Insider Selling: Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Insider Sells 833 Shares of Stock

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) insider John Militello sold 833 shares of the company’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $22.87, for a total value of $19,050.71. Following the completion of the transaction, the insider now owns 54,406 shares in the company, valued at $1,244,265.22. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

John Militello also recently made the following trade(s):

• On Thursday, March 21st, John Militello sold 2,490 shares of Rocket Pharmaceuticals stock. The stock was sold at an average price of $28.10, for a total value of $69,969.00.
• On Thursday, February 29th, John Militello sold 10,000 shares of Rocket Pharmaceuticals stock. The stock was sold at an average price of $29.84, for a total value of $298,400.00.

Rocket Pharmaceuticals Stock Down 0.2 %

RCKT traded down $0.04 during trading on Wednesday, hitting $23.63. 918,654 shares of the company’s stock traded hands, compared to its average volume of 715,685. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of -8.04 and a beta of 1.07. Rocket Pharmaceuticals, Inc. has a 12-month low of $14.89 and a 12-month high of $32.53. The company has a current ratio of 7.80, a quick ratio of 7.80 and a debt-to-equity ratio of 0.04. The company’s 50 day simple moving average is $26.97 and its two-hundred day simple moving average is $25.44.

Rocket Pharmaceuticals (NASDAQ:RCKT) last released its earnings results on Monday, February 26th. The biotechnology company reported ($0.64) earnings per share for the quarter, beating the consensus estimate of ($0.78) by $0.14. During the same period in the previous year, the company earned ($0.92) EPS. Analysts predict that Rocket Pharmaceuticals, Inc. will post -2.94 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group assumed coverage on Rocket Pharmaceuticals in a report on Tuesday, April 2nd. They set a “neutral” rating and a $39.00 target price for the company. Needham & Company LLC reiterated a “buy” rating and issued a $53.00 price objective on shares of Rocket Pharmaceuticals in a report on Wednesday, April 10th. StockNews.com upgraded Rocket Pharmaceuticals to a “sell” rating in a report on Friday, February 9th. UBS Group dropped their price objective on Rocket Pharmaceuticals from $56.00 to $54.00 and set a “buy” rating for the company in a report on Friday, March 1st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $65.00 price objective on shares of Rocket Pharmaceuticals in a report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Rocket Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $52.13.

Institutional Investors Weigh In On Rocket Pharmaceuticals

Several large investors have recently made changes to their positions in RCKT. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Rocket Pharmaceuticals by 96.2% in the third quarter. China Universal Asset Management Co. Ltd. now owns 2,068 shares of the biotechnology company’s stock valued at $42,000 after purchasing an additional 1,014 shares during the period. Annandale Capital LLC acquired a new position in shares of Rocket Pharmaceuticals in the 3rd quarter valued at $66,000. Allspring Global Investments Holdings LLC boosted its holdings in Rocket Pharmaceuticals by 14.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 5,145 shares of the biotechnology company’s stock valued at $105,000 after purchasing an additional 633 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Rocket Pharmaceuticals by 105.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,557 shares of the biotechnology company’s stock worth $107,000 after acquiring an additional 1,829 shares in the last quarter. Finally, Old Well Partners LLC purchased a new position in Rocket Pharmaceuticals in the 4th quarter valued at about $200,000. 98.39% of the stock is owned by institutional investors.

About Rocket Pharmaceuticals

Rocket Pharmaceuticals, Inc, together with its subsidiaries, operates as a late-stage biotechnology company that focuses on developing gene therapies for rare and devastating diseases. It has three clinical-stage ex vivo lentiviral vector programs for fanconi anemia, a genetic defect in the bone marrow that reduces production of blood cells or promotes the production of faulty blood cells; leukocyte adhesion deficiency-I, a genetic disorder that causes the immune system to malfunction; and pyruvate kinase deficiency, a rare red blood cell autosomal recessive disorder that results in chronic non-spherocytic hemolytic anemia.