Rocket Pharmaceuticals (NASDAQ:RCKT) Shares Gap Up – Here’s What Happened

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKTGet Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $11.92, but opened at $12.71. Rocket Pharmaceuticals shares last traded at $12.29, with a volume of 166,612 shares.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RCKT. Chardan Capital reissued a “buy” rating and issued a $62.00 price objective on shares of Rocket Pharmaceuticals in a research note on Monday, November 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $52.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. Scotiabank initiated coverage on shares of Rocket Pharmaceuticals in a research note on Wednesday, October 16th. They set a “sector outperform” rating and a $50.00 target price on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $39.00 target price on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. Finally, Leerink Partners reduced their price objective on shares of Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating for the company in a report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $48.80.

Read Our Latest Report on Rocket Pharmaceuticals

Rocket Pharmaceuticals Stock Performance

The firm has a market capitalization of $1.12 billion, a P/E ratio of -4.33 and a beta of 1.01. The company has a current ratio of 6.05, a quick ratio of 6.05 and a debt-to-equity ratio of 0.06. The business’s 50 day simple moving average is $15.53 and its two-hundred day simple moving average is $18.83.

Insider Transactions at Rocket Pharmaceuticals

In other Rocket Pharmaceuticals news, CEO Gaurav Shah sold 11,091 shares of Rocket Pharmaceuticals stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $13.05, for a total transaction of $144,737.55. Following the transaction, the chief executive officer now owns 707,328 shares of the company’s stock, valued at $9,230,630.40. The trade was a 1.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 13,490 shares of company stock worth $176,045 in the last ninety days. Insiders own 28.50% of the company’s stock.

Hedge Funds Weigh In On Rocket Pharmaceuticals

Institutional investors have recently bought and sold shares of the stock. Nisa Investment Advisors LLC raised its holdings in shares of Rocket Pharmaceuticals by 31.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,160 shares of the biotechnology company’s stock worth $68,000 after acquiring an additional 764 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Rocket Pharmaceuticals by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,292 shares of the biotechnology company’s stock worth $61,000 after acquiring an additional 582 shares during the last quarter. Values First Advisors Inc. purchased a new position in shares of Rocket Pharmaceuticals during the 3rd quarter worth about $108,000. SG Americas Securities LLC purchased a new stake in Rocket Pharmaceuticals in the 3rd quarter worth about $113,000. Finally, Dana Investment Advisors Inc. boosted its position in shares of Rocket Pharmaceuticals by 4.4% during the second quarter. Dana Investment Advisors Inc. now owns 13,847 shares of the biotechnology company’s stock valued at $298,000 after buying an additional 586 shares during the period. 98.39% of the stock is owned by hedge funds and other institutional investors.

Rocket Pharmaceuticals Company Profile

(Get Free Report)

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.

Featured Stories

Receive News & Ratings for Rocket Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rocket Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.