Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Insider John Militello Sells 1,079 Shares

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) insider John Militello sold 1,079 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $23.35, for a total value of $25,194.65. Following the completion of the sale, the insider now owns 53,327 shares in the company, valued at $1,245,185.45. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Monday, April 22nd, John Militello sold 833 shares of Rocket Pharmaceuticals stock. The shares were sold at an average price of $22.87, for a total value of $19,050.71.
• On Thursday, March 21st, John Militello sold 2,490 shares of Rocket Pharmaceuticals stock. The shares were 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 shares were sold at an average price of $29.84, for a total value of $298,400.00.

Rocket Pharmaceuticals Price Performance

Shares of Rocket Pharmaceuticals stock opened at $22.83 on Tuesday. The company has a quick ratio of 10.47, a current ratio of 10.47 and a debt-to-equity ratio of 0.04. The company has a market cap of $2.07 billion, a PE ratio of -7.95 and a beta of 1.12. The business has a 50 day moving average of $24.63 and a 200 day moving average of $26.11. Rocket Pharmaceuticals, Inc. has a 52 week low of $14.89 and a 52 week high of $32.53.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its earnings results on Monday, May 6th. The biotechnology company reported ($0.66) EPS for the quarter, beating analysts’ consensus estimates of ($0.67) by $0.01. During the same period in the prior year, the company posted ($0.73) EPS. As a group, equities research analysts forecast that Rocket Pharmaceuticals, Inc. will post -2.85 earnings per share for the current year.

Institutional Investors Weigh In On Rocket Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Comerica Bank purchased a new stake in Rocket Pharmaceuticals in the third quarter worth $9,017,000. Bamco Inc. NY grew its stake in 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 purchasing an additional 225,231 shares during the period. Wellington Management Group LLP grew its stake in Rocket Pharmaceuticals by 56.0% in the third quarter. Wellington Management Group LLP now owns 8,022,830 shares of the biotechnology company’s stock worth $164,388,000 after purchasing an additional 2,880,373 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Rocket Pharmaceuticals by 7.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 468,206 shares of the biotechnology company’s stock worth $9,594,000 after purchasing an additional 32,836 shares during the period. Finally, Rathbones Group PLC purchased a new stake in Rocket Pharmaceuticals in the third quarter worth $615,000. 98.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. StockNews.com raised Rocket Pharmaceuticals to a “sell” rating in a report on Friday, February 9th. UBS Group dropped their target price on Rocket Pharmaceuticals from $56.00 to $54.00 and set a “buy” rating for the company in a research report on Friday, March 1st. The Goldman Sachs Group began coverage on Rocket Pharmaceuticals in a research report on Tuesday, April 2nd. They issued a “neutral” rating and a $39.00 target price for the company. Cantor Fitzgerald restated an “overweight” rating and issued a $65.00 target price on shares of Rocket Pharmaceuticals in a research report on Tuesday, February 27th. Finally, JPMorgan Chase & Co. dropped their target price on Rocket Pharmaceuticals from $55.00 to $50.00 and set an “overweight” rating for the company in a research report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.