Rocket Pharmaceuticals (NASDAQ:RCKT) Stock Price Down 5.3% – What’s Next?

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)’s stock price was down 5.3% during trading on Monday . The stock traded as low as $17.73 and last traded at $17.82. Approximately 187,672 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 783,464 shares. The stock had previously closed at $18.82.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on RCKT shares. JPMorgan Chase & Co. boosted their price target on shares of Rocket Pharmaceuticals from $50.00 to $54.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. Canaccord Genuity Group restated a “buy” rating and issued a $38.00 price target on shares of Rocket Pharmaceuticals in a report on Monday, September 30th. Cantor Fitzgerald restated an “overweight” rating and issued a $65.00 price target on shares of Rocket Pharmaceuticals in a report on Tuesday, August 6th. Scotiabank assumed coverage on shares of Rocket Pharmaceuticals in a research report on Wednesday, October 16th. They issued a “sector outperform” rating and a $50.00 price objective on the stock. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $62.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $51.75.

Rocket Pharmaceuticals Stock Performance

The company has a market cap of $1.60 billion, a PE ratio of -6.17 and a beta of 1.09. The company has a current ratio of 7.79, a quick ratio of 7.79 and a debt-to-equity ratio of 0.05. The firm’s 50-day simple moving average is $18.49 and its two-hundred day simple moving average is $21.03.

Rocket Pharmaceuticals (NASDAQ:RCKT) last released its earnings results on Monday, August 5th. The biotechnology company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.02). During the same period in the prior year, the firm earned ($0.82) EPS. As a group, research analysts anticipate that Rocket Pharmaceuticals, Inc. will post -2.97 earnings per share for the current fiscal year.

Institutional Trading of Rocket Pharmaceuticals

Several large investors have recently made changes to their positions in the business. Values First Advisors Inc. purchased a new stake in shares of Rocket Pharmaceuticals in the 3rd quarter valued at $108,000. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Rocket Pharmaceuticals by 8.3% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 221,046 shares of the biotechnology company’s stock valued at $4,083,000 after acquiring an additional 16,936 shares during the last quarter. Harbour Capital Advisors LLC boosted its holdings in shares of Rocket Pharmaceuticals by 48.4% in the 3rd quarter. Harbour Capital Advisors LLC now owns 53,690 shares of the biotechnology company’s stock valued at $992,000 after acquiring an additional 17,510 shares during the last quarter. Mirador Capital Partners LP purchased a new stake in shares of Rocket Pharmaceuticals in the 3rd quarter valued at $310,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Rocket Pharmaceuticals in the 3rd quarter valued at $113,000. 98.39% of the stock is owned by hedge funds and other institutional investors.

Rocket Pharmaceuticals Company Profile

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.