Rocket Pharmaceuticals (NASDAQ:RCKT) Trading Down 15.6% – Should You Sell?

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) shares fell 15.6% during trading on Monday . The stock traded as low as $6.36 and last traded at $6.40. 507,961 shares traded hands during trading, a decline of 51% from the average session volume of 1,043,319 shares. The stock had previously closed at $7.59.

Analysts Set New Price Targets

RCKT has been the subject of several recent research reports. Jefferies Financial Group initiated coverage on shares of Rocket Pharmaceuticals in a research note on Wednesday, December 18th. They issued a “buy” rating and a $29.00 price objective for the company. The Goldman Sachs Group dropped their price objective on Rocket Pharmaceuticals from $29.00 to $15.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. Chardan Capital cut their price target on shares of Rocket Pharmaceuticals from $62.00 to $54.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Needham & Company LLC cut their target price on Rocket Pharmaceuticals from $52.00 to $42.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Finally, BMO Capital Markets assumed coverage on Rocket Pharmaceuticals in a research report on Wednesday, March 12th. They issued an “outperform” rating and a $50.00 target price for the company. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.00.

Rocket Pharmaceuticals Trading Down 13.3 %

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 company has a market capitalization of $701.95 million, a PE ratio of -2.39 and a beta of 1.03. The business has a fifty day moving average price of $9.62 and a 200 day moving average price of $13.20.

Rocket Pharmaceuticals (NASDAQ:RCKT) last released its quarterly earnings data on Monday, March 3rd. The biotechnology company reported ($0.62) earnings per share (EPS) 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

Several hedge funds have recently added to or reduced their stakes in RCKT. Covestor Ltd increased its stake 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 buying an additional 1,990 shares during the period. Signaturefd LLC grew its holdings 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 valued at $62,000 after purchasing an additional 3,745 shares during the last quarter. Harbour Investments Inc. increased its position in Rocket Pharmaceuticals by 51.9% in 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 period. KBC Group NV lifted 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 valued at $69,000 after purchasing an additional 3,366 shares during the last quarter. Finally, Virtus ETF Advisers LLC boosted its position in shares of Rocket Pharmaceuticals by 40.4% during the fourth quarter. Virtus ETF Advisers LLC now owns 5,656 shares of the biotechnology company’s stock worth $71,000 after buying an additional 1,628 shares during the period. 98.39% of the stock is owned by hedge funds and other institutional investors.

About Rocket Pharmaceuticals

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.