Wall Street Zen Downgrades Rocket Pharmaceuticals (NASDAQ:RCKT) to Sell

Rocket Pharmaceuticals (NASDAQ:RCKT) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Sunday.

A number of other equities research analysts also recently issued reports on the stock. 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. Chardan Capital restated a “buy” rating and issued a $11.00 target price 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 assigned a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Rocket Pharmaceuticals presently has an average rating of “Hold” and a consensus price target of $8.71.

Rocket Pharmaceuticals Stock Up 0.8%

Shares of RCKT opened at $3.64 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 6.12 and a quick ratio of 6.12. The stock has a market capitalization of $397.45 million, a price-to-earnings ratio of -1.95 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 business’s 50 day simple moving average is $3.34 and its 200-day simple moving average is $3.61.

Insider Buying and Selling at Rocket Pharmaceuticals

In other news, CEO Gaurav Shah sold 55,684 shares of the business’s stock in a transaction that occurred 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 owned 1,061,724 shares of the company’s stock, valued at approximately $3,280,727.16. The trade was a 4.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders sold 66,083 shares of company stock worth $207,531. Insiders own 21.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Prudential Financial Inc. bought a new stake in shares of Rocket Pharmaceuticals in the 2nd quarter worth about $25,000. Franklin Resources Inc. purchased a new stake in Rocket Pharmaceuticals in the 4th quarter worth about $38,000. Focus Partners Advisor Solutions LLC purchased a new stake in Rocket Pharmaceuticals in the 2nd quarter worth about $41,000. Sequoia Financial Advisors LLC bought a new stake in Rocket Pharmaceuticals in the fourth quarter worth about $42,000. Finally, CANADA LIFE ASSURANCE Co lifted 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 during the last quarter. Institutional investors 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.