Rocket Pharmaceuticals (NASDAQ:RCKT) Stock Passes Below Two Hundred Day Moving Average – Time to Sell?

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) shares passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $3.64 and traded as low as $2.86. Rocket Pharmaceuticals shares last traded at $2.89, with a volume of 3,575,466 shares.

Analysts Set New Price Targets

RCKT has been the topic of several research reports. Bank of America increased their target price on Rocket Pharmaceuticals from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Monday, March 30th. Wall Street Zen raised Rocket Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Cantor Fitzgerald increased their price target on Rocket Pharmaceuticals from $8.00 to $10.00 and gave the company an “overweight” rating in a research report on Friday, February 27th. The Goldman Sachs Group increased their price target on Rocket Pharmaceuticals to $3.00 and gave the company a “sell” rating in a research report on Monday, March 2nd. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $11.00 price target on shares of Rocket Pharmaceuticals in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Rocket Pharmaceuticals presently has an average rating of “Hold” and a consensus target price of $8.44.

Rocket Pharmaceuticals Trading Up 1.0%

The firm has a market cap of $318.83 million, a PE ratio of -1.56 and a beta of 0.48. The company has a current ratio of 6.12, a quick ratio of 6.12 and a debt-to-equity ratio of 0.08. The business has a fifty day moving average price of $3.50 and a 200 day moving average price of $3.63.

Rocket Pharmaceuticals (NASDAQ:RCKT) last released its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.01). During the same quarter last year, the firm posted ($0.56) earnings per share. Analysts forecast that Rocket Pharmaceuticals, Inc. will post -1.4 EPS for the current year.

Insider Transactions at Rocket Pharmaceuticals

In other news, CEO Gaurav Shah sold 55,684 shares of the stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $3.09, for a total value of $172,063.56. Following the transaction, the chief executive officer owned 1,061,724 shares in the company, valued at approximately $3,280,727.16. This represents a 4.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Sarbani Chaudhuri sold 17,650 shares of the stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $3.84, for a total value of $67,776.00. Following the completion of the transaction, the insider owned 267,510 shares in the company, valued at approximately $1,027,238.40. The trade was a 6.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 83,733 shares of company stock worth $275,307. Company insiders own 21.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Federated Hermes Inc. grew its stake in shares of Rocket Pharmaceuticals by 0.5% in the 3rd quarter. Federated Hermes Inc. now owns 627,567 shares of the biotechnology company’s stock valued at $2,046,000 after purchasing an additional 3,264 shares during the last quarter. Barclays PLC grew its stake in shares of Rocket Pharmaceuticals by 2.4% in the 4th quarter. Barclays PLC now owns 153,049 shares of the biotechnology company’s stock valued at $537,000 after purchasing an additional 3,656 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in shares of Rocket Pharmaceuticals by 1.2% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 309,247 shares of the biotechnology company’s stock valued at $1,085,000 after purchasing an additional 3,809 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its stake in shares of Rocket Pharmaceuticals by 94.4% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 12,202 shares of the biotechnology company’s stock valued at $29,000 after purchasing an additional 5,926 shares during the last quarter. Finally, Sanctuary Advisors LLC grew its stake in shares of Rocket Pharmaceuticals by 63.5% in the 4th quarter. Sanctuary Advisors LLC now owns 17,437 shares of the biotechnology company’s stock valued at $61,000 after purchasing an additional 6,769 shares during the last quarter. Hedge funds and other institutional investors own 98.39% of the company’s stock.

Rocket Pharmaceuticals Company Profile

Rocket Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing gene therapies for rare, inherited pediatric diseases. The company employs a proprietary adeno-associated virus (AAV) and lentiviral vector platform to deliver functional copies of genes in patients with genetic deficiencies. Its programs target a spectrum of disorders, including Fanconi anemia, leukocyte adhesion deficiency type I and Danon disease, with the goal of delivering one-time treatments that address the underlying causes of disease rather than merely managing symptoms.

The company’s pipeline comprises multiple product candidates in various stages of development.