Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Get Free Report) CEO Gaurav Shah purchased 20,000 shares of the firm's stock in a transaction on Thursday, April 10th. The shares were purchased at an average price of $5.08 per share, for a total transaction of $101,600.00. Following the completion of the purchase, the chief executive officer now directly owns 792,680 shares of the company's stock, valued at $4,026,814.40. This represents a 2.59 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link.
Rocket Pharmaceuticals Trading Up 12.1 %
NASDAQ:RCKT opened at $5.91 on Tuesday. The stock has a fifty day simple moving average of $8.27 and a 200 day simple moving average of $11.96. The company has a quick ratio of 6.05, a current ratio of 6.05 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $630.18 million, a price-to-earnings ratio of -2.15 and a beta of 1.00. Rocket Pharmaceuticals, Inc. has a 1-year low of $4.55 and a 1-year high of $26.98.
Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last posted its quarterly earnings results on Monday, March 3rd. The biotechnology company reported ($0.62) EPS for the quarter, topping the consensus estimate of ($0.68) by $0.06. Sell-side analysts forecast that Rocket Pharmaceuticals, Inc. will post -2.83 earnings per share for the current year.
Institutional Investors Weigh In On Rocket Pharmaceuticals
Hedge funds have recently modified their holdings of the business. Rhumbline Advisers raised its holdings in Rocket Pharmaceuticals by 1.3% in the 4th quarter. Rhumbline Advisers now owns 99,339 shares of the biotechnology company's stock valued at $1,249,000 after acquiring an additional 1,242 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Rocket Pharmaceuticals by 4.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 32,422 shares of the biotechnology company's stock valued at $408,000 after purchasing an additional 1,280 shares in the last quarter. Arizona State Retirement System lifted its position in Rocket Pharmaceuticals by 8.4% in the fourth quarter. Arizona State Retirement System now owns 19,826 shares of the biotechnology company's stock worth $249,000 after purchasing an additional 1,528 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Rocket Pharmaceuticals by 1.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 119,633 shares of the biotechnology company's stock worth $2,210,000 after buying an additional 1,561 shares in the last quarter. Finally, Virtus ETF Advisers LLC increased its holdings in Rocket Pharmaceuticals by 40.4% in the 4th quarter. Virtus ETF Advisers LLC now owns 5,656 shares of the biotechnology company's stock valued at $71,000 after buying an additional 1,628 shares during the period. 98.39% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on RCKT. Canaccord Genuity Group reduced their price objective on shares of Rocket Pharmaceuticals from $39.00 to $36.00 and set a "buy" rating on the stock in a report on Monday, March 3rd. Jefferies Financial Group initiated coverage on Rocket Pharmaceuticals in a report on Wednesday, December 18th. They set a "buy" rating and a $29.00 price target for the company. Scotiabank increased their price objective on Rocket Pharmaceuticals from $51.00 to $52.00 and gave the company a "sector outperform" rating in a report on Monday, March 3rd. BMO Capital Markets started coverage on Rocket Pharmaceuticals in a research report on Wednesday, March 12th. They set an "outperform" rating and a $50.00 target price on the stock. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $42.00 price target on shares of Rocket Pharmaceuticals in a report on Wednesday, April 9th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $43.00.
Check Out Our Latest Research Report on RCKT
About Rocket Pharmaceuticals
(
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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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