Rocket Pharmaceuticals (NASDAQ:RCKT) Hits New 1-Year Low – Time to Sell?

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)’s stock price reached a new 52-week low during trading on Thursday . The stock traded as low as $10.07 and last traded at $10.48, with a volume of 1500415 shares trading hands. The stock had previously closed at $10.16.

Wall Street Analyst Weigh In

RCKT has been the subject of several recent research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $52.00 target price on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $65.00 target price on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th. Jefferies Financial Group began coverage on Rocket Pharmaceuticals in a report on Wednesday, December 18th. They set a “buy” rating and a $29.00 target price for the company. Chardan Capital reiterated a “buy” rating and set a $62.00 price objective on shares of Rocket Pharmaceuticals in a research report on Monday, November 18th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $39.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Rocket Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.27.

Rocket Pharmaceuticals Price Performance

The stock has a market capitalization of $976.32 million, a price-to-earnings ratio of -3.89 and a beta of 1.01. The company has a quick ratio of 6.05, a current ratio of 6.05 and a debt-to-equity ratio of 0.06. The business has a 50-day simple moving average of $12.32 and a two-hundred day simple moving average of $16.81.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its quarterly earnings data on Thursday, November 7th. The biotechnology company reported ($0.71) EPS for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.07. As a group, research analysts predict that Rocket Pharmaceuticals, Inc. will post -2.83 earnings per share for the current fiscal year.

Insider Activity

In other Rocket Pharmaceuticals news, CEO Gaurav Shah sold 11,091 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $13.05, for a total transaction of $144,737.55. Following the sale, the chief executive officer now directly owns 707,328 shares of the company’s stock, valued at $9,230,630.40. The trade was a 1.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders sold 13,490 shares of company stock worth $176,045. Insiders own 28.50% of the company’s stock.

Institutional Trading of Rocket Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in Rocket Pharmaceuticals by 22.8% during the 3rd quarter. Wellington Management Group LLP now owns 11,242,144 shares of the biotechnology company’s stock valued at $207,642,000 after purchasing an additional 2,086,424 shares during the period. Westfield Capital Management Co. LP increased its stake in shares of Rocket Pharmaceuticals by 3.8% in the third quarter. Westfield Capital Management Co. LP now owns 4,493,833 shares of the biotechnology company’s stock worth $83,001,000 after acquiring an additional 165,911 shares during the last quarter. Maverick Capital Ltd. increased its stake in shares of Rocket Pharmaceuticals by 4.8% in the third quarter. Maverick Capital Ltd. now owns 4,118,672 shares of the biotechnology company’s stock worth $76,072,000 after acquiring an additional 190,360 shares during the last quarter. State Street Corp increased its stake in shares of Rocket Pharmaceuticals by 11.6% in the third quarter. State Street Corp now owns 3,102,022 shares of the biotechnology company’s stock worth $57,294,000 after acquiring an additional 322,156 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Rocket Pharmaceuticals by 0.9% in the third quarter. Geode Capital Management LLC now owns 1,617,866 shares of the biotechnology company’s stock worth $29,888,000 after acquiring an additional 14,256 shares during the last quarter. 98.39% of the stock is owned by institutional investors and hedge funds.

About Rocket Pharmaceuticals

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.