Rocket Pharmaceuticals (NASDAQ:RCKT – Get Free Report) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.
A number of other brokerages also recently commented on RCKT. Bank of America increased their price target on Rocket Pharmaceuticals from $8.00 to $9.00 and gave the company a “buy” rating in a report on Monday, March 30th. Chardan Capital restated a “buy” rating and set a $11.00 price objective on shares of Rocket Pharmaceuticals in a report on Monday, May 11th. Finally, Weiss Ratings raised Rocket Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $8.88.
Get Our Latest Stock Analysis on Rocket Pharmaceuticals
Rocket Pharmaceuticals Price Performance
Rocket Pharmaceuticals (NASDAQ:RCKT – Get Free Report) last posted its quarterly earnings data 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 quarter in the prior year, the firm earned ($0.56) EPS. Equities research analysts expect that Rocket Pharmaceuticals will post -1.16 EPS for the current fiscal year.
Insider Activity
In related news, insider Sarbani Chaudhuri sold 17,650 shares of Rocket Pharmaceuticals stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $3.84, for a total value of $67,776.00. Following the completion of the transaction, the insider directly owned 267,510 shares in the company, valued at approximately $1,027,238.40. This trade represents a 6.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Gaurav Shah sold 55,684 shares of Rocket Pharmaceuticals 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 completion of the transaction, the chief executive officer owned 1,061,724 shares of the company’s stock, valued at $3,280,727.16. This trade represents a 4.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 83,733 shares of company stock valued at $275,307 in the last three months. Insiders own 21.30% of the company’s stock.
Institutional Trading of Rocket Pharmaceuticals
Several institutional investors and hedge funds have recently bought and sold shares of RCKT. MPM Bioimpact LLC lifted its stake in Rocket Pharmaceuticals by 141.2% during the second quarter. MPM Bioimpact LLC now owns 3,903,081 shares of the biotechnology company’s stock worth $9,563,000 after purchasing an additional 2,284,816 shares during the last quarter. Qube Research & Technologies Ltd increased its stake in Rocket Pharmaceuticals by 690.8% during 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 purchasing an additional 1,352,469 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Rocket Pharmaceuticals by 52.0% during the third quarter. Millennium Management LLC now owns 3,570,391 shares of the biotechnology company’s stock worth $11,639,000 after purchasing an additional 1,221,554 shares during the period. Maverick Capital Ltd. raised 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 worth $12,771,000 after purchasing an additional 1,054,262 shares during the period. Finally, Opaleye Management Inc. bought a new position in shares of Rocket Pharmaceuticals in the 4th quarter worth about $3,352,000. Institutional investors and hedge funds 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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