Rocket Pharmaceuticals (NASDAQ:RCKT) Sets New 52-Week Low – Should You Sell?

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) hit a new 52-week low on Thursday . The company traded as low as $10.07 and last traded at $10.48, with a volume of 1500415 shares changing hands. The stock had previously closed at $10.16.

Analyst Ratings Changes

RCKT has been the topic of a number of recent research reports. Needham & Company LLC reissued a “buy” rating and set a $52.00 price target on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. Chardan Capital reissued a “buy” rating and set a $62.00 target price on shares of Rocket Pharmaceuticals in a research report on Monday, November 18th. Wedbush assumed coverage on shares of Rocket Pharmaceuticals in a report on Monday, December 30th. They issued an “outperform” rating and a $32.00 price target for the company. Scotiabank initiated coverage on shares of Rocket Pharmaceuticals in a report on Wednesday, October 16th. They set a “sector outperform” rating and a $50.00 price objective on the stock. Finally, Leerink Partners lowered their target price on Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating for the company in a report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $47.27.

Rocket Pharmaceuticals Price Performance

The stock has a 50 day moving average of $12.46 and a 200-day moving average of $16.92. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.05 and a current ratio of 6.05. The company has a market cap of $955.36 million, a PE ratio of -3.81 and a beta of 1.01.

Rocket Pharmaceuticals (NASDAQ:RCKT) last released its earnings results on Thursday, November 7th. The biotechnology company reported ($0.71) EPS for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.07. Equities analysts predict that Rocket Pharmaceuticals, Inc. will post -2.83 earnings per share for the current year.

Insider Transactions at Rocket Pharmaceuticals

In other news, CEO Gaurav Shah sold 11,091 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $13.05, for a total value of $144,737.55. Following the completion of 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold 13,490 shares of company stock worth $176,045 over the last 90 days. 28.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Renaissance Technologies LLC purchased a new position in shares of Rocket Pharmaceuticals during the 2nd quarter valued at approximately $2,144,000. Marshall Wace LLP purchased a new position in Rocket Pharmaceuticals in the second quarter valued at $422,000. Maverick Capital Ltd. raised its position in shares of Rocket Pharmaceuticals by 1.0% in the second quarter. Maverick Capital Ltd. now owns 3,928,312 shares of the biotechnology company’s stock worth $84,577,000 after acquiring an additional 40,000 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Rocket Pharmaceuticals by 23.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 139,613 shares of the biotechnology company’s stock worth $3,006,000 after acquiring an additional 26,556 shares in the last quarter. Finally, Novo Holdings A S grew its position in shares of Rocket Pharmaceuticals by 4.8% during the 2nd quarter. Novo Holdings A S now owns 1,100,000 shares of the biotechnology company’s stock valued at $23,683,000 after acquiring an additional 50,000 shares during the period. 98.39% of the stock is owned by institutional investors and hedge funds.

Rocket Pharmaceuticals Company Profile

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.