Rocket Pharmaceuticals (NASDAQ:RCKT) Upgraded to Sell by StockNews.com

StockNews.com upgraded shares of Rocket Pharmaceuticals (NASDAQ:RCKTFree Report) to a sell rating in a report released on Friday morning.

Other equities research analysts also recently issued research reports about the stock. Cantor Fitzgerald restated an overweight rating and issued a $65.00 target price on shares of Rocket Pharmaceuticals in a research note on Wednesday, January 31st. Lifesci Capital restated an outperform rating on shares of Rocket Pharmaceuticals in a research report on Tuesday, December 26th. Finally, Needham & Company LLC reaffirmed a buy rating and set a $53.00 price objective on shares of Rocket Pharmaceuticals in a report on Tuesday, November 7th. One investment analyst has rated the stock with a sell rating and seven have given a buy rating to the stock. According to data from MarketBeat, Rocket Pharmaceuticals presently has an average rating of Moderate Buy and an average price target of $54.80.

View Our Latest Stock Analysis on Rocket Pharmaceuticals

Rocket Pharmaceuticals Price Performance

Shares of RCKT stock opened at $29.50 on Friday. The stock’s fifty day simple moving average is $28.32 and its 200 day simple moving average is $22.03. Rocket Pharmaceuticals has a one year low of $14.89 and a one year high of $32.53. The firm has a market cap of $2.66 billion, a price-to-earnings ratio of -9.16 and a beta of 1.11. The company has a debt-to-equity ratio of 0.04, a current ratio of 13.35 and a quick ratio of 13.35.

Insiders Place Their Bets

In other news, Director Gotham Makker sold 20,000 shares of the stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $22.53, for a total transaction of $450,600.00. Following the sale, the director now directly owns 1,296,497 shares of the company’s stock, valued at $29,210,077.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 31.10% of the company’s stock.

Hedge Funds Weigh In On Rocket Pharmaceuticals

Several large investors have recently made changes to their positions in RCKT. JPMorgan Chase & Co. lifted its position in Rocket Pharmaceuticals by 22.6% during the 1st quarter. JPMorgan Chase & Co. now owns 837,915 shares of the biotechnology company’s stock valued at $13,289,000 after purchasing an additional 154,739 shares during the period. HighTower Advisors LLC lifted its holdings in Rocket Pharmaceuticals by 30.3% in the first quarter. HighTower Advisors LLC now owns 21,000 shares of the biotechnology company’s stock valued at $336,000 after buying an additional 4,879 shares during the period. MetLife Investment Management LLC boosted its stake in Rocket Pharmaceuticals by 56.6% in the first quarter. MetLife Investment Management LLC now owns 22,975 shares of the biotechnology company’s stock valued at $364,000 after acquiring an additional 8,301 shares during the last quarter. Rhumbline Advisers grew its holdings in Rocket Pharmaceuticals by 3.7% during the 1st quarter. Rhumbline Advisers now owns 44,652 shares of the biotechnology company’s stock worth $708,000 after acquiring an additional 1,575 shares during the period. Finally, Synovus Financial Corp raised its position in shares of Rocket Pharmaceuticals by 29.4% during the 1st quarter. Synovus Financial Corp now owns 82,236 shares of the biotechnology company’s stock valued at $1,306,000 after acquiring an additional 18,663 shares during the last quarter. Institutional investors and hedge funds own 94.49% of the company’s stock.

About Rocket Pharmaceuticals

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Rocket Pharmaceuticals, Inc, together with its subsidiaries, operates as a multi-platform 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.

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Analyst Recommendations for Rocket Pharmaceuticals (NASDAQ:RCKT)

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