Rocket Pharmaceuticals (NASDAQ:RCKT) Shares Up 9.2%

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKTGet Rating)’s stock price was up 9.2% on Thursday . The stock traded as high as $13.13 and last traded at $13.10. Approximately 13,118 shares traded hands during trading, a decline of 99% from the average daily volume of 883,044 shares. The stock had previously closed at $12.00.

Several equities analysts have recently weighed in on RCKT shares. William Blair restated an “outperform” rating on shares of Rocket Pharmaceuticals in a research report on Thursday, May 5th. SVB Leerink upped their price objective on shares of Rocket Pharmaceuticals from $64.00 to $66.00 and gave the company an “outperform” rating in a research note on Friday, May 20th. StockNews.com initiated coverage on shares of Rocket Pharmaceuticals in a research note on Thursday, March 31st. They set a “sell” rating for the company. Chardan Capital upped their price objective on shares of Rocket Pharmaceuticals from $60.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, May 19th. Finally, Stifel Nicolaus upped their price objective on shares of Rocket Pharmaceuticals from $63.00 to $67.00 in a research note on Thursday, May 19th. One analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Rocket Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $64.25.

The stock has a market cap of $868.43 million, a P/E ratio of -4.75 and a beta of 1.91. The firm’s 50-day moving average is $11.14 and its two-hundred day moving average is $15.84. The company has a quick ratio of 15.68, a current ratio of 15.68 and a debt-to-equity ratio of 0.05.

Rocket Pharmaceuticals (NASDAQ:RCKTGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The biotechnology company reported ($0.67) earnings per share for the quarter, beating the consensus estimate of ($0.70) by $0.03. During the same quarter in the prior year, the business posted ($0.65) EPS. Analysts anticipate that Rocket Pharmaceuticals, Inc. will post -2.7 earnings per share for the current fiscal year.

In other news, insider Jonathan David Schwartz sold 45,000 shares of the firm’s stock in a transaction on Wednesday, March 30th. The shares were sold at an average price of $16.41, for a total value of $738,450.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 36.50% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of RCKT. Goldman Sachs Group Inc. boosted its stake in Rocket Pharmaceuticals by 133.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,551,774 shares of the biotechnology company’s stock worth $24,612,000 after buying an additional 886,919 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Rocket Pharmaceuticals by 145.9% during the first quarter. Assenagon Asset Management S.A. now owns 1,320,561 shares of the biotechnology company’s stock worth $20,944,000 after buying an additional 783,621 shares in the last quarter. M28 Capital Management LP acquired a new stake in Rocket Pharmaceuticals during the fourth quarter worth $10,812,000. Federated Hermes Inc. acquired a new stake in Rocket Pharmaceuticals during the first quarter worth $6,786,000. Finally, State Street Corp lifted its holdings in shares of Rocket Pharmaceuticals by 17.5% during the first quarter. State Street Corp now owns 2,753,647 shares of the biotechnology company’s stock valued at $43,673,000 after acquiring an additional 410,234 shares during the period.

Rocket Pharmaceuticals Company Profile (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 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.

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