Other equities research analysts have also recently issued reports about the company. Robert W. Baird assumed coverage on Rocket Pharmaceuticals in a research report on Monday, April 22nd. They issued an outperform rating for the company. Cowen reissued a buy rating on shares of Rocket Pharmaceuticals in a research report on Wednesday, May 8th. Zacks Investment Research cut Rocket Pharmaceuticals from a buy rating to a hold rating in a research report on Saturday, July 27th. Finally, William Blair reissued a buy rating on shares of Rocket Pharmaceuticals in a research report on Wednesday, May 1st. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Rocket Pharmaceuticals currently has a consensus rating of Buy and an average price target of $28.50.
Shares of RCKT traded down $0.34 during mid-day trading on Thursday, hitting $11.54. The company’s stock had a trading volume of 6,684 shares, compared to its average volume of 470,710. Rocket Pharmaceuticals has a one year low of $10.75 and a one year high of $25.96. The company has a debt-to-equity ratio of 0.25, a current ratio of 9.70 and a quick ratio of 9.70. The firm has a market capitalization of $597.43 million, a price-to-earnings ratio of -6.12 and a beta of 2.68. The business has a 50-day moving average of $14.07.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Swiss National Bank raised its holdings in shares of Rocket Pharmaceuticals by 23.1% during the 2nd quarter. Swiss National Bank now owns 54,800 shares of the biotechnology company’s stock worth $822,000 after buying an additional 10,300 shares in the last quarter. Comerica Bank acquired a new position in shares of Rocket Pharmaceuticals during the 2nd quarter worth $263,000. TD Asset Management Inc. increased its holdings in Rocket Pharmaceuticals by 21.6% in the 2nd quarter. TD Asset Management Inc. now owns 29,143 shares of the biotechnology company’s stock worth $437,000 after purchasing an additional 5,180 shares in the last quarter. Quantitative Systematic Strategies LLC acquired a new position in Rocket Pharmaceuticals in the 2nd quarter worth about $267,000. Finally, Zeke Capital Advisors LLC acquired a new position in Rocket Pharmaceuticals in the 2nd quarter worth about $153,000. Institutional investors and hedge funds own 85.19% of the company’s stock.
Rocket Pharmaceuticals Company Profile
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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