Rocket Pharmaceuticals (NASDAQ:RCKT) Trading Down 4.5%

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) fell 4.5% during mid-day trading on Wednesday . The stock traded as low as $22.74 and last traded at $22.77. 75,292 shares changed hands during trading, a decline of 90% from the average session volume of 723,265 shares. The stock had previously closed at $23.85.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on RCKT. UBS Group cut their target price on Rocket Pharmaceuticals from $56.00 to $54.00 and set a “buy” rating for the company in a research note on Friday, March 1st. The Goldman Sachs Group initiated coverage on Rocket Pharmaceuticals in a research note on Tuesday, April 2nd. They set a “neutral” rating and a $39.00 target price for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $65.00 price objective on shares of Rocket Pharmaceuticals in a research note on Tuesday, February 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $53.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday, May 7th. Finally, William Blair reiterated an “outperform” rating on shares of Rocket Pharmaceuticals in a research note on Monday, June 3rd. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.13.

Rocket Pharmaceuticals Trading Down 9.6 %

The company has a fifty day moving average of $22.50 and a 200 day moving average of $26.08. The company has a quick ratio of 10.47, a current ratio of 10.47 and a debt-to-equity ratio of 0.04.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its earnings results on Monday, May 6th. The biotechnology company reported ($0.66) EPS for the quarter, topping the consensus estimate of ($0.67) by $0.01. During the same quarter in the prior year, the company earned ($0.73) EPS. As a group, sell-side analysts anticipate that Rocket Pharmaceuticals, Inc. will post -2.85 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director David P. Southwell sold 10,000 shares of the company’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $24.05, for a total value of $240,500.00. Following the completion of the sale, the director now owns 114,784 shares in the company, valued at approximately $2,760,555.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Rocket Pharmaceuticals news, Director David P. Southwell sold 10,000 shares of Rocket Pharmaceuticals stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $24.05, for a total transaction of $240,500.00. Following the transaction, the director now owns 114,784 shares of the company’s stock, valued at approximately $2,760,555.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mark Andrew White sold 12,532 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $24.64, for a total value of $308,788.48. Following the completion of the transaction, the insider now owns 75,226 shares in the company, valued at approximately $1,853,568.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 105,282 shares of company stock worth $2,551,801. 31.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Rocket Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the business. Annandale Capital LLC purchased a new stake in Rocket Pharmaceuticals during the third quarter worth about $66,000. Tower Research Capital LLC TRC grew its holdings in Rocket Pharmaceuticals by 105.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,557 shares of the biotechnology company’s stock valued at $107,000 after purchasing an additional 1,829 shares during the period. Old Well Partners LLC purchased a new stake in Rocket Pharmaceuticals in the fourth quarter worth $200,000. Capstone Investment Advisors LLC purchased a new stake in Rocket Pharmaceuticals in the fourth quarter worth $217,000. Finally, Amalgamated Bank raised its stake in shares of Rocket Pharmaceuticals by 5.4% in the fourth quarter. Amalgamated Bank now owns 8,653 shares of the biotechnology company’s stock valued at $259,000 after buying an additional 440 shares during the period. 98.39% of the stock is currently owned by institutional investors.

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.