Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT – Get Rating) was up 7.6% during trading on Monday . The stock traded as high as $21.54 and last traded at $21.48. Approximately 102,483 shares changed hands during trading, a decline of 87% from the average daily volume of 810,217 shares. The stock had previously closed at $19.96.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on RCKT shares. Morgan Stanley started coverage on Rocket Pharmaceuticals in a report on Wednesday, February 1st. They set an “overweight” rating and a $45.00 price target on the stock. Chardan Capital reduced their price target on Rocket Pharmaceuticals from $63.00 to $61.00 in a report on Friday, May 5th. William Blair reiterated an “outperform” rating on shares of Rocket Pharmaceuticals in a report on Wednesday, March 22nd. SVB Leerink reduced their price target on Rocket Pharmaceuticals from $50.00 to $49.00 and set an “outperform” rating on the stock in a report on Monday, January 23rd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $60.00 price target on shares of Rocket Pharmaceuticals in a report on Wednesday, April 19th. One equities research analyst has rated the stock with a sell rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $52.42.
Rocket Pharmaceuticals Stock Performance
The company has a debt-to-equity ratio of 0.04, a quick ratio of 10.83 and a current ratio of 10.83. The stock’s 50 day simple moving average is $18.31 and its 200-day simple moving average is $19.18.
Insiders Place Their Bets
In other Rocket Pharmaceuticals news, CEO Gaurav Shah sold 12,194 shares of the business’s stock in a transaction dated Friday, February 17th. The shares were sold at an average price of $19.06, for a total transaction of $232,417.64. Following the sale, the chief executive officer now directly owns 536,885 shares in the company, valued at $10,233,028.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider John Militello sold 2,342 shares of the business’s stock in a transaction dated Friday, April 21st. The stock was sold at an average price of $18.65, for a total transaction of $43,678.30. Following the completion of the transaction, the insider now directly owns 5,636 shares of the company’s stock, valued at $105,111.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Gaurav Shah sold 12,194 shares of the business’s stock in a transaction dated Friday, February 17th. The stock was sold at an average price of $19.06, for a total value of $232,417.64. Following the transaction, the chief executive officer now directly owns 536,885 shares of the company’s stock, valued at $10,233,028.10. The disclosure for this sale can be found here. Insiders have sold 18,093 shares of company stock worth $343,892 over the last three months. Company insiders own 33.67% of the company’s stock.
Hedge Funds Weigh In On Rocket Pharmaceuticals
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Sphera Funds Management LTD. acquired a new position in shares of Rocket Pharmaceuticals during the first quarter worth about $4,043,000. State Street Corp boosted its holdings in Rocket Pharmaceuticals by 1.0% in the first quarter. State Street Corp now owns 4,019,686 shares of the biotechnology company’s stock valued at $68,857,000 after purchasing an additional 40,701 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in Rocket Pharmaceuticals by 125.0% in the first quarter. Steward Partners Investment Advisory LLC now owns 4,500 shares of the biotechnology company’s stock valued at $77,000 after purchasing an additional 2,500 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Rocket Pharmaceuticals by 4.9% in the first quarter. Geode Capital Management LLC now owns 1,155,739 shares of the biotechnology company’s stock valued at $19,798,000 after purchasing an additional 54,419 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC boosted its holdings in Rocket Pharmaceuticals by 16.4% in the first quarter. Gilder Gagnon Howe & Co. LLC now owns 23,448 shares of the biotechnology company’s stock valued at $402,000 after purchasing an additional 3,299 shares in the last quarter. 93.23% of the stock is owned by institutional investors and hedge funds.
Rocket Pharmaceuticals Company Profile
Rocket Pharmaceuticals, Inc is a clinical-stage biotechnology company, which engages in the development of gene therapy treatment options for rare and devastating pediatric diseases. Its multi-platform development approach applies the lentiviral vector and adeno-associated viral vector gene therapy platforms.
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