Rocket Pharmaceuticals (NASDAQ:RCKT) Sets New 12-Month Low – Should You Sell?

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)’s stock price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $4.60 and last traded at $4.69, with a volume of 262645 shares trading hands. The stock had previously closed at $5.12.

Analyst Ratings Changes

Several research analysts have commented on RCKT shares. BMO Capital Markets assumed coverage on shares of Rocket Pharmaceuticals in a research report on Wednesday, March 12th. They set an “outperform” rating and a $50.00 price objective for the company. Wedbush assumed coverage on Rocket Pharmaceuticals in a report on Monday, December 30th. They set an “outperform” rating and a $32.00 price target for the company. Chardan Capital decreased their target price on Rocket Pharmaceuticals from $62.00 to $54.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. The Goldman Sachs Group dropped their target price on shares of Rocket Pharmaceuticals from $29.00 to $15.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. Finally, Needham & Company LLC decreased their price target on shares of Rocket Pharmaceuticals from $52.00 to $42.00 and set a “buy” rating on the stock in a report on Friday, February 28th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $43.00.

Rocket Pharmaceuticals Stock Down 4.3 %

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 stock’s fifty day simple moving average is $9.16 and its two-hundred day simple moving average is $12.70. The stock has a market capitalization of $522.27 million, a P/E ratio of -1.79 and a beta of 1.00.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its quarterly earnings data on Monday, March 3rd. The biotechnology company reported ($0.62) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.06. As a group, research analysts expect that Rocket Pharmaceuticals, Inc. will post -2.83 EPS for the current fiscal year.

Hedge Funds Weigh In On Rocket Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in RCKT. Covestor Ltd raised its holdings in Rocket Pharmaceuticals by 33,166.7% during the 4th quarter. Covestor Ltd now owns 1,996 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 1,990 shares during the last quarter. Signaturefd LLC increased its position in shares of Rocket Pharmaceuticals by 319.8% during the fourth quarter. Signaturefd LLC now owns 4,916 shares of the biotechnology company’s stock worth $62,000 after buying an additional 3,745 shares during the period. Harbour Investments Inc. raised its stake in Rocket Pharmaceuticals by 51.9% during the fourth quarter. Harbour Investments Inc. now owns 5,385 shares of the biotechnology company’s stock worth $68,000 after buying an additional 1,840 shares during the last quarter. KBC Group NV lifted its holdings in Rocket Pharmaceuticals by 159.6% in the fourth quarter. KBC Group NV now owns 5,475 shares of the biotechnology company’s stock valued at $69,000 after buying an additional 3,366 shares during the period. Finally, Virtus ETF Advisers LLC boosted its position in Rocket Pharmaceuticals by 40.4% during the fourth quarter. Virtus ETF Advisers LLC now owns 5,656 shares of the biotechnology company’s stock valued at $71,000 after acquiring an additional 1,628 shares during the last quarter. 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.