Rocket Pharmaceuticals (RCKT) Shares Soar 12.73% After 52-Week Low

Rocket Pharmaceuticals (RCKT) shares surged by 12.73% today, marking a significant rebound from its record low intraday decline of 5.01%.

Rocket Pharmaceuticals' stock price has been under pressure recently, hitting a new 52-week low of $4.60. This decline can be attributed to several factors, including the sale of 7,489 shares by the company's Chief Financial Officer, Aaron Ondrey. Such insider selling often raises concerns among investors about the company's future prospects.

Adding to the pressure, Needham & Company LLC recently lowered their price target for Rocket Pharmaceuticals from $52.00 to $42.00. This reduction in the price target reflects a more cautious outlook on the company's performance, which can further dampen investor sentiment. However, today's surge suggests that some investors may be seeing value in the stock at its current levels, despite the recent setbacks.