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Rocket Pharmaceuticals Inc. (NASDAQ:RCKT) Is 49.77% Above Its 52-Week Low, But How Long Can It Continue?

In last trading session, Rocket Pharmaceuticals Inc. (NASDAQ:RCKT) saw 2.56 million shares changing hands with its beta currently measuring 1.13. Company’s recent per share price level of $23.45 trading at -$0.6 or -2.49% at ring of the bell on the day assigns it a market valuation of $1.92B. That closing price of RCKT’s stock is at a discount of -5.12% from its 52-week high price of $24.65 and is indicating a premium of 49.77% from its 52-week low price of $11.78. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 3.52 million shares which gives us an average trading volume of 1.08 million if we extend that period to 3-months.

For Rocket Pharmaceuticals Inc. (RCKT), analysts’ consensus is at an average recommendation of a Buy while assigning it a mean rating of 1.60. Splitting up the data highlights that, out of 11 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 0 suggested the stock as a Hold whereas 11 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -$0.81 in the current quarter.

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Rocket Pharmaceuticals Inc. (NASDAQ:RCKT) trade information

Upright in the red during last session for losing -2.49%, in the last five days RCKT remained trading in the green while hitting it’s week-highest on Thursday, 09/14/23 when the stock touched $23.45 price level, adding 4.87% to its value on the day. Rocket Pharmaceuticals Inc.’s shares saw a change of 19.83% in year-to-date performance and have moved 49.94% in past 5-day. Rocket Pharmaceuticals Inc. (NASDAQ:RCKT) showed a performance of 48.61% in past 30-days. Number of shares sold short was 7.24 million shares which calculate 14.9 days to cover the short interests.

Wall Street analysts have assigned a consensus price target of $50.67 to the stock, which implies a rise of 53.72% to its current value. Analysts have been projecting $39.00 as a low price target for the stock while placing it at a high target of $65.00. It follows that stock’s current price would drop -177.19% in reaching the projected high whereas dropping to the targeted low would mean a loss of -66.31% for stock’s current value.

Rocket Pharmaceuticals Inc. (RCKT) estimates and forecasts

Statistics highlight that Rocket Pharmaceuticals Inc. is scoring comparatively lower than the scores of other players of the relevant industry. The company added 26.14% of value to its shares in past 6 months, showing an annual growth rate of 2.76% while that of industry is 12.00. Apart from that, the company came raising its revenue forecast for fiscal year 2023. The company is estimating its revenue growth to increase by 6.90% in the current quarter and calculating 13.00% increase in the next quarter.

And 7 analysts are in estimates of company making revenue of $1.41 million in the next quarter that will end on Dec 2023.

Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of -2.50% during past 5 years.

RCKT Dividends

Rocket Pharmaceuticals Inc. is more likely to be releasing its next quarterly report in October and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

Rocket Pharmaceuticals Inc. (NASDAQ:RCKT)’s Major holders

Insiders are in possession of 3.76% of company’s total shares while institution are holding 100.17 percent of that, with stock having share float percentage of 104.08%. Investors also watch the number of corporate investors in a company very closely, which is 100.17% institutions for Rocket Pharmaceuticals Inc. that are currently holding shares of the company. RTW Investments LP is the top institutional holder at RCKT for having 17.69 million shares of worth $351.46 million. And as of Jun 29, 2023, it was holding 21.97% of the company’s outstanding shares.

The second largest institutional holder is Wellington Management Group, LLP, which was holding about 5.14 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 6.39% of outstanding shares, having a total worth of $102.18 million.

On the other hand, Vanguard Specialized-Health Care Fund and SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF are the top two Mutual Funds which own company’s shares. As of Apr 29, 2023, the former fund manager was holding 2.57 million shares of worth $46.07 million or 3.19% of the total outstanding shares. The later fund manager was in possession of 2.03 million shares on Jul 30, 2023, making its stake of worth around $36.62 million in the company or a holder of 2.52% of company’s stock.

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