Insider Selling: Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Insider Sells 833 Shares of Stock

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) insider John Militello sold 833 shares of the stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $22.87, for a total value of $19,050.71. Following the completion of the sale, the insider now owns 54,406 shares of the company’s stock, valued at $1,244,265.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Thursday, March 21st, John Militello sold 2,490 shares of Rocket Pharmaceuticals stock. The stock was 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 stock was sold at an average price of $29.84, for a total value of $298,400.00.

Rocket Pharmaceuticals Stock Performance

Shares of NASDAQ RCKT opened at $22.10 on Friday. The stock has a 50 day moving average price of $26.87 and a 200 day moving average price of $25.43. Rocket Pharmaceuticals, Inc. has a 52 week low of $14.89 and a 52 week high of $32.53. The company has a debt-to-equity ratio of 0.04, a quick ratio of 7.80 and a current ratio of 7.80. The stock has a market capitalization of $2.00 billion, a PE ratio of -7.52 and a beta of 1.07.

Rocket Pharmaceuticals (NASDAQ:RCKT) last released its quarterly earnings data on Monday, February 26th. The biotechnology company reported ($0.64) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.14. During the same period last year, the firm earned ($0.92) earnings per share. Analysts predict that Rocket Pharmaceuticals, Inc. will post -2.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RCKT has been the subject of several recent research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $65.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday, February 27th. StockNews.com raised Rocket Pharmaceuticals to a “sell” rating in a research report on Friday, February 9th. UBS Group reduced their price objective 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. Needham & Company LLC reaffirmed a “buy” rating and set a $53.00 price objective on shares of Rocket Pharmaceuticals in a research report on Wednesday, April 10th. Finally, 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 price objective for the company. One investment 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $52.13.

Institutional Trading of Rocket Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the business. Amalgamated Bank lifted its position in shares of Rocket Pharmaceuticals by 5.4% in the fourth quarter. Amalgamated Bank now owns 8,653 shares of the biotechnology company’s stock valued at $259,000 after buying an additional 440 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Rocket Pharmaceuticals by 14.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 5,145 shares of the biotechnology company’s stock valued at $105,000 after buying an additional 633 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Rocket Pharmaceuticals by 3.8% in the fourth quarter. Principal Financial Group Inc. now owns 17,963 shares of the biotechnology company’s stock valued at $538,000 after buying an additional 661 shares during the last quarter. Torray Investment Partners LLC lifted its position in shares of Rocket Pharmaceuticals by 1.1% in the fourth quarter. Torray Investment Partners LLC now owns 60,856 shares of the biotechnology company’s stock valued at $1,824,000 after buying an additional 679 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its position in shares of Rocket Pharmaceuticals by 5.8% in the third quarter. Teacher Retirement System of Texas now owns 15,955 shares of the biotechnology company’s stock valued at $327,000 after buying an additional 875 shares during the last quarter. 98.39% of the stock is owned by institutional investors and hedge funds.

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.