The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Rocket Pharmaceuticals Inc shares valued at $308,763 were sold by White Mark Andrew on Apr 08 ’24. At $24.64 per share, White Mark Andrew sold 12,532 shares. The insider’s holdings dropped to 75,226 shares worth approximately $1.9 million following the completion of this transaction.
Also, Makker Gotham sold 274,000 shares, netting a total of over 7,790,943 in proceeds. Following the sale of shares at $28.43 each, the insider now holds 365,912 shares.
Before that, Militello John had sold 2,490 shares from its account. In a trade valued at $69,979, the insider traded Rocket Pharmaceuticals Inc shares for $28.10 each. Upon closing the transaction, the insider’s holdings decreased to 2,490 shares, worth approximately $1.4 million.
As published in their initiating research note from Goldman on April 02, 2024, Rocket Pharmaceuticals Inc [RCKT] has been a Neutral and the price target has been revised to $39. Analysts at Cantor Fitzgerald started covering the stock with ‘”an Overweight”‘ outlook in a report released in late October. As of February 01, 2023, Morgan Stanley has initiated its “an Overweight” rating for RCKT. Earlier on November 08, 2022, Canaccord Genuity initiated its rating. Their recommendation was “a Buy” for RCKT stock.
Analyzing RCKT Stock Performance
During the last five days, there has been a surge of approximately 1.20%. Over the course of the year, Rocket Pharmaceuticals Inc shares have dropped approximately -15.65%. Shares of the company reached a 52-week high of $31.47 on 02/27/24 and a 52-week low of $24.13 on 04/10/24. A 50-day SMA is recorded $27.85, while a 200-day SMA reached $22.88. Nevertheless, trading volume fell to 0.53 million shares from 0.67 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 24.59, which, if violated, would cause prices to drop to 23.90. In the upper region, resistance lies at 25.76. The next price resistance is at 26.24. RSI (Relative Strength Index) is 42.20 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.85, which suggests the price will decrease in the coming days. Percent R is at 70.13%, indicating bearish price movement. Stochastics %K at holding 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 Mar 15, 2024 jumping by 1.04 million shares to 10.24 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 9.2 million shares. A jump of 10.16% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 12.05 of the overall float, the days-to-cover ratio (short ratio) jumped to 12.05.
