Rocket Pharmaceuticals (NASDAQ:RCKT) Shares Up 6.1%
Rocket Pharmaceuticals Inc (NASDAQ:RCKT) shot up 6.1% during mid-day trading on Friday . The stock traded as high as $13.94 and last traded at $13.85, 577,520 shares were traded during trading. An increase of 92% from the average session volume of 301,498 shares. The stock had previously closed at $13.05.
Several brokerages recently issued reports on RCKT. William Blair reiterated a “buy” rating on shares of Rocket Pharmaceuticals in a research report on Tuesday, September 10th. ValuEngine upgraded shares of Rocket Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Oppenheimer reduced their price target on shares of Rocket Pharmaceuticals from $39.00 to $37.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 13th. Finally, Zacks Investment Research upgraded shares of Rocket Pharmaceuticals from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research report on Tuesday, August 13th. Nine research analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and a consensus price target of $27.60.
The company’s 50-day moving average is $11.91 and its 200-day moving average is $15.24. The firm has a market cap of $657.05 million, a price-to-earnings ratio of -7.33 and a beta of 2.71. The company has a debt-to-equity ratio of 0.18, a quick ratio of 17.48 and a current ratio of 17.48.
Large investors have recently made changes to their positions in the business. Zeke Capital Advisors LLC bought a new stake in Rocket Pharmaceuticals during the 2nd quarter worth about $153,000. Morgens Waterfall Vintiadis & Co. Inc. bought a new stake in Rocket Pharmaceuticals during the 2nd quarter worth about $300,000. Vivo Capital LLC bought a new stake in Rocket Pharmaceuticals during the 2nd quarter worth about $11,801,000. Group One Trading L.P. raised its holdings in Rocket Pharmaceuticals by 103.6% during the 1st quarter. Group One Trading L.P. now owns 1,999 shares of the biotechnology company’s stock worth $35,000 after purchasing an additional 1,017 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in Rocket Pharmaceuticals during the 1st quarter worth about $2,560,000. 97.15% of the stock is owned by hedge funds and other institutional investors.
About Rocket Pharmaceuticals (NASDAQ:RCKT)
Rocket Pharmaceuticals, Inc, together with its subsidiaries, operates as a multi-platform biotechnology company that focuses on developing gene therapies for rare and devastating pediatric diseases. It has clinical-stage lentiviral vector (LVV) programs under clinical testing to treat fanconi anemia, a genetic defect in the bone marrow that reduces production of blood cells or promotes the production of faulty blood cells; and leukocyte adhesion deficiency-I, a genetic disorder that causes the immune system to malfunction It also has additional pre-clinical stage LVV programs include pyruvate kinase deficiency, a rare red blood cell autosomal recessive disorder that results in chronic non-spherocytic hemolytic anemia; and infantile malignant osteopetrosis, a genetic disorder characterized by increased bone density and bone mass secondary to impaired bone resorption.
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