Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Insider Mark Andrew White Sells 12,532 Shares of Stock

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) insider Mark Andrew White sold 12,532 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $24.64, for a total value of $308,788.48. Following the completion of the transaction, the insider now directly owns 75,226 shares of the company’s stock, valued at $1,853,568.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Rocket Pharmaceuticals Trading Down 3.7 %

Shares of Rocket Pharmaceuticals stock opened at $24.42 on Thursday. Rocket Pharmaceuticals, Inc. has a fifty-two week low of $14.89 and a fifty-two week high of $32.53. The business’s fifty day moving average is $27.91 and its two-hundred day moving average is $25.15. 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 cap of $2.21 billion, a PE ratio of -8.31 and a beta of 1.07.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its quarterly earnings data 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 quarter in the previous year, the business earned ($0.92) EPS. Analysts anticipate that Rocket Pharmaceuticals, Inc. will post -2.94 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on RCKT. JPMorgan Chase & Co. lowered their price target on shares of Rocket Pharmaceuticals from $55.00 to $50.00 and set an “overweight” rating on the stock in a report on Tuesday, February 27th. The Goldman Sachs Group initiated coverage on Rocket Pharmaceuticals in a research report on Tuesday, April 2nd. They set a “neutral” rating and a $39.00 target price on the stock. UBS Group reduced their price target on Rocket Pharmaceuticals from $56.00 to $54.00 and set a “buy” rating for the company in a report on Friday, March 1st. Cantor Fitzgerald reissued an “overweight” rating and issued a $65.00 price objective on shares of Rocket Pharmaceuticals in a report on Tuesday, February 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $53.00 target price on shares of Rocket Pharmaceuticals in a research note on Wednesday. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $52.13.

Institutional Investors Weigh In On Rocket Pharmaceuticals

Several institutional investors have recently bought and sold shares of the business. Comerica Bank acquired a new position in shares of Rocket Pharmaceuticals during the 3rd quarter valued at $9,017,000. Bamco Inc. NY boosted its position in shares of Rocket Pharmaceuticals by 25.5% in the third quarter. Bamco Inc. NY now owns 1,108,017 shares of the biotechnology company’s stock worth $22,703,000 after buying an additional 225,231 shares during the period. Wellington Management Group LLP raised its holdings in shares of Rocket Pharmaceuticals by 56.0% during the 3rd quarter. Wellington Management Group LLP now owns 8,022,830 shares of the biotechnology company’s stock valued at $164,388,000 after buying an additional 2,880,373 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Rocket Pharmaceuticals by 7.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 468,206 shares of the biotechnology company’s stock valued at $9,594,000 after buying an additional 32,836 shares during the period. Finally, Rathbones Group PLC acquired a new position in Rocket Pharmaceuticals during the 3rd quarter worth approximately $615,000. 98.39% of the stock is currently owned by hedge funds and other 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.