Rocket Pharmaceuticals (NASDAQ:RCKT) Now Covered by Jefferies Financial Group

Jefferies Financial Group initiated coverage on shares of Rocket Pharmaceuticals (NASDAQ:RCKT - Free Report) in a research note issued to investors on Wednesday, Marketbeat.com reports. The brokerage issued a buy rating and a $29.00 price target on the biotechnology company's stock.

Other research analysts have also issued research reports about the company. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $65.00 price target on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. Needham & Company LLC restated a "buy" rating and issued a $52.00 price objective on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th. Chardan Capital reaffirmed a "buy" rating and set a $62.00 target price on shares of Rocket Pharmaceuticals in a research note on Monday, November 18th. Canaccord Genuity Group reaffirmed a "buy" rating and set a $39.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. Finally, Leerink Partners lowered their target price on Rocket Pharmaceuticals from $46.00 to $44.00 and set an "outperform" rating for the company in a research note on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $48.80.

Rocket Pharmaceuticals Trading Down 1.5 %

Rocket Pharmaceuticals stock traded down $0.18 during trading hours on Wednesday, reaching $11.74. The stock had a trading volume of 1,986,959 shares, compared to its average volume of 832,297. The company has a fifty day simple moving average of $15.42 and a 200-day simple moving average of $18.77. Rocket Pharmaceuticals has a 52 week low of $11.58 and a 52 week high of $32.53. The stock has a market cap of $1.07 billion, a PE ratio of -4.27 and a beta of 1.01. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.05 and a quick ratio of 6.05.

Insiders Place Their Bets

In related news, CEO Gaurav Shah sold 11,091 shares of the firm's stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $13.05, for a total value of $144,737.55. Following the transaction, the chief executive officer now directly owns 707,328 shares of the company's stock, valued at approximately $9,230,630.40. This trade represents a 1.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders sold 13,490 shares of company stock valued at $176,045. Company insiders own 28.50% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Rocket Pharmaceuticals by 21.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,292 shares of the biotechnology company's stock valued at $61,000 after acquiring an additional 582 shares in the last quarter. Dana Investment Advisors Inc. increased its stake in Rocket Pharmaceuticals by 4.4% in the 2nd quarter. Dana Investment Advisors Inc. now owns 13,847 shares of the biotechnology company's stock worth $298,000 after acquiring an additional 586 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Rocket Pharmaceuticals by 31.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,160 shares of the biotechnology company's stock worth $68,000 after acquiring an additional 764 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Rocket Pharmaceuticals by 1.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 119,633 shares of the biotechnology company's stock valued at $2,210,000 after purchasing an additional 1,561 shares in the last quarter. Finally, Pier 88 Investment Partners LLC grew its stake in shares of Rocket Pharmaceuticals by 5.1% in the 3rd quarter. Pier 88 Investment Partners LLC now owns 32,490 shares of the biotechnology company's stock worth $600,000 after buying an additional 1,590 shares in the last quarter. 98.39% of the stock is currently owned by institutional investors.

About Rocket Pharmaceuticals

Rocket Pharmaceuticals, Inc, together with its subsidiaries, operates as a late-stage biotechnology company that focuses on developing gene therapies for rare and devastating diseases. It has three clinical-stage ex vivo lentiviral vector programs for fanconi anemia, a genetic defect in the bone marrow that reduces production of blood cells or promotes the production of faulty blood cells; leukocyte adhesion deficiency-I, a genetic disorder that causes the immune system to malfunction; and pyruvate kinase deficiency, a rare red blood cell autosomal recessive disorder that results in chronic non-spherocytic hemolytic anemia.