Rocket Pharmaceuticals Inc (NASDAQ:RCKT) shares saw unusually-strong trading volume on Friday . Approximately 1,689,027 shares traded hands during mid-day trading, an increase of 668% from the previous session’s volume of 219,926 shares.The stock last traded at $15.92 and had previously closed at $15.10.
A number of analysts recently commented on RCKT shares. Zacks Investment Research lowered Rocket Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday. Bank of America initiated coverage on Rocket Pharmaceuticals in a research report on Friday. They issued a “buy” rating and a $27.00 price objective for the company. Oppenheimer initiated coverage on Rocket Pharmaceuticals in a research report on Tuesday, February 5th. They set an “outperform” rating and a $39.00 target price for the company. Leerink Swann initiated coverage on Rocket Pharmaceuticals in a research report on Tuesday, November 27th. They set an “outperform” rating and a $22.00 target price for the company. Finally, Cowen initiated coverage on Rocket Pharmaceuticals in a research report on Tuesday, February 26th. They set an “outperform” rating for the company. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. Rocket Pharmaceuticals has an average rating of “Buy” and a consensus price target of $28.83.
The stock has a market capitalization of $655.11 million, a PE ratio of -8.42 and a beta of 3.13. The company has a debt-to-equity ratio of 0.21, a current ratio of 13.60 and a quick ratio of 12.52.
Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its earnings results on Thursday, March 7th. The biotechnology company reported ($0.66) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.45) by ($0.21). On average, equities research analysts forecast that Rocket Pharmaceuticals Inc will post -2.86 EPS for the current year.
In other news, insider Gaurav Shah sold 74,900 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $17.17, for a total transaction of $1,286,033.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 47.67% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the company. Teachers Advisors LLC grew its position in shares of Rocket Pharmaceuticals by 8.9% in the 3rd quarter. Teachers Advisors LLC now owns 43,490 shares of the biotechnology company’s stock valued at $1,071,000 after purchasing an additional 3,541 shares during the period. FMR LLC acquired a new position in shares of Rocket Pharmaceuticals in the 3rd quarter valued at approximately $26,398,000. Northern Trust Corp grew its position in shares of Rocket Pharmaceuticals by 622.2% in the 2nd quarter. Northern Trust Corp now owns 239,036 shares of the biotechnology company’s stock valued at $4,693,000 after purchasing an additional 205,938 shares during the period. BlackRock Inc. grew its position in shares of Rocket Pharmaceuticals by 12.4% in the 3rd quarter. BlackRock Inc. now owns 1,468,109 shares of the biotechnology company’s stock valued at $36,146,000 after purchasing an additional 162,233 shares during the period. Finally, Nisa Investment Advisors LLC acquired a new position in shares of Rocket Pharmaceuticals in the 4th quarter valued at approximately $79,000. Institutional investors own 97.07% of the company’s stock.
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 pediatric diseases. It has two lentiviral vector (LVV) programs under clinical testing to treat fanconi anemia, a genetic defect in the bone marrow that reduces production of blood cells; and three LVV programs for the treatment of other rare genetic diseases, as well as an adeno-associated viral vector program, which is under preclinical development.
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