Rocket Pharmaceuticals (NASDAQ:RCKT) Stock Price Up 3.9%

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) shares traded up 3.9% on Wednesday . The stock traded as high as $19.04 and last traded at $19.00. 297,572 shares traded hands during trading, a decline of 61% from the average session volume of 768,370 shares. The stock had previously closed at $18.29.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Chardan Capital reiterated a “buy” rating and issued a $62.00 price objective on shares of Rocket Pharmaceuticals in a research note on Tuesday, August 6th. JPMorgan Chase & Co. lifted their target price on shares of Rocket Pharmaceuticals from $50.00 to $54.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Canaccord Genuity Group decreased their price target on shares of Rocket Pharmaceuticals from $49.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $52.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday, September 17th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $65.00 price target on shares of Rocket Pharmaceuticals in a research report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $52.29.

Rocket Pharmaceuticals Stock Performance

The company has a debt-to-equity ratio of 0.05, a quick ratio of 7.79 and a current ratio of 7.79. The company has a market capitalization of $1.68 billion, a PE ratio of -6.53 and a beta of 1.09. The business’s 50-day moving average is $20.24 and its 200-day moving average is $22.29.

Rocket Pharmaceuticals (NASDAQ:RCKT) last released its quarterly earnings data on Monday, August 5th. The biotechnology company reported ($0.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.02). During the same quarter last year, the company posted ($0.82) EPS. On average, research analysts anticipate that Rocket Pharmaceuticals, Inc. will post -2.97 earnings per share for the current year.

Insider Activity at Rocket Pharmaceuticals

In related news, insider Mark Andrew White sold 3,026 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $20.39, for a total transaction of $61,700.14. Following the transaction, the insider now owns 72,220 shares in the company, valued at $1,472,565.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 31.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Rocket Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC increased its holdings in Rocket Pharmaceuticals by 31.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,160 shares of the biotechnology company’s stock worth $68,000 after acquiring an additional 764 shares in the last quarter. Old Well Partners LLC purchased a new position in Rocket Pharmaceuticals during the 4th quarter valued at approximately $200,000. Capstone Investment Advisors LLC purchased a new position in shares of Rocket Pharmaceuticals in the fourth quarter valued at $217,000. Dana Investment Advisors Inc. increased its holdings in shares of Rocket Pharmaceuticals by 4.4% in the 2nd quarter. Dana Investment Advisors Inc. now owns 13,847 shares of the biotechnology company’s stock worth $298,000 after buying an additional 586 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in Rocket Pharmaceuticals during the fourth quarter valued at approximately $332,000. Hedge funds and other institutional investors own 98.39% of the company’s stock.

About Rocket Pharmaceuticals

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.