Rocket Pharmaceuticals Inc (NASDAQ:RCKT)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $17.98, but opened at $20.84. Rocket Pharmaceuticals shares last traded at $20.87, with a volume of 294,335 shares traded.
Several research firms have recently issued reports on RCKT. ValuEngine downgraded Rocket Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Robert W. Baird lifted their price target on Rocket Pharmaceuticals from $30.00 to $41.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Cowen reaffirmed a “buy” rating on shares of Rocket Pharmaceuticals in a research note on Sunday, November 17th. Chardan Capital reaffirmed a “buy” rating and set a $30.00 price target on shares of Rocket Pharmaceuticals in a research note on Friday, December 6th. Finally, Oppenheimer lifted their price target on Rocket Pharmaceuticals from $36.00 to $42.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $32.33.
The stock has a market cap of $1.10 billion, a PE ratio of -11.59 and a beta of 2.78. The business has a 50-day moving average of $16.81 and a 200 day moving average of $14.17. The company has a debt-to-equity ratio of 0.20, a quick ratio of 11.07 and a current ratio of 11.07.
Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its quarterly earnings data on Thursday, November 7th. The biotechnology company reported ($0.38) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.11. Equities analysts expect that Rocket Pharmaceuticals Inc will post -1.7 EPS for the current fiscal year.
In related news, Director Rtw Investments, Lp acquired 225,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was purchased at an average price of $22.25 per share, for a total transaction of $5,006,250.00. The purchase was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 41.40% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its holdings in Rocket Pharmaceuticals by 24.7% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,172,946 shares of the biotechnology company’s stock valued at $17,594,000 after buying an additional 232,542 shares during the period. Morgens Waterfall Vintiadis & Co. Inc. purchased a new stake in Rocket Pharmaceuticals in the 2nd quarter valued at about $300,000. Vivo Capital LLC purchased a new stake in Rocket Pharmaceuticals in the 2nd quarter valued at about $11,801,000. Meeder Asset Management Inc. purchased a new stake in Rocket Pharmaceuticals in the 3rd quarter valued at about $88,000. Finally, Comerica Bank grew its holdings in Rocket Pharmaceuticals by 35.2% in the 3rd quarter. Comerica Bank now owns 28,155 shares of the biotechnology company’s stock valued at $363,000 after buying an additional 7,329 shares during the period. Institutional investors own 96.26% of the company’s stock.
Rocket Pharmaceuticals Company Profile (NASDAQ:RCKT)
Rocket Pharmaceuticals, Inc, together with its subsidiaries, operates as a multi-platform biotechnology company that focuses on developing gene therapies for rare and devastating pediatric diseases. It has clinical-stage lentiviral vector (LVV) programs under clinical testing to treat fanconi anemia, a genetic defect in the bone marrow that reduces production of blood cells or promotes the production of faulty blood cells; and leukocyte adhesion deficiency-I, a genetic disorder that causes the immune system to malfunction It also has additional pre-clinical stage LVV programs include pyruvate kinase deficiency, a rare red blood cell autosomal recessive disorder that results in chronic non-spherocytic hemolytic anemia; and infantile malignant osteopetrosis, a genetic disorder characterized by increased bone density and bone mass secondary to impaired bone resorption.
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