Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Director David P. Southwell Sells 70,000 Shares

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Director David P. Southwell sold 70,000 shares of the firm’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $24.36, for a total transaction of $1,705,200.00. Following the transaction, the director now directly owns 95,160 shares in the company, valued at $2,318,097.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Rocket Pharmaceuticals Stock Down 0.8 %

Shares of NASDAQ RCKT opened at $23.48 on Friday. 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 52 week low of $14.89 and a 52 week high of $32.53. The firm has a 50-day moving average price of $27.33 and a 200 day moving average price of $25.26. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of -7.99 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) EPS for the quarter, beating the consensus estimate of ($0.78) by $0.14. During the same quarter last year, the firm posted ($0.92) earnings per share. Equities research analysts anticipate that Rocket Pharmaceuticals, Inc. will post -2.94 EPS for the current fiscal year.

Institutional Trading of Rocket Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP increased its holdings in Rocket Pharmaceuticals by 2.2% during the 4th quarter. Wellington Management Group LLP now owns 8,197,546 shares of the biotechnology company’s stock valued at $245,680,000 after acquiring an additional 174,716 shares in the last quarter. Vanguard Group Inc. increased its holdings in Rocket Pharmaceuticals by 18.3% during the 4th quarter. Vanguard Group Inc. now owns 5,447,565 shares of the biotechnology company’s stock valued at $163,264,000 after acquiring an additional 843,552 shares in the last quarter. BlackRock Inc. increased its holdings in Rocket Pharmaceuticals by 12.2% during the 3rd quarter. BlackRock Inc. now owns 4,494,274 shares of the biotechnology company’s stock valued at $71,727,000 after acquiring an additional 488,509 shares in the last quarter. Westfield Capital Management Co. LP increased its holdings in Rocket Pharmaceuticals by 14.7% during the 3rd quarter. Westfield Capital Management Co. LP now owns 4,193,996 shares of the biotechnology company’s stock valued at $85,935,000 after acquiring an additional 538,209 shares in the last quarter. Finally, State Street Corp increased its holdings in Rocket Pharmaceuticals by 1.0% during the 1st quarter. State Street Corp now owns 4,019,686 shares of the biotechnology company’s stock valued at $68,857,000 after acquiring an additional 40,701 shares in the last quarter. Institutional investors and hedge funds own 98.39% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on RCKT. UBS Group reduced their target price on shares of Rocket Pharmaceuticals from $56.00 to $54.00 and set a “buy” rating for the company in a research note on Friday, March 1st. Needham & Company LLC restated a “buy” rating and issued a $53.00 target price on shares of Rocket Pharmaceuticals in a research note on Wednesday, April 10th. Cantor Fitzgerald restated an “overweight” rating and issued a $65.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday, February 27th. JPMorgan Chase & Co. reduced their target price on shares of Rocket Pharmaceuticals from $55.00 to $50.00 and set an “overweight” rating for the company in a research note on Tuesday, February 27th. Finally, StockNews.com upgraded shares of Rocket Pharmaceuticals to a “sell” rating in a research note on Friday, February 9th. One investment 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, Rocket Pharmaceuticals has an average rating of “Moderate Buy” and an average 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.