Insider Selling: Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Director Sells $240,500.00 in Stock

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Director David P. Southwell sold 10,000 shares of the stock in a transaction on Monday, April 15th. The shares were sold at an average price of $24.05, for a total value 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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Rocket Pharmaceuticals Stock Down 2.9 %

Shares of NASDAQ:RCKT opened at $22.80 on Friday. The firm has a market cap of $2.06 billion, a P/E ratio of -7.76 and a beta of 1.07. The company has a quick ratio of 7.80, a current ratio of 7.80 and a debt-to-equity ratio of 0.04. Rocket Pharmaceuticals, Inc. has a 12-month low of $14.89 and a 12-month high of $32.53. The business has a fifty day simple moving average of $27.20 and a 200 day simple moving average of $25.28.

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 period in the prior year, the business earned ($0.92) EPS. Analysts predict that Rocket Pharmaceuticals, Inc. will post -2.94 earnings per share for the current year.

Institutional Trading of Rocket Pharmaceuticals

A number of large investors have recently bought and sold shares of the business. Amalgamated Bank grew its holdings in Rocket Pharmaceuticals by 5.4% during the 4th quarter. Amalgamated Bank now owns 8,653 shares of the biotechnology company’s stock worth $259,000 after acquiring an additional 440 shares during the period. Gilder Gagnon Howe & Co. LLC grew its holdings in Rocket Pharmaceuticals by 2.5% during the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 19,379 shares of the biotechnology company’s stock worth $581,000 after acquiring an additional 475 shares during the period. Metropolitan Life Insurance Co NY grew its holdings in Rocket Pharmaceuticals by 24.0% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 3,205 shares of the biotechnology company’s stock worth $63,000 after acquiring an additional 621 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Rocket Pharmaceuticals by 14.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,145 shares of the biotechnology company’s stock worth $105,000 after acquiring an additional 633 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in Rocket Pharmaceuticals by 3.8% during the 4th quarter. Principal Financial Group Inc. now owns 17,963 shares of the biotechnology company’s stock worth $538,000 after acquiring an additional 661 shares during the period. 98.39% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RCKT has been the subject of a number of research reports. StockNews.com upgraded Rocket Pharmaceuticals to a “sell” rating in a research note on Friday, February 9th. JPMorgan Chase & Co. dropped their price target 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. Lifesci Capital reiterated an “outperform” rating on shares of Rocket Pharmaceuticals in a research note on Tuesday, December 26th. The Goldman Sachs Group initiated coverage on Rocket Pharmaceuticals in a research note on Tuesday, April 2nd. They issued a “neutral” rating and a $39.00 price target for the company. Finally, 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. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $52.13.

Rocket Pharmaceuticals Company Profile

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.