Rocket Pharmaceuticals (NASDAQ:RCKT) Trading Up 1.1%

Shares of Rocket Pharmaceuticals Inc (NASDAQ:RCKT) rose 1.1% on Wednesday . The stock traded as high as $13.15 and last traded at $13.29, approximately 6,008 shares were traded during mid-day trading. A decline of 97% from the average daily volume of 238,484 shares. The stock had previously closed at $13.15.

A number of equities analysts have recently issued reports on the company. Zacks Investment Research upgraded Rocket Pharmaceuticals from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research report on Tuesday, August 13th. Oppenheimer dropped their price objective on shares of Rocket Pharmaceuticals from $39.00 to $37.00 and set an “outperform” rating for the company in a report on Tuesday, August 13th. ValuEngine upgraded shares of Rocket Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Finally, William Blair restated a “buy” rating on shares of Rocket Pharmaceuticals in a research report on Wednesday, September 4th. Ten research analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and an average price target of $28.00.

The company’s 50-day moving average is $11.66 and its 200-day moving average is $15.35. The company has a debt-to-equity ratio of 0.18, a quick ratio of 17.48 and a current ratio of 17.48. The firm has a market cap of $663.58 million, a price-to-earnings ratio of -7.20 and a beta of 2.71.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its quarterly earnings data on Wednesday, August 7th. The biotechnology company reported ($0.38) earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.10. On average, analysts predict that Rocket Pharmaceuticals Inc will post -1.82 EPS for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Group One Trading L.P. increased its holdings in shares of Rocket Pharmaceuticals by 103.6% in the first quarter. Group One Trading L.P. now owns 1,999 shares of the biotechnology company’s stock valued at $35,000 after purchasing an additional 1,017 shares in the last quarter. Bank of Montreal Can purchased a new position in Rocket Pharmaceuticals during the 2nd quarter worth $38,000. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new stake in shares of Rocket Pharmaceuticals in the 2nd quarter worth $86,000. BNP Paribas Arbitrage SA bought a new stake in shares of Rocket Pharmaceuticals in the 1st quarter worth $87,000. Finally, Atria Investments LLC purchased a new stake in shares of Rocket Pharmaceuticals in the second quarter valued at about $108,000. 97.15% of the stock is currently owned by institutional investors and hedge funds.

About Rocket Pharmaceuticals (NASDAQ:RCKT)

Rocket Pharmaceuticals, Inc, together with its subsidiaries, operates as a multi-platform biotechnology company that focuses on developing gene therapies for rare and devastating pediatric diseases. It has clinical-stage lentiviral vector (LVV) programs under clinical testing to treat fanconi anemia, a genetic defect in the bone marrow that reduces production of blood cells or promotes the production of faulty blood cells; and leukocyte adhesion deficiency-I, a genetic disorder that causes the immune system to malfunction It also has additional pre-clinical stage LVV programs include pyruvate kinase deficiency, a rare red blood cell autosomal recessive disorder that results in chronic non-spherocytic hemolytic anemia; and infantile malignant osteopetrosis, a genetic disorder characterized by increased bone density and bone mass secondary to impaired bone resorption.

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