Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Given Consensus Recommendation of “Hold” by Analysts

Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) have been assigned an average rating of “Hold” from the twelve ratings firms that are currently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $8.8750.

A number of equities research analysts have weighed in on RCKT shares. Chardan Capital restated 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 cut Rocket Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, June 29th. Bank of America increased their price objective on Rocket Pharmaceuticals from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Monday, March 30th. Finally, Wall Street Zen raised Rocket Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, May 16th.

Insider Activity at Rocket Pharmaceuticals

In related news, insider Sarbani Chaudhuri sold 17,650 shares of the stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $3.84, for a total transaction of $67,776.00. Following the transaction, the insider owned 267,510 shares of the company’s stock, valued at approximately $1,027,238.40. This trade represents a 6.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 Rocket Pharmaceuticals stock in a transaction on Thursday, May 21st. The stock was 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 owned 1,061,724 shares in the company, valued at approximately $3,280,727.16. The trade was a 4.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 83,733 shares of company stock worth $275,307 over the last three months. Insiders own 21.30% of the company’s stock.

Institutional Inflows and Outflows

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

Rocket Pharmaceuticals Price Performance

RCKT stock opened at $4.24 on Thursday. 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 has a one year low of $2.53 and a one year high of $5.45. The stock has a market cap of $462.97 million, a PE ratio of -2.27 and a beta of 0.45. The firm has a 50 day simple moving average of $3.26 and a two-hundred day simple moving average of $3.64.

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 quarter in the previous year, the firm posted ($0.56) EPS. On average, analysts predict that Rocket Pharmaceuticals will post -1.16 EPS for the current fiscal year.

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.