In yesterday’s Wall Street session, Rocket Pharmaceuticals Inc. (NASDAQ:RCKT) shares traded at $24.05, up 13.28% from the previous session.
As of this writing, 11 analysts cover Rocket Pharmaceuticals Inc. (NASDAQ:RCKT). The consensus rating among analysts is ‘Buy’. RCKT stock price is now 39.05% away from the 50-day moving average and 25.18% away from the 200-day moving average. The market capitalization of the company currently stands at $1.97B.
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There are 0 analysts who have given it a hold rating, whereas 11 have given it a buy rating.
With the price target of $45, Morgan Stanley recently initiated with Overweight rating for Rocket Pharmaceuticals Inc. (NASDAQ: RCKT).
In other news, Shah Gaurav, CEO sold 4,767 shares of the company’s stock on Aug 17. The stock was sold for $73,750 at an average price of $15.47. Upon completion of the transaction, the CEO now directly owns 524,854 shares in the company, valued at $12.62 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 17, Patel Kinnari sold 1,534 shares of the business’s stock. A total of $23,733 was realized by selling the stock at an average price of $15.47. This leaves the insider owning 216,448 shares of the company worth $5.21 million. Insiders disposed of 27,425 shares of company stock worth roughly $0.66 million over the past 1 year. A total of 3.76% 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 PFM HEALTH SCIENCES, LP during the first quarter worth $5,742,000. MILLENNIUM MANAGEMENT LLC invested $4,310,000 in shares of RCKT during the first quarter. In the first quarter, GHOST TREE CAPITAL, LLC acquired a new stake in Rocket Pharmaceuticals Inc. valued at approximately $1,804,000. HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND acquired a new stake in RCKT for approximately $986,000. JENNISON ASSOCIATES LLC purchased a new stake in RCKT valued at around $810,000 in the second quarter. In total, there are 258 active investors with 89.70% ownership of the company’s stock.
Thursday morning saw Rocket Pharmaceuticals Inc. (NASDAQ: RCKT) opened at $21.37. During the past 12 months, Rocket Pharmaceuticals Inc. has had a low of $11.78 and a high of $24.53. As of last week, the company has a debt-to-equity ratio of 0.05, a current ratio of 9.10, and a quick ratio of 9.10. The fifty day moving average price for RCKT is $17.38 and a two-hundred day moving average price translates $19.24 for the stock.
The latest earnings results from Rocket Pharmaceuticals Inc. (NASDAQ: RCKT) was released for Jun, 2023. According to the Biotechnology Company, earnings per share came in at -$0.82, missing analysts’ expectations of -$0.79 by -0.03. This compares to -$0.83 EPS in the same period last year. The company reported revenue of $68.76 million for the quarter, compared to $54.21 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 26.83 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, Centro de Investigacion Biomedica En Red, and Fundacion Instituto de investigacion Sanitaria Fundacion Jimenez Diaz; UCL Business PLC; The Regents of the University of California; and REGENXBIO, Inc. The company is headquartered in Cranbury, New Jersey.
