Rocket Pharmaceuticals (NASDAQ:RCKT) Stock Rating Lowered by Wall Street Zen

Rocket Pharmaceuticals (NASDAQ:RCKT) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Sunday.

RCKT has been the subject of a number of other reports. Bank of America cut their price objective on Rocket Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Tuesday, November 18th. Morgan Stanley set a $5.00 price target on shares of Rocket Pharmaceuticals in a research note on Thursday, January 8th. JPMorgan Chase & Co. cut shares of Rocket Pharmaceuticals from a “neutral” rating to an “underweight” rating in a research report on Tuesday, November 18th. Cantor Fitzgerald increased their price objective on shares of Rocket Pharmaceuticals from $8.00 to $10.00 and gave the company an “overweight” rating in a report on Friday, February 27th. Finally, TD Cowen upgraded shares of Rocket Pharmaceuticals to a “hold” rating in a research report on Friday, December 19th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $13.79.

Rocket Pharmaceuticals Price Performance

NASDAQ:RCKT opened at $5.11 on Friday. Rocket Pharmaceuticals has a 52 week low of $2.19 and a 52 week high of $8.90. The company has a quick ratio of 6.38, a current ratio of 6.38 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $554.79 million, a PE ratio of -2.54 and a beta of 0.39. The stock’s 50-day moving average price is $3.77 and its 200-day moving average price is $3.51.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its quarterly earnings results on Thursday, February 26th. The biotechnology company reported ($0.38) earnings per share for the quarter, beating the consensus estimate of ($0.42) by $0.04. During the same period in the previous year, the business posted ($0.62) earnings per share. As a group, equities analysts expect that Rocket Pharmaceuticals will post -2.83 EPS for the current fiscal year.

Insider Buying and Selling at Rocket Pharmaceuticals

In other news, General Counsel Martin Wilson sold 12,253 shares of the company’s stock in a transaction on Friday, February 13th. The shares were sold at an average price of $3.31, for a total transaction of $40,557.43. Following the completion of the sale, the general counsel owned 683,376 shares of the company’s stock, valued at $2,261,974.56. This represents a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gaurav Shah sold 12,279 shares of the stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $3.31, for a total transaction of $40,643.49. Following the completion of the sale, the chief executive officer owned 1,052,045 shares of the company’s stock, valued at $3,482,268.95. This trade represents a 1.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 29,415 shares of company stock valued at $97,398. 24.76% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Rocket Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the business. Corient Private Wealth LLC purchased a new stake in Rocket Pharmaceuticals during the 4th quarter valued at about $98,000. Invesco Ltd. lifted its stake in Rocket Pharmaceuticals by 36.9% in the 4th quarter. Invesco Ltd. now owns 304,437 shares of the biotechnology company’s stock worth $1,069,000 after purchasing an additional 81,984 shares in the last quarter. Virtus Investment Advisers LLC boosted its holdings in shares of Rocket Pharmaceuticals by 111.7% during the 4th quarter. Virtus Investment Advisers LLC now owns 78,474 shares of the biotechnology company’s stock worth $275,000 after purchasing an additional 41,410 shares during the last quarter. Opaleye Management Inc. purchased a new stake in shares of Rocket Pharmaceuticals in the fourth quarter valued at approximately $3,352,000. Finally, Engineers Gate Manager LP increased its holdings in shares of Rocket Pharmaceuticals by 34.5% in the fourth quarter. Engineers Gate Manager LP now owns 96,009 shares of the biotechnology company’s stock valued at $337,000 after purchasing an additional 24,603 shares during the last quarter. 98.39% of the stock is currently owned by institutional investors and hedge funds.

About Rocket Pharmaceuticals

Rocket Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing gene therapies for rare, inherited pediatric diseases. The company employs a proprietary adeno-associated virus (AAV) and lentiviral vector platform to deliver functional copies of genes in patients with genetic deficiencies. Its programs target a spectrum of disorders, including Fanconi anemia, leukocyte adhesion deficiency type I and Danon disease, with the goal of delivering one-time treatments that address the underlying causes of disease rather than merely managing symptoms.

The company’s pipeline comprises multiple product candidates in various stages of development.