Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Receives Consensus Rating of “Hold” from Analysts

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) has received a consensus recommendation of “Hold” from the ten ratings firms that are presently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $8.7143.

Several research firms recently issued reports on RCKT. Chardan Capital reiterated a “buy” rating and issued a $11.00 target price on shares of Rocket Pharmaceuticals in a research note on Monday, May 11th. Weiss Ratings raised shares of Rocket Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, July 15th. Finally, Wall Street Zen upgraded Rocket Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday.

Rocket Pharmaceuticals Stock Performance

RCKT stock opened at $3.11 on Monday. The firm has a market cap of $339.58 million, a price-to-earnings ratio of -1.66 and a beta of 0.45. The firm has a 50-day simple moving average of $3.28 and a two-hundred day simple moving average of $3.62. 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 quick ratio of 6.12 and a current ratio of 6.12.

Rocket Pharmaceuticals (NASDAQ:RCKT) last issued its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.01). During the same period last year, the firm posted ($0.56) earnings per share. On average, equities analysts forecast that Rocket Pharmaceuticals will post -1.16 EPS for the current fiscal year.

Insider Activity

In other Rocket Pharmaceuticals news, CEO Gaurav Shah sold 55,684 shares of the company’s 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 transaction, the chief executive officer directly owned 1,061,724 shares in the company, valued at $3,280,727.16. This represents a 4.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sarbani Chaudhuri sold 17,650 shares of the stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $3.84, for a total transaction of $67,776.00. Following the sale, the insider directly owned 267,510 shares in the company, valued at $1,027,238.40. This represents a 6.19% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 83,733 shares of company stock worth $275,307. Insiders own 21.30% of the company’s stock.

Institutional Investors Weigh In On Rocket Pharmaceuticals

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

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.