An Analysis Of Rocket Pharmaceuticals Inc. (RCKT) Stock

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Rocket Pharmaceuticals Inc. (NASDAQ:RCKT) has a beta value of 1.60 and has seen 1.08 million shares traded in the last trading session. The company, currently valued at $1.03B, closed the last trade at $13.97 per share which meant it lost -$0.02 on the day or -0.14% during that session. The RCKT stock price is -163.92% off its 52-week high price of $36.87 and 45.81% above the 52-week low of $7.57. If we look at the company’s 10-day average daily trading volume, we find that it stood at 1.4 million shares traded. The 3-month trading volume is 863.49K shares.

The consensus among analysts is that Rocket Pharmaceuticals Inc. (RCKT) is a Buy stock at the moment, with a recommendation rating of 1.70. 0 analysts rate the stock as a Sell, while 1 rate it as Overweight. 0 out of 13 have rated it as a Hold, with 12 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -$0.68.

Sporting -0.14% in the red in last session, the stock has traded in the red over the last five days, with the highest price hit on Monday, 09/19/22 when the RCKT stock price touched $13.97 or saw a rise of 10.79%. Year-to-date, Rocket Pharmaceuticals Inc. shares have moved -36.01%, while the 5-day performance has seen it change -13.07%. Over the past 30 days, the shares of Rocket Pharmaceuticals Inc. (NASDAQ:RCKT) have changed -19.43%. Short interest in the company has seen 8.58 million shares shorted with days to cover at 9.95.

Wall Street analysts have a consensus price target for the stock at $54.36, which means that the shares’ value could jump 74.3% from current levels. The projected low price target is $24.00 while the price target rests at a high of $68.00. In that case, then, we find that the current price level is -386.76% off the targeted high while a plunge would see the stock gain -71.8% from current levels.

Rocket Pharmaceuticals Inc. (RCKT) estimates and forecasts

Figures show that Rocket Pharmaceuticals Inc. shares have underperformed across the wider relevant industry. The company’s shares have lost -12.36% over the past 6 months, with this year growth rate of -9.74%, compared to 1.10% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2022 fiscal year revenue. Growth estimates for the current quarter are -23.60% and 10.10% for the next quarter.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -19.30% over the past 5 years.

RCKT Dividends

Rocket Pharmaceuticals Inc. is expected to release its next earnings report between February 23 and February 28 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

Rocket Pharmaceuticals Inc. (NASDAQ:RCKT)’s Major holders

Insiders own 4.40% of the company shares, while shares held by institutions stand at 100.67% with a share float percentage of 105.30%. Investors are also buoyed by the number of investors in a company, with Rocket Pharmaceuticals Inc. having a total of 235 institutions that hold shares in the company. The top two institutional holders are RTW Investments LP with over 15.8 million shares worth more than $250.63 million. As of Mar 30, 2022, RTW Investments LP held 24.00% of shares outstanding.

The other major institutional holder is Wellington Management Group, LLP, with the holding of over 3.47 million shares as of Mar 30, 2022. The firm’s total holdings are worth over $55.08 million and represent 5.27% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF and Vanguard Total Stock Market Index Fund. As of Jun 29, 2022, the former fund manager holds about 2.46% shares in the company for having 1.62 million shares of worth $22.29 million while later fund manager owns 1.34 million shares of worth $21.31 million as of Mar 30, 2022, which makes it owner of about 2.04% of company’s outstanding stock.