Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Get Free Report)'s share price traded up 6.9% on Tuesday . The company traded as high as $13.20 and last traded at $13.20. 427,142 shares were traded during mid-day trading, a decline of 60% from the average session volume of 1,058,396 shares. The stock had previously closed at $12.35.
Wall Street Analyst Weigh In
A number of research firms have recently commented on RCKT. Canaccord Genuity Group restated a "buy" rating and set a $39.00 price objective on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. Scotiabank assumed coverage on Rocket Pharmaceuticals in a research note on Wednesday, October 16th. They issued a "sector outperform" rating and a $50.00 price target for the company. Needham & Company LLC reiterated a "buy" rating and set a $52.00 price objective on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. Leerink Partners decreased their target price on shares of Rocket Pharmaceuticals from $46.00 to $44.00 and set an "outperform" rating for the company in a research note on Tuesday, November 19th. Finally, Chardan Capital reiterated a "buy" rating and issued a $62.00 price target on shares of Rocket Pharmaceuticals in a research note on Monday, November 18th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $47.27.
View Our Latest Stock Analysis on Rocket Pharmaceuticals
Rocket Pharmaceuticals Price Performance
The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of -4.56 and a beta of 1.01. The company's 50-day simple moving average is $13.81 and its 200-day simple moving average is $17.71. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.05 and a quick ratio of 6.05.
Insider Buying and Selling
In related news, CEO Gaurav Shah sold 11,091 shares of the firm's stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $13.05, for a total transaction 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders sold 13,490 shares of company stock valued at $176,045. Insiders own 28.50% of the company's stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in RCKT. Mirae Asset Global Investments Co. Ltd. boosted its stake 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 buying an additional 582 shares during the period. Values First Advisors Inc. acquired a new position in Rocket Pharmaceuticals in the 3rd quarter valued at $108,000. SG Americas Securities LLC bought a new stake in shares of Rocket Pharmaceuticals during the 3rd quarter valued at $113,000. XTX Topco Ltd bought a new stake in shares of Rocket Pharmaceuticals during the 3rd quarter valued at $286,000. Finally, Verition Fund Management LLC bought a new position in shares of Rocket Pharmaceuticals in the third quarter worth $290,000. Institutional investors and hedge funds own 98.39% of the company's stock.
About Rocket Pharmaceuticals
(
Get Free Report)
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.
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