Shares of Rocket Pharmaceuticals Inc (NASDAQ:RCKT) traded down 8.1% during mid-day trading on Monday . The company traded as low as $16.92 and last traded at $16.99. 621,731 shares were traded during mid-day trading, an increase of 112% from the average session volume of 292,957 shares. The stock had previously closed at $18.48.

A number of analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Rocket Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, February 21st. ValuEngine downgraded shares of Rocket Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday. Oppenheimer set a $39.00 price objective on shares of Rocket Pharmaceuticals and gave the company a “buy” rating in a report on Tuesday, March 5th. CIBC assumed coverage on shares of Rocket Pharmaceuticals in a report on Tuesday, February 5th. They issued an “outperform” rating and a $39.00 price objective for the company. Finally, Cowen reissued a “buy” rating on shares of Rocket Pharmaceuticals in a report on Wednesday, May 8th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Rocket Pharmaceuticals presently has a consensus rating of “Buy” and a consensus price target of $29.67.

The stock has a market cap of $865.98 million, a P/E ratio of -9.11 and a beta of 3.06. The company has a debt-to-equity ratio of 0.25, a quick ratio of 9.70 and a current ratio of 9.70.

Rocket Pharmaceuticals (NASDAQ:RCKT) last issued its earnings results on Wednesday, May 8th. The biotechnology company reported ($0.43) EPS for the quarter, beating the consensus estimate of ($0.63) by $0.20. On average, equities research analysts forecast that Rocket Pharmaceuticals Inc will post -2.38 EPS for the current year.

In other Rocket Pharmaceuticals news, insider Gaurav Shah sold 74,900 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $17.17, for a total value of $1,286,033.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rtw Investments, Lp purchased 550,005 shares of the firm’s stock in a transaction on Tuesday, April 16th. The stock was acquired at an average price of $17.50 per share, with a total value of $9,625,087.50. The disclosure for this purchase can be found here. Corporate insiders own 47.67% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. RTW Investments LP increased its position in Rocket Pharmaceuticals by 7.1% in the 4th quarter. RTW Investments LP now owns 16,037,486 shares of the biotechnology company’s stock valued at $235,848,000 after acquiring an additional 1,067,742 shares during the period. BlackRock Inc. increased its position in Rocket Pharmaceuticals by 9.2% in the 1st quarter. BlackRock Inc. now owns 2,116,343 shares of the biotechnology company’s stock valued at $37,121,000 after acquiring an additional 177,783 shares during the period. FMR LLC increased its position in Rocket Pharmaceuticals by 36.6% in the 4th quarter. FMR LLC now owns 1,465,099 shares of the biotechnology company’s stock valued at $21,713,000 after acquiring an additional 392,900 shares during the period. Vanguard Group Inc increased its position in Rocket Pharmaceuticals by 13.2% in the 3rd quarter. Vanguard Group Inc now owns 961,464 shares of the biotechnology company’s stock valued at $23,671,000 after acquiring an additional 112,180 shares during the period. Finally, Vanguard Group Inc. increased its position in Rocket Pharmaceuticals by 13.2% in the 3rd quarter. Vanguard Group Inc. now owns 961,464 shares of the biotechnology company’s stock valued at $23,671,000 after acquiring an additional 112,180 shares during the period. Hedge funds and other institutional investors own 83.71% of the company’s stock.

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About Rocket Pharmaceuticals (NASDAQ:RCKT)

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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