Rocket Pharmaceuticals (NASDAQ:RCKT) Hits New 1-Year Low – Here’s What Happened

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) shares hit a new 52-week low on Tuesday . The stock traded as low as $9.27 and last traded at $9.27, with a volume of 1017927 shares traded. The stock had previously closed at $10.05.

Analyst Ratings Changes

Several analysts recently commented on the stock. Needham & Company LLC restated a “buy” rating and set a $52.00 price target on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. Leerink Partners decreased their price objective on Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating on the stock in a report on Tuesday, November 19th. Cantor Fitzgerald restated an “overweight” rating and set a $65.00 target price on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th. Canaccord Genuity Group reissued a “buy” rating and issued a $39.00 price objective on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th. Finally, Wedbush assumed coverage on Rocket Pharmaceuticals in a research report on Monday, December 30th. They issued an “outperform” rating and a $32.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Rocket Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $47.27.

Rocket Pharmaceuticals Stock Down 8.1 %

The business’s 50 day simple moving average is $11.07 and its 200 day simple moving average is $14.93. 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 company has a market capitalization of $842.20 million, a PE ratio of -3.36 and a beta of 0.99.

Institutional Trading of Rocket Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Covestor Ltd lifted its holdings in Rocket Pharmaceuticals by 33,166.7% during the 4th quarter. Covestor Ltd now owns 1,996 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 1,990 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Rocket Pharmaceuticals by 21.5% during 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 period. Signaturefd LLC boosted its position in shares of Rocket Pharmaceuticals by 319.8% in the 4th quarter. Signaturefd LLC now owns 4,916 shares of the biotechnology company’s stock worth $62,000 after purchasing an additional 3,745 shares during the last quarter. Harbour Investments Inc. grew its stake in shares of Rocket Pharmaceuticals by 51.9% during the fourth quarter. Harbour Investments Inc. now owns 5,385 shares of the biotechnology company’s stock worth $68,000 after purchasing an additional 1,840 shares during the period. Finally, KBC Group NV increased its holdings 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 purchasing an additional 3,366 shares during the last quarter. 98.39% of the stock is currently owned by institutional investors and hedge funds.

About Rocket Pharmaceuticals

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.