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 report published on Saturday morning.

Several other equities analysts have also issued reports on RCKT. Weiss Ratings raised Rocket Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 15th. Chardan Capital reaffirmed a “buy” rating and issued a $11.00 target price on shares of Rocket Pharmaceuticals in a report on Monday, May 11th. One investment 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 assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $8.71.

Rocket Pharmaceuticals Stock Performance

Rocket Pharmaceuticals stock opened at $3.41 on Friday. Rocket Pharmaceuticals has a twelve month low of $2.53 and a twelve month high of $5.45. The company has a quick ratio of 6.12, a current ratio of 6.12 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $372.34 million, a P/E ratio of -1.82 and a beta of 0.47. The stock’s 50 day moving average is $3.29 and its 200 day moving average is $3.62.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its quarterly earnings data 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 quarter last year, the firm posted ($0.56) earnings per share. On average, equities research analysts predict that Rocket Pharmaceuticals will post -1.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Sarbani Chaudhuri sold 17,650 shares of the company’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $3.84, for a total transaction of $67,776.00. Following the transaction, the insider directly owned 267,510 shares of the company’s stock, valued at $1,027,238.40. This represents a 6.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available 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 stock in a transaction on 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 $3,280,727.16. This trade represents a 4.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 83,733 shares of company stock worth $275,307. Corporate insiders own 21.30% of the company’s stock.

Institutional Trading of Rocket Pharmaceuticals

Institutional investors have recently made changes to their positions in the stock. Prudential Financial Inc. purchased a new position in shares of Rocket Pharmaceuticals during the second quarter valued at approximately $25,000. CANADA LIFE ASSURANCE Co boosted its holdings 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. Franklin Resources Inc. bought a new stake in Rocket Pharmaceuticals in the 4th quarter worth approximately $38,000. Virtu Financial LLC bought a new stake in Rocket Pharmaceuticals in the 3rd quarter worth approximately $40,000. Finally, Sequoia Financial Advisors LLC purchased a new stake in Rocket Pharmaceuticals during the 4th quarter valued at $42,000. Hedge funds and other institutional investors own 98.39% of the company’s stock.

Rocket Pharmaceuticals Company Profile

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.