As volatility creeps into Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT), investors need to pay close attention to to the factors affecting stock today as its shares are trading 4.53% or 0.77 points down from last closing price of $17, reaching $16.23 at last check. The RCKT share price has dropped in 2 of the last 5 days and is up 12.58% over the past week. It will be exciting to see whether the stock manages to continue decreasing or take a minor break for the next few days. The move came on weak volume too with far less shares changing hands than in a normal session. Trading activity as of this writing weakened by -179,457 shares, and in total 145943 shares valued at $2.369 million were seen changing hands compared with 325400 shares valued at $5.532 million recorded at the previous session. You should take into consideration that a falling volume on lower prices shows the bearish trend but this is an early indication which means that the RCKT stock is near its bottom.
Rocket Pharmaceuticals, Inc. (RCKT) shares have notched a 3-month gain of about 12.58%, but has still advanced 14.71% year to date. By comparison, the stock sank -20.75% over the past 12 months, while it slipped -1.73% over the 1 month. The company’s market cap is around $806.48M, with its short interest ratio standing at 17.79%.
In the current trading session for RCKT, the stock witnessed two major price actions, it rose to a high of $17 and was down as much as $15.73 at one point. The high recorded is very low when compared to their 52-week high which is $10.75. The 52-week high is now at -36.67 distance from current price. Their recent low of $25.96 represents a 52.93% recovery. This data is quite important for investors who look to benefit from the recent rise of the company’s stock. The price target currently for RCKT is $30.17, this is above the recent high that the stock attained. Taking a look at the overall sentimental views of financial analysts, the trading pattern of this stock recently is very clear.
The company recorded an interesting insider purchase transaction by the Director on Apr 16, 2019. A Securities and Exchanges Commission filings show that Rtw Investments, Lp bought a total of 550,005 RCKT shares that day for a sum of around $9,625,088. Rocket Pharmaceuticals, Inc. (RCKT) insiders have acquired 550,005 shares in the stock within the past three months. In total, individual insiders traded 550,005 shares in the business, which makes up 30.633% of 1,795,459 shares that were traded over a year. In the past 12 months, insiders have purchased 1,623,422 shares while the seller parted with 172,037 shares.
RCKT‘s last price was down -6.09% as compared to the average trading price of 50 days recorded at $17.28 while enlarging the period to 200 trading days, the average closing price was $17.49. At present, there are 47.44 million in the total number of common shares owned by the public and among those 47.44 million shares have been available to trade. The percentage of shares being held by the company management was 1.8% while institutions stake was 86.7%. The company has generated negative returns on equity over the last 12 months (-46.8%). It managed to keep its gross profit margin at 0% over the past 12 months.
When assessing the full upside of the RCKT stock, there is another set of technicals that should be looked into and considered. Its -0.8% decline from moving average of $16.36 has brought about a negative sentiment when calculated over the last 20 days. The market has allocated a beta of 2.93 to the stock. With the beta been greater than one, this implies that the company shares are theoretically more volatile than the market, something that the traders definitely are keeping an eye on.
Most of the analysts surveyed by Thomson/First Call think quite highly of Rocket Pharmaceuticals, Inc. — 8 analysts rate the stock as a buy with another 0 rating it strong buy. There are 0 analysts who maintain a hold rating for the stock, with 0 giving it a sell rating. Analysts arrived at a 12-month price target of $31.4 on shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT), which corresponds to 91.81% upside potential than its current market price of $16.23 and implies potential despite the recent drop in the price. However, their current target price has fallen from $31.4 a month ago and is down handily from the consensus target of $31.4 a quarter ago.
In the last five years, the EPS of the company has been roughly 6%. Though the percentage looks disappointing, extra tailwinds are emerging as looking out over a next 5-year period, with analysts estimating that their earnings will increase annually by 10.8%. The revenue of the company has retreated at an average annualized rate of about 0 over the last five years. The company recently recorded a drop of 0%, but this figure is rather unattractive.
Let’s briefly check the hedge fund interest towards RCKT stock. Marshall Wace North America L.P. added position in the company after it grew 50% or 116,815 shares of its common stock. The hedge fund now owns 175,223 shares worth $2,843,869, SEC documents show. Marshall Wace LLP shored up assets in the stock as 97328 shares have been purchased, increasing its stake by 50% to 145,992 shares which are currently valued at $2,369,450. In addition, Perceptive Advisors LLC recently reported that it now owns 458,173 shares making a total of $7,436,148 based on the recent price. This refelects a change of 32.2% in their ownership.