Rocket Pharmaceuticals (NASDAQ:RCKT) Upgraded at Wall Street Zen

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

Several other research analysts also recently weighed in on RCKT. Weiss Ratings downgraded shares of Rocket Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, August 11th. Chardan Capital restated a “buy” rating and issued a $11.00 price target on shares of Rocket Pharmaceuticals in a research report on Monday, May 11th. Finally, Wedbush decreased their price objective on shares of Rocket Pharmaceuticals from $16.00 to $15.00 and set an “outperform” rating for the company in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $8.57.

Rocket Pharmaceuticals Trading Up 9.3%

Shares of NASDAQ RCKT opened at $3.65 on Monday. The company has a quick ratio of 9.24, a current ratio of 9.24 and a debt-to-equity ratio of 0.05. Rocket Pharmaceuticals has a 12 month low of $2.53 and a 12 month high of $5.45. The company has a market cap of $400.70 million, a price-to-earnings ratio of -21.47 and a beta of 0.47. The business has a fifty day simple moving average of $3.43 and a 200-day simple moving average of $3.60.

Rocket Pharmaceuticals (NASDAQ:RCKT) last issued its quarterly earnings results on Monday, August 10th. The biotechnology company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.22. During the same period in the previous year, the firm posted ($0.62) earnings per share. Sell-side analysts predict that Rocket Pharmaceuticals will post -1.39 EPS for the current year.

Insider Transactions at Rocket Pharmaceuticals

In other Rocket Pharmaceuticals news, COO Christopher James Stevens sold 36,658 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $3.50, for a total transaction of $128,303.00. Following the completion of the sale, the chief operating officer directly owned 505,784 shares in the company, valued at approximately $1,770,244. This trade represents a 6.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 47,689 shares of company stock valued at $166,152. 21.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Rocket Pharmaceuticals

Large investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in shares of Rocket Pharmaceuticals during the 2nd quarter valued at $33,940,000. Monaco Asset Management SAM purchased a new position in shares of Rocket Pharmaceuticals during the 2nd quarter valued at $8,483,000. MPM Bioimpact LLC increased its stake in shares of Rocket Pharmaceuticals by 141.2% in the second quarter. MPM Bioimpact LLC now owns 3,903,081 shares of the biotechnology company’s stock worth $9,563,000 after acquiring an additional 2,284,816 shares during the last quarter. Qube Research & Technologies Ltd increased its stake in shares of Rocket Pharmaceuticals by 690.8% in the second quarter. Qube Research & Technologies Ltd now owns 1,548,262 shares of the biotechnology company’s stock worth $3,793,000 after acquiring an additional 1,352,469 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in shares of Rocket Pharmaceuticals by 52.0% during the third quarter. Millennium Management LLC now owns 3,570,391 shares of the biotechnology company’s stock worth $11,639,000 after acquiring an additional 1,221,554 shares in the last quarter. Institutional investors and hedge funds 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.