Rocket Pharmaceuticals (NASDAQ:RCKT) Stock Price Up 5.4% – What’s Next?

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)’s stock price was up 5.4% on Monday . The stock traded as high as $4.88 and last traded at $4.65. Approximately 874,775 shares changed hands during trading, a decline of 65% from the average daily volume of 2,475,212 shares. The stock had previously closed at $4.41.

Analyst Ratings Changes

A number of analysts recently commented on RCKT shares. Bank of America dropped their target price on shares of Rocket Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday, November 18th. Lifesci Capital raised Rocket Pharmaceuticals to a “strong-buy” rating in a report on Thursday, February 26th. Cantor Fitzgerald increased their price objective on Rocket Pharmaceuticals from $8.00 to $10.00 and gave the company an “overweight” rating in a research report on Friday, February 27th. JPMorgan Chase & Co. cut Rocket Pharmaceuticals from a “neutral” rating to an “underweight” rating in a report on Tuesday, November 18th. Finally, Wall Street Zen lowered Rocket Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Sunday. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $13.79.

Rocket Pharmaceuticals Trading Up 14.5%

The company has a quick ratio of 6.38, a current ratio of 6.38 and a debt-to-equity ratio of 0.07. The firm has a market cap of $548.28 million, a price-to-earnings ratio of -2.51 and a beta of 0.39. The company has a 50-day moving average price of $3.74 and a 200 day moving average price of $3.50.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its quarterly earnings data on Thursday, February 26th. The biotechnology company reported ($0.38) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.42) by $0.04. During the same period in the previous year, the company earned ($0.62) earnings per share. As a group, research analysts anticipate that Rocket Pharmaceuticals, Inc. will post -2.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Rocket Pharmaceuticals news, CEO Gaurav Shah sold 12,279 shares of the company’s stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $3.31, for a total value of $40,643.49. Following the transaction, the chief executive officer owned 1,052,045 shares in the company, valued at approximately $3,482,268.95. This represents a 1.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Martin Wilson sold 12,253 shares of the stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $3.31, for a total transaction of $40,557.43. Following the completion of the sale, the general counsel owned 683,376 shares of the company’s stock, valued at approximately $2,261,974.56. The trade was a 1.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 29,415 shares of company stock worth $97,398 over the last ninety days. 24.76% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Rocket Pharmaceuticals

Several large investors have recently made changes to their positions in RCKT. AQR Capital Management LLC lifted its stake in Rocket Pharmaceuticals by 148.4% in the first quarter. AQR Capital Management LLC now owns 163,622 shares of the biotechnology company’s stock valued at $1,091,000 after acquiring an additional 97,758 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Rocket Pharmaceuticals by 121.8% during the 1st quarter. Millennium Management LLC now owns 747,147 shares of the biotechnology company’s stock valued at $4,983,000 after purchasing an additional 410,238 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Rocket Pharmaceuticals in the 1st quarter valued at $189,000. Goldman Sachs Group Inc. boosted its holdings in Rocket Pharmaceuticals by 24.0% in the first quarter. Goldman Sachs Group Inc. now owns 995,690 shares of the biotechnology company’s stock worth $6,641,000 after purchasing an additional 192,905 shares in the last quarter. Finally, Bank of Montreal Can acquired a new position in Rocket Pharmaceuticals during the second quarter worth $181,000. 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.