Rocket Pharmaceuticals (NASDAQ:RCKT) Stock Price Up 4.3%

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) shares rose 4.3% on Thursday . The stock traded as high as $49.00 and last traded at $48.98. Approximately 8,782 shares traded hands during trading, a decline of 97% from the average daily volume of 329,935 shares. The stock had previously closed at $46.96.

RCKT has been the subject of several recent analyst reports. Chardan Capital reaffirmed a “buy” rating on shares of Rocket Pharmaceuticals in a research report on Wednesday, July 7th. Zacks Investment Research raised shares of Rocket Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Thursday, April 29th. Finally, SVB Leerink increased their target price on shares of Rocket Pharmaceuticals from $61.00 to $66.00 and gave the stock an “outperform” rating in a report on Thursday, April 1st. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $58.55.

The business’s fifty day moving average is $43.87. The firm has a market cap of $3.09 billion, a price-to-earnings ratio of -17.33 and a beta of 1.83. The company has a current ratio of 11.65, a quick ratio of 11.65 and a debt-to-equity ratio of 0.11.

Rocket Pharmaceuticals (NASDAQ:RCKT) last released its earnings results on Monday, May 10th. The biotechnology company reported ($0.65) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.04. During the same quarter last year, the company posted ($0.45) EPS. Equities research analysts anticipate that Rocket Pharmaceuticals, Inc. will post -2.46 EPS for the current fiscal year.

In other Rocket Pharmaceuticals news, Director Rtw Investments, Lp sold 725,000 shares of the stock in a transaction that occurred on Tuesday, May 11th. The shares were sold at an average price of $40.03, for a total transaction of $29,021,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 36.50% of the company’s stock.

Several hedge funds have recently made changes to their positions in RCKT. Meeder Asset Management Inc. acquired a new stake in shares of Rocket Pharmaceuticals during the 1st quarter worth approximately $30,000. Pacer Advisors Inc. grew its position in shares of Rocket Pharmaceuticals by 47.2% during the 1st quarter. Pacer Advisors Inc. now owns 1,447 shares of the biotechnology company’s stock worth $64,000 after buying an additional 464 shares during the period. Penserra Capital Management LLC grew its position in shares of Rocket Pharmaceuticals by 170.1% during the 4th quarter. Penserra Capital Management LLC now owns 1,275 shares of the biotechnology company’s stock worth $69,000 after buying an additional 803 shares during the period. First Mercantile Trust Co. lifted its holdings in shares of Rocket Pharmaceuticals by 28.4% in the 1st quarter. First Mercantile Trust Co. now owns 2,112 shares of the biotechnology company’s stock worth $94,000 after purchasing an additional 467 shares in the last quarter. Finally, E Fund Management Co. Ltd. bought a new position in shares of Rocket Pharmaceuticals in the 1st quarter worth $115,000. 97.29% of the stock is owned by institutional investors.

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 four 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; 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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