The stock of Rocket Pharmaceuticals Inc. (NASDAQ:RCKT) decreased by -$0.2 on Tuesday to finish at $22.98, down -0.86 percent. The last five days have seen an average of 7,358,200 shares of common stock traded. 12 times new highs were reached in the current year, with a gain of $3.41. The average number of shares traded over the last 20 days was 2,171,495, while the average volume over the last 50 days totaled 1,203,866.
RCKT stock appreciated 52.49% since last month. On 08/21/23, the company’s shares reached a one-month low of $14.89. The stock touched a high of $24.65 on 09/14/23, after rallying from a low of $11.78 in 52 weeks. The price of RCKT stock has risen by 17.42% or $3.41 this year, reaching a new high 12 times. Still, the stock price is down -6.77% from the 52-week high.
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Insider Transactions
RCKT stock investors should be aware that Rocket Pharmaceuticals Inc. (RCKT) stock had its last reported insider trading activity 34 days ago on Aug 17. On Aug 17, CEO Shah Gaurav sold 4,767 shares at $15.47 each. This transaction resulted in the insider making $73,750. On Aug 17, Patel Kinnari sold 1,534 shares at a price of US$15.47. After the transaction, the insider now owns 216,448 shares. Militello John had earlier sold 284 shares on Aug 17 for $15.47 a share. The transaction was completed for $4,394.
Financial Health
For the three months ended June 29, Rocket Pharmaceuticals Inc.’s quick ratio was 9.10, while its current ratio was 9.10, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.05, and the total debt to equity ratio is 0.05. Based on annual data, it had gross profit of $1.86 million and revenue of $224.34 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. RCKT’s return on assets (ROA) during the last 12 months has been -51.10%. In the meantime, the return on equity (ROE) for the last 12 months was -57.80%.
Earnings Surprise
According to Rocket Pharmaceuticals Inc.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. It was predicted that Rocket Pharmaceuticals Inc.’s quarterly earnings would be -$0.82, but it ended up being -$0.79, beating the consensus by -3.80%. EBITDA was -$71.86 million for the quarter. At the end of Rocket Pharmaceuticals Inc.’s most recent quarter ended June 29, its liabilities totaled 58.81 million, while its total debt was $25.39 million. Equity owned by shareholders amounts to $80.53 million.
Technical Picture
Here’s a quick look at Rocket Pharmaceuticals Inc.’s (RCKT) price momentum from a technical perspective. As of 19 September, the RSI 9-day stood at 77.57%, suggesting the stock is Overbought, with a 174.50% historical volatility rate.
The stochastic %K and %D were 84.58% and 87.19% respectively, while the average true range (ATR) was 1.44. Based on the 14-day stochastic reading of 82.20%, the RSI (14) reading is 73.94%. On the 9-day MACD Oscillator, the stock is at 3.51, and the 14-day reading is at 4.84.
Analyst Ratings
In its analyst report released on February 01, 2023, Morgan Stanley began covering Rocket Pharmaceuticals Inc. (NASDAQ: RCKT). The stock was rated as an Overweight by the brokerage firm.
