Insider Selling: Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Insider Sells $15,973.20 in Stock

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) insider John Militello sold 1,224 shares of Rocket Pharmaceuticals stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $13.05, for a total value of $15,973.20. Following the sale, the insider now directly owns 49,310 shares of the company’s stock, valued at $643,495.50. This trade represents a 2.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Rocket Pharmaceuticals Price Performance

NASDAQ:RCKT opened at $14.20 on Thursday. Rocket Pharmaceuticals, Inc. has a one year low of $12.62 and a one year high of $32.53. The stock has a market cap of $1.29 billion, a PE ratio of -5.13 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.05 and a current ratio of 6.05. The stock has a 50 day moving average price of $16.89 and a 200 day moving average price of $19.70.

Wall Street Analysts Forecast Growth

RCKT has been the topic of several recent research reports. Chardan Capital reaffirmed a “buy” rating and issued a $62.00 price objective on shares of Rocket Pharmaceuticals in a report on Monday, November 18th. Scotiabank started coverage on shares of Rocket Pharmaceuticals in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $50.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and set a $52.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. Canaccord Genuity Group restated a “buy” rating and issued a $39.00 price target on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. Finally, Leerink Partners lowered their price target on Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Rocket Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.00.

Institutional Investors Weigh In On Rocket Pharmaceuticals

Hedge funds have recently modified their holdings of the company. Wellington Management Group LLP lifted its holdings in Rocket Pharmaceuticals by 22.8% in the third quarter. Wellington Management Group LLP now owns 11,242,144 shares of the biotechnology company’s stock valued at $207,642,000 after acquiring an additional 2,086,424 shares during the last quarter. Janus Henderson Group PLC lifted its position in Rocket Pharmaceuticals by 174.3% in the first quarter. Janus Henderson Group PLC now owns 2,606,016 shares of the biotechnology company’s stock valued at $70,170,000 after buying an additional 1,656,111 shares during the last quarter. State Street Corp raised its stake in shares of Rocket Pharmaceuticals by 11.6% in the 3rd quarter. State Street Corp now owns 3,102,022 shares of the biotechnology company’s stock valued at $57,294,000 after acquiring an additional 322,156 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Rocket Pharmaceuticals by 11.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,943,160 shares of the biotechnology company’s stock worth $79,290,000 after purchasing an additional 314,086 shares during the period. Finally, First Turn Management LLC increased its holdings in Rocket Pharmaceuticals by 123.6% in the 2nd quarter. First Turn Management LLC now owns 560,989 shares of the biotechnology company’s stock valued at $12,078,000 after purchasing an additional 310,119 shares during the last quarter. Hedge funds and other institutional investors own 98.39% of the company’s stock.

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.