Insider Selling: Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Director Sells $1,705,200.00 in Stock

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Director David P. Southwell sold 70,000 shares of the stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $24.36, for a total transaction of $1,705,200.00. Following the sale, the director now owns 95,160 shares in the company, valued at approximately $2,318,097.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Rocket Pharmaceuticals Price Performance

Shares of Rocket Pharmaceuticals stock opened at $22.80 on Friday. The stock’s fifty day moving average is $27.20 and its 200 day moving average is $25.28. Rocket Pharmaceuticals, Inc. has a one year low of $14.89 and a one year 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 cap of $2.06 billion, a P/E ratio of -7.76 and a beta of 1.07.

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

Hedge Funds Weigh In On Rocket Pharmaceuticals

Hedge funds have recently modified their holdings of the company. Advisor Group Holdings Inc. boosted its holdings in Rocket Pharmaceuticals by 861.5% in the 4th quarter. Advisor Group Holdings Inc. now owns 1,923 shares of the biotechnology company’s stock worth $38,000 after buying an additional 1,723 shares during the period. Steward Partners Investment Advisory LLC bought a new position in shares of Rocket Pharmaceuticals in the fourth quarter worth about $39,000. China Universal Asset Management Co. Ltd. boosted its stake in shares of Rocket Pharmaceuticals by 96.2% in the third quarter. China Universal Asset Management Co. Ltd. now owns 2,068 shares of the biotechnology company’s stock worth $42,000 after acquiring an additional 1,014 shares during the period. Wells Fargo & Company MN grew its position in shares of Rocket Pharmaceuticals by 63.9% during the fourth quarter. Wells Fargo & Company MN now owns 2,644 shares of the biotechnology company’s stock worth $52,000 after purchasing an additional 1,031 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY raised its stake 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 valued at $63,000 after purchasing an additional 621 shares during the period. 98.39% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on RCKT. UBS Group cut their target price on Rocket Pharmaceuticals from $56.00 to $54.00 and set a “buy” rating on the stock in a research note on Friday, March 1st. Lifesci Capital restated an “outperform” rating on shares of Rocket Pharmaceuticals in a research note on Tuesday, December 26th. Needham & Company LLC reiterated a “buy” rating and issued a $53.00 price target on shares of Rocket Pharmaceuticals in a research note on Wednesday, April 10th. JPMorgan Chase & Co. cut 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 report on Tuesday, February 27th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $65.00 price target on shares of Rocket Pharmaceuticals in a report on Tuesday, February 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Rocket Pharmaceuticals presently 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.