Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Get Free Report) insider Kinnari Patel bought 21,099 shares of the firm's stock in a transaction that occurred on Wednesday, April 9th. The shares were purchased at an average cost of $4.70 per share, for a total transaction of $99,165.30. Following the purchase, the insider now owns 26,774 shares in the company, valued at $125,837.80. This represents a 371.79 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Rocket Pharmaceuticals Price Performance
Shares of RCKT opened at $4.94 on Friday. The firm has a market capitalization of $526.75 million, a price-to-earnings ratio of -1.80 and a beta of 1.00. The firm's fifty day simple moving average is $8.50 and its 200-day simple moving average is $12.18. Rocket Pharmaceuticals, Inc. has a twelve month low of $4.55 and a twelve month high of $26.98. The company has a current ratio of 6.05, a quick ratio of 6.05 and a debt-to-equity ratio of 0.06.
Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last posted its earnings results on Monday, March 3rd. The biotechnology company reported ($0.62) EPS for the quarter, beating the consensus estimate of ($0.68) by $0.06. Equities analysts forecast that Rocket Pharmaceuticals, Inc. will post -2.83 EPS for the current fiscal year.
Hedge Funds Weigh In On Rocket Pharmaceuticals
Several hedge funds have recently added to or reduced their stakes in RCKT. Covestor Ltd boosted its holdings in shares of Rocket Pharmaceuticals by 33,166.7% in the 4th quarter. Covestor Ltd now owns 1,996 shares of the biotechnology company's stock valued at $25,000 after buying an additional 1,990 shares in the last quarter. Signaturefd LLC lifted its position in Rocket Pharmaceuticals by 319.8% in the fourth quarter. Signaturefd LLC now owns 4,916 shares of the biotechnology company's stock valued at $62,000 after acquiring an additional 3,745 shares during the last quarter. Harbour Investments Inc. boosted its stake in Rocket Pharmaceuticals by 51.9% in the fourth quarter. Harbour Investments Inc. now owns 5,385 shares of the biotechnology company's stock valued at $68,000 after acquiring an additional 1,840 shares in the last quarter. KBC Group NV boosted its stake in Rocket Pharmaceuticals by 159.6% in the fourth quarter. KBC Group NV now owns 5,475 shares of the biotechnology company's stock valued at $69,000 after acquiring an additional 3,366 shares in the last quarter. Finally, Virtus ETF Advisers LLC grew its holdings in shares of Rocket Pharmaceuticals by 40.4% during the fourth quarter. Virtus ETF Advisers LLC now owns 5,656 shares of the biotechnology company's stock worth $71,000 after purchasing an additional 1,628 shares during the last quarter. 98.39% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities analysts have weighed in on the company. Canaccord Genuity Group dropped their target price on Rocket Pharmaceuticals from $39.00 to $36.00 and set a "buy" rating for the company in a research report on Monday, March 3rd. Scotiabank lifted their price objective on shares of Rocket Pharmaceuticals from $51.00 to $52.00 and gave the company a "sector outperform" rating in a report on Monday, March 3rd. Jefferies Financial Group initiated coverage on shares of Rocket Pharmaceuticals in a report on Wednesday, December 18th. They set a "buy" rating and a $29.00 target price on the stock. Wedbush initiated coverage on shares of Rocket Pharmaceuticals in a research report on Monday, December 30th. They issued an "outperform" rating and a $32.00 price target for the company. Finally, The Goldman Sachs Group cut their price objective on Rocket Pharmaceuticals from $29.00 to $15.00 and set a "neutral" rating on the stock in a research report on Monday, March 3rd. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Rocket Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average price target of $43.00.
View Our Latest Research Report on RCKT
Rocket Pharmaceuticals Company Profile
(
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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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