Rocket Pharmaceuticals (NASDAQ:RCKT) Hits New 12-Month Low – Time to Sell?

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)’s stock price reached a new 52-week low on Tuesday . The stock traded as low as $9.27 and last traded at $9.27, with a volume of 1017927 shares changing hands. The stock had previously closed at $10.05.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on RCKT. Jefferies Financial Group assumed coverage on Rocket Pharmaceuticals in a report on Wednesday, December 18th. They set a “buy” rating and a $29.00 target price on the stock. Chardan Capital reissued a “buy” rating and issued a $62.00 price target on shares of Rocket Pharmaceuticals in a report on Monday, November 18th. Wedbush initiated coverage on Rocket Pharmaceuticals in a research note on Monday, December 30th. They set an “outperform” rating and a $32.00 target price on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $65.00 price objective on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th. Finally, Leerink Partners decreased their price target on shares of Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Rocket Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $47.27.

Rocket Pharmaceuticals Stock Down 8.1 %

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’s 50 day moving average price is $11.07 and its two-hundred day moving average price is $14.93. The company has a market cap of $842.20 million, a P/E ratio of -3.36 and a beta of 0.99.

Institutional Investors Weigh In On Rocket Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC increased its holdings in Rocket Pharmaceuticals by 796.2% during the 4th quarter. SG Americas Securities LLC now owns 54,921 shares of the biotechnology company’s stock worth $690,000 after purchasing an additional 48,793 shares in the last quarter. Jennison Associates LLC grew its holdings in Rocket Pharmaceuticals by 72.6% during the fourth quarter. Jennison Associates LLC now owns 70,304 shares of the biotechnology company’s stock worth $884,000 after buying an additional 29,564 shares in the last quarter. Mirador Capital Partners LP raised its position in Rocket Pharmaceuticals by 403.9% in the 4th quarter. Mirador Capital Partners LP now owns 84,529 shares of the biotechnology company’s stock valued at $1,063,000 after buying an additional 67,755 shares during the last quarter. First Turn Management LLC lifted its stake in Rocket Pharmaceuticals by 10.8% during the 3rd quarter. First Turn Management LLC now owns 621,306 shares of the biotechnology company’s stock valued at $11,476,000 after acquiring an additional 60,317 shares in the last quarter. Finally, Sovran Advisors LLC purchased a new position in Rocket Pharmaceuticals during the 4th quarter worth $1,895,000. 98.39% of the stock is owned by institutional investors.

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.