Rocket Pharmaceuticals Inc. (RCKT) Volatility At 7.37%, Should You Add A Position?

Rocket Pharmaceuticals Inc. (NASDAQ: RCKT) is 0.79% higher on its value in year-to-date trading and has touched a low of $9.01 and a high of $27.59 in the current 52-week trading range. The RCKT stock was last observed hovering at around $22.94 in the recent trading session, with the current gains setting it 1.31% off its average median price target of $34.50 for the next 12 months. It is also 47.28% off the consensus price target high of $46.00 offered by analysts, but current levels are 21.77% higher than the price target low of $31.00 for the same period.

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At last check, trading at $24.25, the stock is 16.48% and 26.11% above its SMA20 and SMA50 respectively. However, with a current trading volume of 0.47 million and changing 5.71% at the moment leaves the stock 34.12% off its SMA200. RCKT registered 70.56% gain for a year compared to 6-month loss of 0.66%. The firm has a 50-day simple moving average (SMA 50) of $20.10 and a 200-day simple moving average (SMA200) of $19.23.

The stock witnessed a 21.18% gain in the last 1 month and extending the period to 3 months gives it a 55.95%, and is 9.60% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 7.37% over the week and 7.22% over the month.

Distance from 52-week low is 169.15% and -12.11% from its 52-week high.

Rocket Pharmaceuticals Inc. (RCKT) Analyst Forecasts

Rocket Pharmaceuticals Inc. is expected to release its quarterly report on 08/05/2020 and quarterly earnings per share for the current quarter are estimated at -$0.51.The EPS is expected to grow by 16.70% this year.

Rocket Pharmaceuticals Inc. (RCKT) Top Institutional Holders

180 institutions hold shares in Rocket Pharmaceuticals Inc. (RCKT), with 2.78M shares held by insiders accounting for 5.04% while institutional investors hold 100.56% of the company’s shares. The shares outstanding are 54.88M, and float is at 50.18M with Short Float at 16.52%. Institutions hold 95.49% of the Float.

The top institutional shareholder in the company is RTW Investments LP with over 16.81 million shares valued at $234.53 million. The investor’s holdings represent 30.48% of the RCKT Shares outstanding. As of Mar 30, 2020, the second largest holder is Tang Capital Management, LLC with 2.97 million shares valued at $41.37 million to account for 5.38% of the shares outstanding. The other top investors are Blackrock Inc. which holds 2.71 million shares representing 4.91% and valued at over $37.75 million, while Perceptive Advisors Llc holds 3.97% of the shares totaling 2.19 million with a market value of $30.54 million.

Rocket Pharmaceuticals Inc. (RCKT) Insider Activity

A total of 5 insider transactions have happened at Rocket Pharmaceuticals Inc. (RCKT) in the last six months, with sales accounting for 2 and purchases happening 3 times. The most recent transaction is an insider purchase by Patel Kinnari, the company’s Chief Operating Officer. SEC filings show that Patel Kinnari bought 1,000 shares of the company’s common stock on Mar 18 at a price of $9.50 per share for a total of $9500.0. Following the purchase, the insider now owns 6675.0 shares.

Rocket Pharmaceuticals Inc. disclosed in a document filed with the SEC on Dec 10 that RTW INVESTMENTS, LP (Director) bought a total of 225,000 shares of the company’s common stock. The trade occurred on Dec 10 and was made at $22.25 per share for $5.01 million. Following the transaction, the insider now directly holds 17.28 million shares of the RCKT stock.

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