Rocket Pharmaceuticals (NASDAQ:RCKT) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of Rocket Pharmaceuticals (NASDAQ:RCKT) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.

A number of other equities analysts also recently weighed in on RCKT. Chardan Capital reaffirmed a “buy” rating and set a $11.00 price target on shares of Rocket Pharmaceuticals in a research report on Monday, May 11th. Weiss Ratings upgraded shares of Rocket Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday. Finally, Bank of America boosted their price objective on shares of Rocket Pharmaceuticals from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Monday, March 30th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $8.88.

Rocket Pharmaceuticals Stock Performance

Shares of Rocket Pharmaceuticals stock opened at $3.44 on Friday. The firm has a market cap of $375.61 million, a price-to-earnings ratio of -1.84 and a beta of 0.45. The stock’s 50-day moving average is $3.28 and its 200-day moving average is $3.65. Rocket Pharmaceuticals has a one year low of $2.53 and a one year high of $5.45. The company has a debt-to-equity ratio of 0.08, a current ratio of 6.12 and a quick ratio of 6.12.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.41) by ($0.01). During the same period in the prior year, the business earned ($0.56) earnings per share. Equities analysts predict that Rocket Pharmaceuticals will post -1.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Rocket Pharmaceuticals

In other Rocket Pharmaceuticals news, insider Sarbani Chaudhuri sold 17,650 shares of the company’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $3.84, for a total value of $67,776.00. Following the transaction, the insider directly owned 267,510 shares in the company, valued at $1,027,238.40. The trade was a 6.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Gaurav Shah sold 55,684 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $3.09, for a total transaction of $172,063.56. Following the completion of the transaction, the chief executive officer directly owned 1,061,724 shares in the company, valued at $3,280,727.16. The trade was a 4.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 83,733 shares of company stock valued at $275,307 in the last ninety days. Insiders own 21.30% of the company’s stock.

Institutional Trading of Rocket Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of RCKT. Optiver Holding B.V. grew its stake in Rocket Pharmaceuticals by 584.1% in the 1st quarter. Optiver Holding B.V. now owns 12,484 shares of the biotechnology company’s stock valued at $45,000 after buying an additional 10,659 shares during the last quarter. Essential Partners LLC lifted its position in Rocket Pharmaceuticals by 371.6% during the first quarter. Essential Partners LLC now owns 13,541 shares of the biotechnology company’s stock worth $48,000 after acquiring an additional 10,670 shares during the last quarter. Bank of America Corp DE lifted its position in Rocket Pharmaceuticals by 8.7% during the first quarter. Bank of America Corp DE now owns 630,125 shares of the biotechnology company’s stock worth $2,256,000 after acquiring an additional 50,618 shares during the last quarter. Maverick Capital Ltd. boosted its holdings in shares of Rocket Pharmaceuticals by 42.0% during the first quarter. Maverick Capital Ltd. now owns 3,567,372 shares of the biotechnology company’s stock worth $12,771,000 after acquiring an additional 1,054,262 shares during the period. Finally, Quantinno Capital Management LP boosted its holdings in shares of Rocket Pharmaceuticals by 88.7% during the first quarter. Quantinno Capital Management LP now owns 76,248 shares of the biotechnology company’s stock worth $273,000 after acquiring an additional 35,851 shares during the period. Institutional investors own 98.39% of the company’s stock.

About Rocket Pharmaceuticals

Rocket Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing gene therapies for rare, inherited pediatric diseases. The company employs a proprietary adeno-associated virus (AAV) and lentiviral vector platform to deliver functional copies of genes in patients with genetic deficiencies. Its programs target a spectrum of disorders, including Fanconi anemia, leukocyte adhesion deficiency type I and Danon disease, with the goal of delivering one-time treatments that address the underlying causes of disease rather than merely managing symptoms.

The company’s pipeline comprises multiple product candidates in various stages of development.