Goldman has recently initiated Rocket Pharmaceuticals Inc (RCKT) stock to Neutral rating, as announced on April 2, 2024, according to Finviz. Earlier, on October 24, 2023, Cantor Fitzgerald had initiated the stock to Overweight, setting a price target of $65. Morgan Stanley also initiated Overweight rating with a price target of $45. Additionally, Canaccord Genuity initiated Buy rating on November 8, 2022, with a target price of $53. BTIG Research analysts, in their report published on November 1, 2022, also initiated Buy rating and set a price target of $35 for Rocket Pharmaceuticals Inc’s stock. Analyst ratings are significant because they provide insights into stock performance expectations, influencing investor decisions and market sentiment.
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Rocket Pharmaceuticals Inc (RCKT) Stock Trading Recap
On Tuesday, Rocket Pharmaceuticals Inc (RCKT) stock saw a decline, ending the day at $17.12 which represents a decrease of $-1.35 or -7.31% from the prior close of $18.47. The stock opened at $18.35 and touched a low of $16.21 during the day, reaching a high of $18.38. The volume of shares traded was 2.33 million exceeding the average volume of 0.81 million.
RCKT Stock Performance and Moving Averages
In recent trading, Rocket Pharmaceuticals Inc (RCKT) stock price has shown some volatility, fluctuating -6.40% over the last five trades and -9.18% over the past 30 trades. This represents a notable shift from earlier in the year. Over the last six months, the stock has risen by -33.39%, and it has plunged by -13.45% in the previous three months. Currently, RCKT is trading at -10.89%, -15.04%, and -29.27% relative to its 20-Day, 50-Day, and 200-Day Simple Moving Averages, respectively.
As of the latest trading close, RCKT, a Healthcare sector stock, is trading -47.36% below its 52-week high but remains 3.44% above its 52-week low. The Average True Range (ATR) (14 days) of 1.25 highlights the stock’s average volatility, providing insight into how much the price typically fluctuates. This measure is crucial for understanding potential price swings and assessing overall market risk.
Rocket Pharmaceuticals Inc’s Profitability and Valuation Ratios
Rocket Pharmaceuticals Inc’s profitability metrics reveal strong financial health. The company currently boasts an operating margin of 0.00% with a gross margin of -33.39%. The profit margin, also known as the revenue ratio or gross profit ratio, measures how efficiently a company converts sales into net income; higher margins indicate greater profitability.
In terms of valuation, Rocket Pharmaceuticals Inc’s market capitalization stands at $1.56 billion. Market cap represents the total value of all outstanding shares and is a key indicator of a company’s market value. Additionally, the Price-to-Book Ratio is 4.05, comparing the market value to the company’s book value.
Understanding Insider Trading
Investors often prefer to invest in shares held by company insiders, as management is typically more aligned with the company’s success and shareholder interests. Currently, insiders own just 7.87% of Rocket Pharmaceuticals Inc (RCKT)’s shares, while financial institutions hold 97.91%.
Notable insider trades include Shah Gaurav, CEO at Rocket Pharmaceuticals Inc (RCKT), who sold 9650 shares on Aug 16 ’24, at $18.5 each, totaling $0.18 million. On May 16 ’24, Shah Gaurav, CEO, sold 9790 shares for $23.35 each, amounting to $0.23 million. Additionally, on Apr 12 ’24, SOUTHWELL DAVID P sold 70000 shares at $24.36 each, generating $1.71 million.
