Rocket Pharmaceuticals Inc. (NASDAQ:RCKT) marked $17.41 per share on Tuesday, down from a previous closing price of $17.88. While Rocket Pharmaceuticals Inc. has underperformed by -2.63%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, RCKT rose by 6.29%, with highs and lows ranging from $23.48 to $7.57, whereas the simple moving average fell by -0.98% in the last 200 days.
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On February 01, 2023, Morgan Stanley started tracking Rocket Pharmaceuticals Inc. (NASDAQ: RCKT) recommending Overweight. A report published by Canaccord Genuity on November 08, 2022, Initiated its previous ‘Buy’ rating for RCKT. BTIG Research also rated RCKT shares as ‘Buy’, setting a target price of $35 on the company’s shares in an initiating report dated November 01, 2022. Raymond James Initiated an Outperform rating on July 08, 2022, and assigned a price target of $22. Cowen initiated its ‘Outperform’ rating for RCKT, as published in its report on October 20, 2021. Stifel’s report from March 02, 2021 suggests a price prediction of $64 for RCKT shares, giving the stock a ‘Buy’ rating. Needham also rated the stock as ‘Buy’.
Analysis of Rocket Pharmaceuticals Inc. (RCKT)
In order to gain a clear picture of Rocket Pharmaceuticals Inc.’s future performance, a variety of well-rounded analysis and research techniques can be applied, with equity being the most critical. The goal here is to ensure that your current return on equity of -53.40% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 9.30, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
An average volume of 871.98K can be a very valuable indicator of volatility for RCKT stock. On a monthly basis, the volatility of the stock is set at 6.03%, whereas on a weekly basis, it is put at 5.83%, with a gain of 10.26% over the past seven days. Furthermore, long-term investors anticipate a median target price of $50.15, showing growth from the present price of $17.41, which can serve as yet another indication of whether RCKT is worth investing in or should be passed over.
How Do You Analyze Rocket Pharmaceuticals Inc. Shares?
In addition to the fundamentals, you should also consider how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 3.66%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 89.70% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in RCKT shares?
The recent increase in stakes in RCKT appears to be a result of several institutional investors and hedge funds increasing their positions. RTW Investments LP’s position in RCKT has increased by 8.48% in the first quarter. The company now owns 17,687,772 shares of the stock, with a value of $339.78 million, following the purchase of 1,382,035 additional shares during the last quarter. BlackRock Fund Advisors made another increased to its shares in RCKT during the first quarter, upping its stake by 29.44%. During the last quarter, the company picked up 969,675 additional shares for a total stake of worth $81.9 million, bringing number of shares owned by the company to 4,263,209.
During the first quarter, The Vanguard Group, Inc. added a 674,831 position in RCKT. SSgA Funds Management, Inc. purchased an additional 0.58 million shares in the last quarter, increasing its holdings by 17.22%, now holding 3.98 million shares worth $76.44 million. At the end of the first quarter, Wellington Management Co. LLP increased its RCKT holdings by 0.82% and now holds 3.51 million RCKT shares valued at $67.37 million with the added 28605.0 shares during the period. RCKT shares are owned by institutional investors to the tune of 89.70% at present.
