Investing in Rocket Pharmaceuticals Inc. [RCKT]: What You Must Know


Rocket Pharmaceuticals Inc.’s filing revealed that its Director RTW INVESTMENTS, LP acquired Company’s shares for reported $20.0 million on Oct 06. In the deal valued at $14.75 per share,1,355,932 shares were bought. As a result of this transaction, RTW INVESTMENTS, LP now holds 17,628,567 shares worth roughly $ 299.86 million.

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Then, Schwartz Jonathan David sold 45,000 shares, generating $738,652 in total proceeds. Upon selling the shares at $16.41, the insider now owns 179,529 shares.

Before that, Shah Gaurav bought 22,000 shares. Rocket Pharmaceuticals Inc. shares valued at $381,513 were divested by the CEO at a price of $17.34 per share. As a result of the transaction, Shah Gaurav now holds 517,639 shares, worth roughly $8.81 million.

BTIG Research initiated its Rocket Pharmaceuticals Inc. [RCKT] rating to a Buy in a research note published on Friday, November 01, 2022; the price target was $35. PT values the company’s stock at a premium of 51.4 to its Friday closing price. A number of analysts have revised their coverage, including Raymond James’s analysts, who began to cover the stock in early July with a ‘”an Outperform”‘ rating. Stifel started covering the stock on March 02, 2021. It rated RCKT as “a Buy”.

Price Performance Review of RCKT

On Friday, Rocket Pharmaceuticals Inc. [NASDAQ:RCKT] saw its stock fall -4.33% to $17.01. On the same session, the stock had its day’s lowest price of $14.86, but rose to a high of $17.8077. Over the last five days, the stock has lost -10.19%. Rocket Pharmaceuticals Inc. shares have fallen nearly -22.08% since the year began. Nevertheless, the stocks have fallen -52.78% over the past one year. While a 52-week high of $36.87 was reached on 01/04/22, a 52-week low of $7.57 was recorded on 05/12/22. SMA at 50 days reached $16.02, while 200 days put it at $14.93. A total of 1.11 million shares were traded, compared to the trading of 0.77 million shares in the previous session.

Levels Of Support And Resistance For RCKT Stock

The 24-hour chart illustrates a support level at 15.31, which if violated will result in even more drops to 13.61. On the upside, there is a resistance level at 18.26. A further resistance level may holdings at 19.51. The Relative Strength Index (RSI) on the 14-day chart is 49.08, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.15, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 57.34%. Stochastics %K at 50.42% indicates the stock is a holding.

How much short interest is there in Rocket Pharmaceuticals Inc.?

A steep rise in short interest was recorded in Rocket Pharmaceuticals Inc. stocks on Jul 14, 2022, growing by 0.66 million shares to a total of 8.58 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 7.92 million shares. There was a rise of 7.69%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 18.42% of the overall stock float, the days-to-cover ratio (short ratio) rose to 9.95.

Rocket Pharmaceuticals Inc. [RCKT] – Who Are The Largest Shareholders?

In filings from RTW Investments LP, it is revealed that the company now owns 17,628,567 shares, or roughly 26.69% of the outstanding RCKT shares. In other words, the investor’s shares have risen by 1,825,765 from its previous 13-F filing of 15802802.0. Additionally, Wellington Management Co. LLP decreased -1.92% of its stake after which the total value it holdings stand at $54,361,819, while Westfield Capital Management Co. added 52.86% of its stake to hold $53.52 million in the firm. Over the last quarter, BlackRock Fund Advisors purchased 351,396 shares of Rocket Pharmaceuticals Inc., while The Vanguard Group, Inc. bought 47,421 shares. At present, SSgA Funds Management, Inc. is holding 2,536,257 shares valued at $40.48 million. Maverick Capital Ltd. owned 2,532,366 shares of the company at the time of its most recent 13F filing, worth $40.42 million.

According to FactSet, Rocket Pharmaceuticals Inc.’s share price will average $53.33 in the next year, based on opinions of analysts polled by the firm. This is up nearly 214.96 percent from its previous closing price of $17.78. Analysts expect Rocket Pharmaceuticals Inc. stock to reach the higher price of $75.00, while the lowest price estimate is $33.00. However, 14 analysts have rated RCKT stock as a Buy in their predictions for 2022. The most recent change occurred on February 18, 2021 when Needham began covering the stock and recommended ‘”a Buy”‘ rating along with a $75 price target.


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