Rocket Pharmaceuticals (NASDAQ:RCKT) Stock Price Up 5.4%

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) shares traded up 5.4% during trading on Friday . The stock traded as high as $22.23 and last traded at $21.97. 171,425 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 687,034 shares. The stock had previously closed at $20.85.

Analyst Ratings Changes

Several research analysts have recently commented on the company. The Goldman Sachs Group initiated coverage on Rocket Pharmaceuticals in a research report on Tuesday, April 2nd. They issued a “neutral” rating and a $39.00 price target for the company. UBS Group reduced their target price on Rocket Pharmaceuticals from $56.00 to $54.00 and set a “buy” rating on the stock in a research report on Friday, March 1st. JPMorgan Chase & Co. reduced their target price on Rocket Pharmaceuticals from $55.00 to $50.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 27th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $65.00 target price on shares of Rocket Pharmaceuticals in a research report on Tuesday, February 27th. Finally, William Blair reaffirmed an “outperform” rating on shares of Rocket Pharmaceuticals in a research report on Monday, June 3rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Rocket Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $52.13.

Rocket Pharmaceuticals Stock Up 7.8 %

The business has a fifty day moving average price of $22.51 and a two-hundred day moving average price of $26.11. The company has a debt-to-equity ratio of 0.04, a current ratio of 10.47 and a quick ratio of 10.47. The firm has a market capitalization of $2.04 billion, a price-to-earnings ratio of -7.83 and a beta of 1.08.

Rocket Pharmaceuticals (NASDAQ:RCKT) last issued its earnings results on Monday, May 6th. The biotechnology company reported ($0.66) EPS for the quarter, topping analysts’ consensus estimates of ($0.67) by $0.01. During the same period in the previous year, the company posted ($0.73) earnings per share. On average, equities analysts expect that Rocket Pharmaceuticals, Inc. will post -2.85 earnings per share for the current year.

Insider Transactions at Rocket Pharmaceuticals

In other Rocket Pharmaceuticals news, insider Mark Andrew White sold 12,532 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $24.64, for a total transaction of $308,788.48. Following the transaction, the insider now owns 75,226 shares in the company, valued at $1,853,568.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Rocket Pharmaceuticals news, insider Mark Andrew White sold 12,532 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $24.64, for a total transaction of $308,788.48. Following the transaction, the insider now owns 75,226 shares in the company, valued at $1,853,568.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gaurav Shah sold 9,790 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $23.35, for a total value of $228,596.50. Following the transaction, the chief executive officer now directly owns 728,069 shares of the company’s stock, valued at approximately $17,000,411.15. The disclosure for this sale can be found here. Insiders have sold 105,282 shares of company stock worth $2,551,801 over the last quarter. 31.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Rocket Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Comerica Bank acquired a new stake in shares of Rocket Pharmaceuticals in the third quarter valued at approximately $9,017,000. Bamco Inc. NY boosted its holdings in Rocket Pharmaceuticals by 25.5% in the third quarter. Bamco Inc. NY now owns 1,108,017 shares of the biotechnology company’s stock valued at $22,703,000 after purchasing an additional 225,231 shares during the period. Franklin Resources Inc. boosted its holdings in Rocket Pharmaceuticals by 60.8% in the fourth quarter. Franklin Resources Inc. now owns 1,072,910 shares of the biotechnology company’s stock valued at $32,155,000 after purchasing an additional 405,855 shares during the period. Avidity Partners Management LP boosted its holdings in Rocket Pharmaceuticals by 8.3% in the fourth quarter. Avidity Partners Management LP now owns 1,719,103 shares of the biotechnology company’s stock valued at $51,522,000 after purchasing an additional 131,674 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in Rocket Pharmaceuticals by 56.0% in the third quarter. Wellington Management Group LLP now owns 8,022,830 shares of the biotechnology company’s stock valued at $164,388,000 after purchasing an additional 2,880,373 shares during the period. Institutional investors and hedge funds own 98.39% of the company’s stock.

Rocket Pharmaceuticals Company Profile

Rocket Pharmaceuticals, Inc, together with its subsidiaries, operates as a late-stage biotechnology company that focuses on developing gene therapies for rare and devastating diseases. It has three clinical-stage ex vivo lentiviral vector programs for fanconi anemia, a genetic defect in the bone marrow that reduces production of blood cells or promotes the production of faulty blood cells; leukocyte adhesion deficiency-I, a genetic disorder that causes the immune system to malfunction; and pyruvate kinase deficiency, a rare red blood cell autosomal recessive disorder that results in chronic non-spherocytic hemolytic anemia.