Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Rocket Pharmaceuticals Inc. shares valued at $738,652 were sold by Schwartz Jonathan David on Mar 30. At $16.41 per share, Schwartz Jonathan David sold 45,000 shares. The insider’s holdings dropped to 179,529 shares worth approximately $2.25 million following the completion of this transaction.
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Also, Shah Gaurav purchased 22,000 shares, netting a total of over 381,513 in proceeds. Following the buying of shares at $17.34 each, the insider now holds 517,639 shares.
As published in their initiating research note from Raymond James on July 08, 2022, Rocket Pharmaceuticals Inc. [RCKT] has been an Outperform and the price target has been revised to $22. This represents a 43.0% premium over Wednesday’s closing price. As of March 02, 2021, Stifel has initiated its “Buy” rating for RCKT. Earlier on February 18, 2021, Needham initiated its rating. Their recommendation was “a Buy” for RCKT stock.
Analyzing RCKT’s Price Performance
On Wednesday, Rocket Pharmaceuticals Inc. [NASDAQ: RCKT] plunged -8.40% to $12.54. The stock’s lowest price that day was $12.54, but it reached a high of $13.7071 in the same session. During the last five days, there has been a drop of approximately -15.44%. Over the course of the year, Rocket Pharmaceuticals Inc. shares have dropped approximately -42.56%. Shares of the company reached a 52-week high of $24.18 on 01/04/22 and a 52-week low of $7.57 on 05/12/22. A 50-day SMA is recorded $15.86, while a 200-day SMA reached $15.76. Nevertheless, trading volume fell to 1.18 million shares from 1.18 million shares the previous day.
Support And Resistance Levels for Rocket Pharmaceuticals Inc. (RCKT)
According to the 24-hour chart, there is a support level at 12.15, which, if violated, would cause prices to drop to 11.76. In the upper region, resistance lies at 13.32. The next price resistance is at 14.10. RSI (Relative Strength Index) is 35.15 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.46, which suggests the price will decrease in the coming days. Percent R is at 100.00%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Rocket Pharmaceuticals Inc. subject to short interest?
Stocks of Rocket Pharmaceuticals Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.66 million shares to 8.58 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 7.92 million shares. A jump of 7.69% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 9.95 of the overall float, the days-to-cover ratio (short ratio) jumped to 9.95.
Which companies own the most shares of Rocket Pharmaceuticals Inc. (RCKT)?
According to RTW Investments LP filings, the company currently owns 15,802,802 shares, which is about 23.93% of the total RCKT shares outstanding. With the completion of the sale transaction, Wellington Management Co. LLP’s stake is now worth $52,488,448. Westfield Capital Management Co. acquire a 52.86% interest valued at $51.68 million while BlackRock Fund Advisors purchased a 351,396 stake. A total of 47,421 shares of Rocket Pharmaceuticals Inc. were bought by The Vanguard Group, Inc. during the quarter, and -217,390 were sold by SSgA Funds Management, Inc. In its current portfolio, Maverick Capital Ltd. holds 2,532,366 shares valued at $39.02 million.
In terms of Rocket Pharmaceuticals Inc. share price expectations, FactSet research, analysts set an average price target of $54.36 in the next 12 months, up nearly 352.89% from the previous closing price of $13.69. Analysts anticipate Rocket Pharmaceuticals Inc. stock to reach $68.00 by 2022, with the lowest price target being $24.00. In spite of this, 13 analysts ranked Rocket Pharmaceuticals Inc. stock as a Buy at the end of 2022. On December 16, 2020, UBS assigned a price target of “a Buy” to the stock and initiated coverage with a $75.