Rocket Pharmaceuticals (NASDAQ:RCKT) Shares Down 6.1% – Should You Sell?

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)’s share price fell 6.1% during mid-day trading on Tuesday . The stock traded as low as $8.23 and last traded at $8.19. 608,508 shares traded hands during trading, a decline of 39% from the average session volume of 1,003,401 shares. The stock had previously closed at $8.73.

Analysts Set New Price Targets

RCKT has been the topic of a number of recent research reports. The Goldman Sachs Group dropped their price objective on shares of Rocket Pharmaceuticals from $29.00 to $15.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. Canaccord Genuity Group decreased their target price on shares of Rocket Pharmaceuticals from $39.00 to $36.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Jefferies Financial Group began coverage on shares of Rocket Pharmaceuticals in a research note on Wednesday, December 18th. They issued a “buy” rating and a $29.00 target price for the company. Chardan Capital reduced their price target 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. Finally, Wedbush started coverage on Rocket Pharmaceuticals in a research report on Monday, December 30th. They issued an “outperform” rating and a $32.00 price objective for the company. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $43.00.

Rocket Pharmaceuticals Trading Down 6.4 %

The company has a 50 day simple moving average of $9.83 and a two-hundred day simple moving average of $13.52. 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 firm has a market cap of $871.17 million, a PE ratio of -2.97 and a beta of 1.03.

Rocket Pharmaceuticals (NASDAQ:RCKT) last issued its quarterly earnings results on Monday, March 3rd. The biotechnology company reported ($0.62) earnings per share for the quarter, topping the consensus estimate of ($0.68) by $0.06. Analysts expect that Rocket Pharmaceuticals, Inc. will post -2.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RCKT. Covestor Ltd lifted its holdings in shares of Rocket Pharmaceuticals by 33,166.7% in the 4th quarter. Covestor Ltd now owns 1,996 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 1,990 shares during the period. Signaturefd LLC raised its position in Rocket Pharmaceuticals by 319.8% during the fourth quarter. Signaturefd LLC now owns 4,916 shares of the biotechnology company’s stock valued at $62,000 after acquiring an additional 3,745 shares in the last quarter. Harbour Investments Inc. lifted its holdings in Rocket Pharmaceuticals by 51.9% in the fourth quarter. Harbour Investments Inc. now owns 5,385 shares of the biotechnology company’s stock valued at $68,000 after acquiring an additional 1,840 shares during the period. KBC Group NV boosted its position in Rocket Pharmaceuticals by 159.6% in the 4th quarter. KBC Group NV now owns 5,475 shares of the biotechnology company’s stock worth $69,000 after purchasing an additional 3,366 shares in the last quarter. Finally, Virtus ETF Advisers LLC grew its stake in shares of Rocket Pharmaceuticals by 40.4% during the 4th quarter. Virtus ETF Advisers LLC now owns 5,656 shares of the biotechnology company’s stock worth $71,000 after purchasing an additional 1,628 shares during the period. 98.39% of the stock is currently 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.