Wall Street Zen Upgrades Rocket Pharmaceuticals (NASDAQ:RCKT) to “Hold”

by · The Cerbat Gem

Rocket Pharmaceuticals (NASDAQ:RCKT – Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

RCKT has been the topic of several other reports. Weiss Ratings upgraded Rocket Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 15th. Chardan Capital restated a “buy” rating and issued a $11.00 price target on shares of Rocket Pharmaceuticals in a report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Rocket Pharmaceuticals presently has an average rating of “Hold” and an average price target of $8.71.

Check Out Our Latest Analysis on RCKT

Rocket Pharmaceuticals Price Performance

RCKT stock opened at $3.11 on Friday. The firm has a market cap of $339.58 million, a PE ratio of -1.66 and a beta of 0.47. Rocket Pharmaceuticals has a 1 year low of $2.53 and a 1 year high of $5.45. The company has a fifty day simple moving average of $3.28 and a 200 day simple moving average of $3.62. The company has a current ratio of 6.12, a quick ratio of 6.12 and a debt-to-equity ratio of 0.08.

Rocket Pharmaceuticals (NASDAQ:RCKT – Get Free Report) last announced its earnings results on Thursday, May 7th. The biotechnology company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.01). During the same period in the previous year, the company earned ($0.56) earnings per share. Sell-side analysts anticipate that Rocket Pharmaceuticals will post -1.16 EPS for the current fiscal year.

Insider Buying and Selling at Rocket Pharmaceuticals

In other Rocket Pharmaceuticals news, insider Sarbani Chaudhuri sold 17,650 shares of the firm’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $3.84, for a total value of $67,776.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 the firm’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $3.09, for a total value of $172,063.56. Following the sale, the chief executive officer directly owned 1,061,724 shares in the company, valued at approximately $3,280,727.16. This represents a 4.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 83,733 shares of company stock valued at $275,307 in the last quarter. 21.30% of the stock is currently owned by company insiders.

Institutional Trading of Rocket Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Prudential Financial Inc. purchased a new stake in Rocket Pharmaceuticals in the 2nd quarter valued at about $25,000. Franklin Resources Inc. bought a new stake in shares of Rocket Pharmaceuticals during the fourth quarter valued at approximately $38,000. Sequoia Financial Advisors LLC purchased a new stake in shares of Rocket Pharmaceuticals in the fourth quarter valued at approximately $42,000. CANADA LIFE ASSURANCE Co grew its stake in Rocket Pharmaceuticals by 94.4% in the second quarter. CANADA LIFE ASSURANCE Co now owns 12,202 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 5,926 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in Rocket Pharmaceuticals during the 3rd quarter worth $40,000. Hedge funds and other institutional investors own 98.39% of the company’s stock.

About Rocket Pharmaceuticals

(Get Free Report)

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.

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