Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Get Free Report)'s share price hit a new 52-week low during trading on Friday . The stock traded as low as $12.10 and last traded at $12.10, with a volume of 151721 shares traded. The stock had previously closed at $12.57.
Several brokerages recently issued reports on RCKT. Leerink Partners reduced their price objective on Rocket Pharmaceuticals from $46.00 to $44.00 and set an "outperform" rating for the company in a research note on Tuesday, November 19th. Cantor Fitzgerald reissued an "overweight" rating and issued a $65.00 price target on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. Needham & Company LLC reaffirmed a "buy" rating and set a $52.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. Canaccord Genuity Group reiterated a "buy" rating and issued a $39.00 target price on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. Finally, Scotiabank assumed coverage on shares of Rocket Pharmaceuticals in a research note on Wednesday, October 16th. They set a "sector outperform" rating and a $50.00 target price for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Rocket Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus target price of $51.00.
Check Out Our Latest Stock Analysis on Rocket Pharmaceuticals
The company's 50-day simple moving average is $15.72 and its 200 day simple moving average is $18.99. The company has a current ratio of 6.05, a quick ratio of 6.05 and a debt-to-equity ratio of 0.06.
In other Rocket Pharmaceuticals news, CEO Gaurav Shah sold 11,091 shares of the company's stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $13.05, for a total transaction of $144,737.55. Following the completion of the sale, the chief executive officer now directly owns 707,328 shares in the company, valued at $9,230,630.40. This represents a 1.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders have sold 13,490 shares of company stock valued at $176,045. Corporate insiders own 28.50% of the company's stock.
A number of large investors have recently modified their holdings of the business. Nisa Investment Advisors LLC raised its position in shares of Rocket Pharmaceuticals by 31.9% during the second quarter. Nisa Investment Advisors LLC now owns 3,160 shares of the biotechnology company's stock valued at $68,000 after buying an additional 764 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Rocket Pharmaceuticals by 21.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,292 shares of the biotechnology company's stock valued at $61,000 after acquiring an additional 582 shares during the period. Values First Advisors Inc. acquired a new position in Rocket Pharmaceuticals in the 3rd quarter valued at approximately $108,000. SG Americas Securities LLC bought a new stake in shares of Rocket Pharmaceuticals in the 3rd quarter worth approximately $113,000. Finally, Dana Investment Advisors Inc. grew its holdings in shares of Rocket Pharmaceuticals by 4.4% during the 2nd quarter. Dana Investment Advisors Inc. now owns 13,847 shares of the biotechnology company's stock worth $298,000 after purchasing an additional 586 shares in the last quarter. 98.39% of the stock is currently owned by institutional investors and hedge funds.
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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