The price of Rocket Pharmaceuticals Inc. (NASDAQ:RCKT) shares last traded on Wall Street rose 0.66% to $18.19.
RCKT stock price is now 9.49% away from the 50-day moving average and 21.03% away from the 200-day moving average. The market capitalization of the company currently stands at $1.38B.
With the price target of $53, Canaccord Genuity recently initiated with Buy rating for Rocket Pharmaceuticals Inc. (NASDAQ: RCKT). On November 01, 2022, BTIG Research recently initiated its ‘Buy’ rating on the stock quoting a target price of $35, while ‘Raymond James’ rates the stock as ‘Outperform’.
In other news, RTW INVESTMENTS, LP, Director bought 1,355,932 shares of the company’s stock on Oct 06. The stock was bought for $19,999,997 at an average price of $14.75. Upon completion of the transaction, the Director now directly owns 17,628,567 shares in the company, valued at $320.66 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 30, See Remarks Schwartz Jonathan David sold 45,000 shares of the business’s stock. A total of $738,652 was realized by selling the stock at an average price of $16.41. This leaves the insider owning 179,529 shares of the company worth $3.27 million. Insiders disposed of 180,000 shares of company stock worth roughly $3.27 million over the past 1 year. A total of 3.83% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in RCKT stock. A new stake in Rocket Pharmaceuticals Inc. shares was purchased by DEERFIELD MANAGEMENT COMPANY, L.P. (SERIES C) during the first quarter worth $15,825,000. ALLY BRIDGE GROUP (NY) LLC invested $8,722,000 in shares of RCKT during the first quarter. In the first quarter, HEALTHCOR MANAGEMENT, L.P. acquired a new stake in Rocket Pharmaceuticals Inc. valued at approximately $8,097,000. TIGER MANAGEMENT LLC acquired a new stake in RCKT for approximately $5,088,000. CUBIST SYSTEMATIC STRATEGIES, LLC purchased a new stake in RCKT valued at around $2,858,000 in the second quarter. In total, there are 238 active investors with 93.30% ownership of the company’s stock.
A candlestick chart of Rocket Pharmaceuticals Inc. (NASDAQ: RCKT) showed a price of $18.07 on Wednesday morning. During the past 12 months, Rocket Pharmaceuticals Inc. has had a low of $7.57 and a high of $26.49. As of last week, the company has a debt-to-equity ratio of 0.06, a current ratio of 10.30, and a quick ratio of 10.30. The fifty day moving average price for RCKT is $16.61 and a two-hundred day moving average price translates $15.03 for the stock.
The latest earnings results from Rocket Pharmaceuticals Inc. (NASDAQ: RCKT) was released for Jun, 2022. According to the Biotechnology Company, earnings per share came in at -$0.83, missing analysts’ expectations of -$0.68 by -0.15. This compares to -$0.79 EPS in the same period last year. The company reported revenue of $58.49 million for the quarter, compared to $49.65 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 17.81 percent.
Rocket Pharmaceuticals Inc.(RCKT) Company Profile
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. The company also has a clinical stage in vivo adeno-associated virus program for Danon disease, a multi-organ lysosomal-associated disorder leading to early death due to heart failure. It has license agreements with Fred Hutchinson Cancer Research Center; Centro de Investigaciones Energéticas, Medioambientales y Tecnológicas (CIEMAT), Centro de Investigacion Biomedica En Red, and Fundacion Instituto de investigacion Sanitaria Fundacion Jimenez Diaz; CIEMAT and UCL Business PLC; The Regents of the University of California; and REGENXBIO, Inc. Rocket Pharmaceuticals, Inc. is headquartered in Cranbury, New Jersey.