Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Short Interest Update

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) saw a significant increase in short interest during the month of August. As of August 31st, there was short interest totaling 15,490,000 shares, an increase of 32.1% from the August 15th total of 11,730,000 shares. Based on an average daily trading volume, of 4,160,000 shares, the short-interest ratio is currently 3.7 days. Approximately 19.1% of the shares of the stock are short sold. Approximately 19.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 4,160,000 shares, the short-interest ratio is currently 3.7 days.

Rocket Pharmaceuticals Stock Up 4.6%

Shares of NASDAQ:RCKT opened at $3.17 on Friday. Rocket Pharmaceuticals has a 52-week low of $2.19 and a 52-week high of $21.94. The stock has a market cap of $342.06 million, a P/E ratio of -1.26 and a beta of 0.62. The business’s 50 day moving average is $3.17 and its 200 day moving average is $4.75. The company has a quick ratio of 6.39, a current ratio of 6.39 and a debt-to-equity ratio of 0.05.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its quarterly earnings data on Thursday, August 7th. The biotechnology company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.02). During the same period in the prior year, the company earned ($0.74) earnings per share. Sell-side analysts predict that Rocket Pharmaceuticals will post -2.83 EPS for the current year.

Insider Activity at Rocket Pharmaceuticals

In related news, General Counsel Martin Wilson sold 12,109 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $3.02, for a total transaction of $36,569.18. Following the completion of the transaction, the general counsel directly owned 137,054 shares of the company’s stock, valued at approximately $413,903.08. This represents a 8.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Elisabeth Bjork purchased 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 27th. The shares were purchased at an average cost of $3.41 per share, with a total value of $34,100.00. Following the completion of the purchase, the director owned 40,000 shares of the company’s stock, valued at $136,400. The trade was a 33.33% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders sold 36,927 shares of company stock valued at $111,413. Insiders own 24.76% of the company’s stock.

Institutional Trading of Rocket Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of RCKT. Maverick Capital Ltd. boosted its position in shares of Rocket Pharmaceuticals by 60.9% in the 2nd quarter. Maverick Capital Ltd. now owns 8,363,813 shares of the biotechnology company’s stock worth $20,491,000 after purchasing an additional 3,164,595 shares in the last quarter. MPM Bioimpact LLC boosted its position in shares of Rocket Pharmaceuticals by 141.2% in the 2nd quarter. MPM Bioimpact LLC now owns 3,903,081 shares of the biotechnology company’s stock worth $9,563,000 after purchasing an additional 2,284,816 shares in the last quarter. Qube Research & Technologies Ltd boosted its position in shares of Rocket Pharmaceuticals by 690.8% in the 2nd quarter. Qube Research & Technologies Ltd now owns 1,548,262 shares of the biotechnology company’s stock worth $3,793,000 after purchasing an additional 1,352,469 shares in the last quarter. Toronto Dominion Bank acquired a new stake in shares of Rocket Pharmaceuticals in the 4th quarter worth $13,827,000. Finally, Baker BROS. Advisors LP boosted its position in shares of Rocket Pharmaceuticals by 1,030.1% in the 1st quarter. Baker BROS. Advisors LP now owns 1,097,079 shares of the biotechnology company’s stock worth $7,318,000 after purchasing an additional 1,000,000 shares in the last quarter. Institutional investors own 98.39% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on RCKT. Bank of America raised Rocket Pharmaceuticals from a “neutral” rating to a “buy” rating and raised their price objective for the company from $4.00 to $10.00 in a research note on Wednesday, August 20th. Cantor Fitzgerald lowered their price objective on Rocket Pharmaceuticals from $10.00 to $8.00 and set an “overweight” rating for the company in a research note on Friday, August 8th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $7.00 price objective on shares of Rocket Pharmaceuticals in a research note on Wednesday, May 28th. Evercore ISI lowered Rocket Pharmaceuticals from an “outperform” rating to an “in-line” rating and set a $5.00 price objective for the company. in a research note on Friday, May 30th. Finally, BMO Capital Markets lowered their price objective on Rocket Pharmaceuticals from $30.00 to $8.00 and set an “outperform” rating for the company in a research note on Wednesday, May 28th. Eight equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Rocket Pharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $16.73.

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.