David P. Southwell Sells 10,000 Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Stock

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Director David P. Southwell sold 10,000 shares of Rocket Pharmaceuticals stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $24.05, for a total transaction of $240,500.00. Following the completion of the transaction, the director now owns 114,784 shares of the company’s stock, valued at $2,760,555.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Rocket Pharmaceuticals Stock Down 2.9 %

Shares of NASDAQ:RCKT opened at $22.80 on Friday. Rocket Pharmaceuticals, Inc. has a 52-week low of $14.89 and a 52-week high of $32.53. The firm has a fifty day moving average of $27.20 and a 200 day moving average of $25.28. The firm has a market capitalization of $2.06 billion, a PE ratio of -7.76 and a beta of 1.07. The company has a debt-to-equity ratio of 0.04, a quick ratio of 7.80 and a current ratio of 7.80.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its earnings results on Monday, February 26th. The biotechnology company reported ($0.64) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.78) by $0.14. During the same quarter in the previous year, the business earned ($0.92) earnings per share. As a group, research analysts anticipate that Rocket Pharmaceuticals, Inc. will post -2.94 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on RCKT shares. JPMorgan Chase & Co. reduced their price target on shares of Rocket Pharmaceuticals from $55.00 to $50.00 and set an “overweight” rating for the company in a research report on Tuesday, February 27th. The Goldman Sachs Group started coverage on shares of Rocket Pharmaceuticals in a research report on Tuesday, April 2nd. They set a “neutral” rating and a $39.00 price target for the company. UBS Group reduced their price target on shares of Rocket Pharmaceuticals from $56.00 to $54.00 and set a “buy” rating for the company in a research report on Friday, March 1st. StockNews.com upgraded shares of Rocket Pharmaceuticals to a “sell” rating in a research report on Friday, February 9th. Finally, Lifesci Capital restated an “outperform” rating on shares of Rocket Pharmaceuticals in a research report on Tuesday, December 26th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Rocket Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $52.13.

Institutional Trading of Rocket Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the business. Advisor Group Holdings Inc. lifted its stake in Rocket Pharmaceuticals by 861.5% in the fourth quarter. Advisor Group Holdings Inc. now owns 1,923 shares of the biotechnology company’s stock worth $38,000 after purchasing an additional 1,723 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new stake in Rocket Pharmaceuticals in the fourth quarter worth $39,000. China Universal Asset Management Co. Ltd. lifted its stake in 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 worth $42,000 after purchasing an additional 1,014 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Rocket Pharmaceuticals by 63.9% in the fourth quarter. Wells Fargo & Company MN now owns 2,644 shares of the biotechnology company’s stock worth $52,000 after purchasing an additional 1,031 shares during the last quarter. Finally, Metropolitan Life Insurance Co NY lifted its stake in Rocket Pharmaceuticals by 24.0% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 3,205 shares of the biotechnology company’s stock worth $63,000 after purchasing an additional 621 shares during the last quarter. 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.