the executive's confidence in the company's future prospects.
Delcath Systems is incorporated in Delaware and operates out of Queensbury, New York. The company's shares are publicly traded on the NASDAQ stock exchange under the symbol DCTH.
InvestingPro Insights
Following the recent insider share purchase by Steven A.J. Salamon at Delcath Systems, Inc. (NASDAQ:DCTH), a closer look at the company's financial health and market performance through InvestingPro data and tips may offer additional insights for investors.
Despite Salamon's vote of confidence in the company, Delcath Systems' current financial metrics present a mixed picture. The company's market capitalization stands at a modest $93.7 million, and it holds a negative P/E ratio of -1.23, indicating that it is currently unprofitable. Furthermore, the adjusted P/E ratio for the last twelve months as of Q3 2023 is -2.16, which could signal challenges in achieving profitability in the near term. Delcath Systems' revenue growth has also seen a significant decline, with a -48.3% change in the last twelve months as of Q3 2023.
However, not all indicators are negative. An InvestingPro Tip points out that Delcath Systems holds more cash than debt on its balance sheet, which is a positive sign for financial stability. Additionally, the company's gross profit margin remains high at 67.62%, suggesting effective cost control in its operations. Investors should also note that the company's liquid assets exceed its short-term obligations, which may provide some resilience against financial headwinds.
On the performance front, Delcath Systems has experienced a significant return over the last week, with a 10.97% price total return, and a strong return over the last three months, at 20.74%. This could indicate a positive market sentiment or reaction to recent events, such as insider purchases.
For investors seeking further analysis and tips, there are 11 additional InvestingPro Tips available for Delcath Systems, which can be accessed at: https://www.investing.com/pro/DCTH. These tips may provide deeper insights into the company's financials and market expectations. To enhance the investment research experience, users can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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