Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Get Free Report)'s share price passed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $4.42 and traded as low as $2.76. Rocket Pharmaceuticals shares last traded at $2.81, with a volume of 2,447,394 shares changing hands.
Analysts Set New Price Targets
RCKT has been the subject of a number of research reports. Wedbush reissued an "outperform" rating and set a $32.00 price objective on shares of Rocket Pharmaceuticals in a research report on Friday, May 16th. Morgan Stanley reissued an "equal weight" rating and issued a $7.00 price target on shares of Rocket Pharmaceuticals in a research note on Wednesday, May 28th. TD Cowen restated a "hold" rating on shares of Rocket Pharmaceuticals in a report on Tuesday, May 27th. Needham & Company LLC cut shares of Rocket Pharmaceuticals from a "buy" rating to a "hold" rating and set a $42.00 target price for the company. in a research note on Tuesday, May 27th. Finally, Cantor Fitzgerald increased their price target on shares of Rocket Pharmaceuticals from $20.00 to $30.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $18.60.
View Our Latest Stock Analysis on RCKT
Rocket Pharmaceuticals Stock Down 1.1%
The firm has a 50-day moving average price of $4.24 and a two-hundred day moving average price of $7.45. The company has a market capitalization of $337.99 million, a P/E ratio of -1.20 and a beta of 0.67. The company has a quick ratio of 9.19, a current ratio of 9.19 and a debt-to-equity ratio of 0.05.
Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last issued its quarterly earnings results on Tuesday, May 13th. The biotechnology company reported ($0.56) earnings per share for the quarter, beating analysts' consensus estimates of ($0.58) by $0.02. During the same quarter in the prior year, the company earned ($0.66) earnings per share. Equities research analysts anticipate that Rocket Pharmaceuticals, Inc. will post -2.83 EPS for the current fiscal year.
Institutional Trading of Rocket Pharmaceuticals
Hedge funds have recently modified their holdings of the company. Envestnet Asset Management Inc. boosted its stake in Rocket Pharmaceuticals by 4.1% during the fourth quarter. Envestnet Asset Management Inc. now owns 32,422 shares of the biotechnology company's stock worth $408,000 after buying an additional 1,280 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Rocket Pharmaceuticals by 8.4% during the 4th quarter. Arizona State Retirement System now owns 19,826 shares of the biotechnology company's stock valued at $249,000 after acquiring an additional 1,528 shares in the last quarter. Virtus ETF Advisers LLC increased its stake in Rocket Pharmaceuticals by 40.4% in the fourth quarter. Virtus ETF Advisers LLC now owns 5,656 shares of the biotechnology company's stock valued at $71,000 after acquiring an additional 1,628 shares during the period. Victory Capital Management Inc. raised its position in Rocket Pharmaceuticals by 16.1% in the first quarter. Victory Capital Management Inc. now owns 11,929 shares of the biotechnology company's stock worth $80,000 after purchasing an additional 1,658 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Rocket Pharmaceuticals by 8.4% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 21,885 shares of the biotechnology company's stock worth $146,000 after purchasing an additional 1,689 shares during the period. Institutional investors own 98.39% of the company's stock.
About Rocket Pharmaceuticals
(
Get Free Report)
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.
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