Rocket Pharmaceuticals (NASDAQ:RCKT) Stock Rating Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Rocket Pharmaceuticals (NASDAQ:RCKT) from a hold rating to a sell rating in a research note issued to investors on Saturday,Wall Street Zen reports.

A number of other equities research analysts also recently issued reports on RCKT. Jefferies Financial Group restated a “hold” rating and set a $2.95 price target on shares of Rocket Pharmaceuticals in a research note on Wednesday, October 7th. Wedbush reiterated an “outperform” rating on shares of Rocket Pharmaceuticals in a research report on Wednesday, October 7th. Needham & Company LLC upgraded shares of Rocket Pharmaceuticals from a “hold” rating to a “buy” rating and set a $9.00 price target on the stock in a research note on Wednesday, September 16th. Chardan Capital reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Rocket Pharmaceuticals in a research note on Wednesday, October 7th. Finally, Leerink Partners decreased their target price on shares of Rocket Pharmaceuticals from $7.00 to $4.00 and set a “market perform” rating on the stock in a research note on Wednesday, October 7th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $7.77.

Rocket Pharmaceuticals Stock Performance

RCKT traded down $0.09 during midday trading on Friday, hitting $2.30. 1,783,515 shares of the company traded hands, compared to its average volume of 1,656,121. The company’s 50-day moving average is $2.71 and its 200 day moving average is $3.39. Rocket Pharmaceuticals has a 52 week low of $2.16 and a 52 week high of $5.45. The firm has a market capitalization of $252.48 million, a PE ratio of -15.33 and a beta of 0.51. The company has a quick ratio of 9.24, a current ratio of 9.24 and a debt-to-equity ratio of 0.05.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its earnings results on Thursday, November 12th. The biotechnology company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.03). On average, research analysts expect that Rocket Pharmaceuticals will post -1.36 EPS for the current year.

Insider Transactions at Rocket Pharmaceuticals

In other Rocket Pharmaceuticals news, General Counsel Martin Wilson sold 75,364 shares of the business’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $3.40, for a total value of $256,237.60. Following the sale, the general counsel owned 598,489 shares in the company, valued at $2,034,862.60. The trade was a 11.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 83,160 shares of company stock valued at $277,472. Insiders own 21.30% of the company’s stock.

Institutional Investors Weigh In On Rocket Pharmaceuticals

Several large investors have recently made changes to their positions in the company. Maverick Capital Ltd. grew its holdings in shares of Rocket Pharmaceuticals by 42.0% in the first quarter. Maverick Capital Ltd. now owns 3,567,372 shares of the biotechnology company’s stock valued at $12,771,000 after purchasing an additional 1,054,262 shares in the last quarter. Monaco Asset Management SAM purchased a new stake in Rocket Pharmaceuticals during the second quarter valued at $8,483,000. Bank of America Corp DE bought a new position in Rocket Pharmaceuticals during the second quarter valued at $2,512,000. BlackRock Inc. bought a new position in Rocket Pharmaceuticals during the second quarter valued at $33,940,000. Finally, Ieq Capital LLC purchased a new position in shares of Rocket Pharmaceuticals in the 2nd quarter worth $1,506,000. 98.39% of the stock is owned by institutional investors.

Rocket Pharmaceuticals Company Profile

Rocket Pharmaceuticals, Inc. is a biotechnology company developing gene therapies for rare, serious diseases, with a focus on inherited disorders that often affect children. Its research programs use lentiviral and adeno-associated viral (AAV) vector technologies to deliver therapeutic genes to patients’ cells. The company’s pipeline has included programs targeting conditions such as Fanconi anemia, leukocyte adhesion deficiency-I, pyruvate kinase deficiency, Danon disease and arrhythmogenic cardiomyopathy.