Rocket Pharmaceuticals Inc. (NASDAQ: RCKT)’s stock price has decreased by -2.95 compared to its previous closing price of 19.30. However, the company has experienced a -7.60% decline in its stock price over the last five trading sessions.
Is It Worth Investing in Rocket Pharmaceuticals Inc. (NASDAQ: RCKT) Right Now?
Moreover, the 36-month beta value for RCKT is 1.25. Analysts have varying opinions on the stock, with 14 analysts rating it as a “buy,” 1 as “overweight,” 0 as “hold,” and 0 as “sell.”
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The average price recommended by analysts for Rocket Pharmaceuticals Inc. (RCKT) is $50.23, which is $31.35 above the current market price. The public float for RCKT is 75.33M and currently, short sellers hold a 11.03% of that float. On March 15, 2023, RCKT’s average trading volume was 909.63K shares.
RCKT’s Market Performance
RCKT stock saw a decrease of -7.60% in the past week, with a monthly decline of -4.92% and a quarterly a decrease of -1.42%. The volatility ratio for the week is 7.77%, and the volatility levels for the last 30 days are 5.44% for Rocket Pharmaceuticals Inc. (RCKT). The simple moving average for the last 20 days is -4.16% for RCKT stock, with a simple moving average of 9.10% for the last 200 days.
Analysts’ Opinion of RCKT
Many brokerage firms have already submitted their reports for RCKT stocks, with Morgan Stanley repeating the rating for RCKT by listing it as a “Overweight.” The predicted price for RCKT in the upcoming period, according to Morgan Stanley is $45 based on the research report published on February 01st of the current year 2023.
Canaccord Genuity, on the other hand, stated in their research note that they expect to see RCKT reach a price target of $53. The rating they have provided for RCKT stocks is “Buy” according to the report published on November 08th, 2022.
BTIG Research gave a rating of “Buy” to RCKT, setting the target price at $35 in the report published on November 01st of the previous year.
RCKT Trading at -7.39% from the 50-Day Moving Average
After a stumble in the market that brought RCKT to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -20.23% of loss for the given period.
Volatility was left at 5.44%, however, over the last 30 days, the volatility rate increased by 7.77%, as shares sank -4.49% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -3.95% lower at present.
During the last 5 trading sessions, RCKT fell by -7.60%, which changed the moving average for the period of 200-days by +89.00% in comparison to the 20-day moving average, which settled at $19.50. In addition, Rocket Pharmaceuticals Inc. saw -4.29% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at RCKT starting from Shah Gaurav, who sale 12,194 shares at the price of $19.06 back on Feb 17. After this action, Shah Gaurav now owns 536,885 shares of Rocket Pharmaceuticals Inc., valued at $232,418 using the latest closing price.
Schwartz Jonathan David, the of Rocket Pharmaceuticals Inc., sale 3,557 shares at $19.06 during a trade that took place back on Feb 17, which means that Schwartz Jonathan David is holding 94,546 shares at $67,796 based on the most recent closing price.
Stock Fundamentals for RCKT
Equity return is now at value -53.40, with -47.70 for asset returns.
The liquidity ratio also appears to be rather interesting for investors as it stands at 9.29.
Conclusion
To wrap up, the performance of Rocket Pharmaceuticals Inc. (RCKT) has been bad in recent times. The stock has received a bullish of “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
