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 stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $22.87, for a total value of $19,050.71. Following the sale, the insider now directly owns 54,406 shares in the company, valued at $1,244,265.22. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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 transaction of $69,969.00.
• On Thursday, February 29th, John Militello sold 10,000 shares of Rocket Pharmaceuticals stock. The shares were sold at an average price of $29.84, for a total transaction of $298,400.00.

Rocket Pharmaceuticals Trading Down 0.5 %

Shares of RCKT stock opened at $21.98 on Friday. Rocket Pharmaceuticals, Inc. has a twelve month low of $14.89 and a twelve month high of $32.53. The stock’s fifty day simple moving average is $26.70 and its 200 day simple moving average is $25.41. The company has a quick ratio of 7.80, a current ratio of 7.80 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $1.99 billion, a P/E ratio of -7.48 and a beta of 1.07.

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

Hedge Funds Weigh In On Rocket Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new position in shares of Rocket Pharmaceuticals during the third quarter worth $1,679,000. Avior Wealth Management LLC grew its position in shares of Rocket Pharmaceuticals by 9.1% in the 3rd quarter. Avior Wealth Management LLC now owns 17,767 shares of the biotechnology company’s stock valued at $364,000 after buying an additional 1,487 shares during the last quarter. Harbor Capital Advisors Inc. increased its stake in shares of Rocket Pharmaceuticals by 3.7% in the third quarter. Harbor Capital Advisors Inc. now owns 57,317 shares of the biotechnology company’s stock valued at $1,174,000 after buying an additional 2,035 shares during the period. Bank of New York Mellon Corp raised its position in shares of Rocket Pharmaceuticals by 21.8% during the third quarter. Bank of New York Mellon Corp now owns 244,252 shares of the biotechnology company’s stock worth $5,005,000 after acquiring an additional 43,754 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Rocket Pharmaceuticals by 26.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,731 shares of the biotechnology company’s stock worth $302,000 after acquiring an additional 3,038 shares during the period. 98.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on RCKT. UBS Group reduced their price target on shares of Rocket Pharmaceuticals from $56.00 to $54.00 and set a “buy” rating on the stock in a research report on Friday, March 1st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $65.00 price target on shares of Rocket Pharmaceuticals in a research note on Tuesday, February 27th. 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 price target for the company. StockNews.com raised Rocket Pharmaceuticals to a “sell” rating in a research note on Friday, February 9th. Finally, JPMorgan Chase & Co. lowered their target price on Rocket Pharmaceuticals from $55.00 to $50.00 and set an “overweight” rating for the company in a research note on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $52.13.

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.