Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT – Get Free Report) have been assigned an average rating of “Hold” from the twelve research firms that are currently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $8.8750.
RCKT has been the topic of a number of research analyst reports. Chardan Capital reiterated a “buy” rating and set a $11.00 price objective on shares of Rocket Pharmaceuticals in a research note on Monday, May 11th. Wall Street Zen upgraded shares of Rocket Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings downgraded Rocket Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, June 29th. Finally, Bank of America lifted their price target on Rocket Pharmaceuticals from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Monday, March 30th.
Read Our Latest Report on Rocket Pharmaceuticals
Rocket Pharmaceuticals Stock Down 1.1%
Rocket Pharmaceuticals (NASDAQ:RCKT – Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.01). During the same period last year, the business earned ($0.56) EPS. On average, analysts anticipate that Rocket Pharmaceuticals will post -1.16 EPS for the current year.
Insider Activity at Rocket Pharmaceuticals
In related news, CEO Gaurav Shah sold 55,684 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $3.09, for a total transaction of $172,063.56. Following the sale, the chief executive officer directly owned 1,061,724 shares of the company’s stock, 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 is accessible through this hyperlink. Also, insider Sarbani Chaudhuri sold 17,650 shares of the firm’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $3.84, for a total value of $67,776.00. Following the transaction, the insider owned 267,510 shares in the company, valued at $1,027,238.40. This trade represents a 6.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 valued at $275,307. Insiders own 21.30% of the company’s stock.
Institutional Investors Weigh In On Rocket Pharmaceuticals
Institutional investors have recently modified their holdings of the business. MPM Bioimpact LLC grew its stake in Rocket Pharmaceuticals by 141.2% during the 2nd quarter. MPM Bioimpact LLC now owns 3,903,081 shares of the biotechnology company’s stock worth $9,563,000 after buying an additional 2,284,816 shares during the last quarter. Qube Research & Technologies Ltd lifted its stake in Rocket Pharmaceuticals by 690.8% in the second quarter. Qube Research & Technologies Ltd now owns 1,548,262 shares of the biotechnology company’s stock valued at $3,793,000 after buying an additional 1,352,469 shares during the last quarter. Millennium Management LLC lifted its stake in Rocket Pharmaceuticals by 52.0% in the third quarter. Millennium Management LLC now owns 3,570,391 shares of the biotechnology company’s stock valued at $11,639,000 after buying an additional 1,221,554 shares during the last quarter. Maverick Capital Ltd. boosted its holdings in shares of Rocket Pharmaceuticals by 42.0% during the first quarter. Maverick Capital Ltd. now owns 3,567,372 shares of the biotechnology company’s stock valued at $12,771,000 after acquiring an additional 1,054,262 shares during the period. Finally, Opaleye Management Inc. acquired a new position in shares of Rocket Pharmaceuticals during the fourth quarter valued at $3,352,000. 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.
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