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 business’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $24.05, for a total transaction of $240,500.00. Following the transaction, the director now owns 114,784 shares of the company’s stock, valued at approximately $2,760,555.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Rocket Pharmaceuticals Stock Performance

Shares of Rocket Pharmaceuticals stock opened at $23.48 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 7.80 and a quick ratio of 7.80. The firm has a market cap of $2.12 billion, a price-to-earnings ratio of -7.99 and a beta of 1.07. Rocket Pharmaceuticals, Inc. has a one year low of $14.89 and a one year high of $32.53. The stock’s 50-day moving average is $27.33 and its 200-day moving average is $25.26.

Rocket Pharmaceuticals (NASDAQ:RCKT) last released its earnings results 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 period in the prior year, the firm posted ($0.92) earnings per share. Equities analysts predict that Rocket Pharmaceuticals, Inc. will post -2.94 earnings per share for the current fiscal year.

Institutional Trading of Rocket Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in RCKT. Wellington Management Group LLP boosted its holdings in Rocket Pharmaceuticals by 2.2% during the fourth quarter. Wellington Management Group LLP now owns 8,197,546 shares of the biotechnology company’s stock worth $245,680,000 after purchasing an additional 174,716 shares during the last quarter. Vanguard Group Inc. lifted its position 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 worth $163,264,000 after buying an additional 843,552 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Rocket Pharmaceuticals by 12.2% during the 3rd quarter. BlackRock Inc. now owns 4,494,274 shares of the biotechnology company’s stock worth $71,727,000 after buying an additional 488,509 shares during the last quarter. Westfield Capital Management Co. LP boosted its stake in shares of 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 worth $85,935,000 after buying an additional 538,209 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of Rocket Pharmaceuticals by 1.0% in 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. 98.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on RCKT shares. Needham & Company LLC reissued a “buy” rating and set a $53.00 price target on shares of Rocket Pharmaceuticals in a research report on Wednesday, April 10th. Lifesci Capital reiterated an “outperform” rating on shares of Rocket Pharmaceuticals in a report on Tuesday, December 26th. JPMorgan Chase & Co. lowered their price target on Rocket Pharmaceuticals from $55.00 to $50.00 and set an “overweight” rating for the company in a report on Tuesday, February 27th. UBS Group dropped their price target on Rocket Pharmaceuticals from $56.00 to $54.00 and set a “buy” rating on the stock in a research report on Friday, March 1st. Finally, StockNews.com upgraded Rocket Pharmaceuticals to a “sell” rating in a research report on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average 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.