John Militello Sells 7,043 Shares of Rocket Pharmaceuticals (NASDAQ:RCKT) Stock

Key Points

• Insider John Militello sold 7,043 shares of Rocket Pharmaceuticals stock at an average price of $3.02, reducing his ownership by 11% to 56,984 shares.
• Rocket Pharmaceuticals reported a loss per share of ($0.59) in its latest earnings report, missing analyst estimates and showing improvement from the previous year's loss of ($0.74) per share.
• Analysts have varied opinions on the stock, with a consensus rating of "Hold" and an average price target currently set at $16.33.

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Get Free Report) insider John Militello sold 7,043 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $3.02, for a total transaction of $21,269.86. Following the completion of the sale, the insider owned 56,984 shares in the company, valued at approximately $172,091.68. The trade was a 11.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Tuesday, August 19th, John Militello sold 361 shares of Rocket Pharmaceuticals stock. The shares were sold at an average price of $3.00, for a total transaction of $1,083.00.
• On Monday, August 18th, John Militello sold 699 shares of Rocket Pharmaceuticals stock. The shares were sold at an average price of $3.06, for a total transaction of $2,138.94.

Rocket Pharmaceuticals Price Performance

Shares of RCKT traded down $0.09 during mid-day trading on Friday, reaching $3.64. The company had a trading volume of 7,407,579 shares, compared to its average volume of 5,509,566. The company's 50 day simple moving average is $2.99 and its 200 day simple moving average is $5.62. Rocket Pharmaceuticals, Inc. has a 1-year low of $2.19 and a 1-year high of $22.01. The company has a debt-to-equity ratio of 0.05, a quick ratio of 6.39 and a current ratio of 6.39. The company has a market capitalization of $392.76 million, a price-to-earnings ratio of -1.45 and a beta of 0.65.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The biotechnology company reported ($0.59) earnings per share for the quarter, missing analysts' consensus estimates of ($0.57) by ($0.02). During the same quarter in the prior year, the business posted ($0.74) EPS. Analysts expect that Rocket Pharmaceuticals, Inc. will post -2.83 EPS for the current year.

Analyst Upgrades and Downgrades

RCKT has been the topic of several recent research reports. Cantor Fitzgerald cut their target price on shares of Rocket Pharmaceuticals from $10.00 to $8.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. Leerink Partners reiterated a "market perform" rating and set a $8.00 target price (down from $37.00) on shares of Rocket Pharmaceuticals in a research report on Wednesday, May 28th. Needham & Company LLC reiterated a "hold" rating on shares of Rocket Pharmaceuticals in a research report on Thursday, July 24th. Scotiabank cut their target price on shares of Rocket Pharmaceuticals from $51.00 to $19.00 and set a "sector outperform" rating on the stock in a research report on Wednesday, May 28th. Finally, TD Cowen reiterated a "hold" rating on shares of Rocket Pharmaceuticals in a research report on Tuesday, May 27th. Eight research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $16.73.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of RCKT. Prudential Financial Inc. acquired a new position in shares of Rocket Pharmaceuticals in the 2nd quarter worth approximately $25,000. CANADA LIFE ASSURANCE Co increased its stake in shares of Rocket Pharmaceuticals by 94.4% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 12,202 shares of the biotechnology company's stock valued at $29,000 after acquiring an additional 5,926 shares in the last quarter. Farther Finance Advisors LLC increased its stake in shares of Rocket Pharmaceuticals by 7,818.1% in the 2nd quarter. Farther Finance Advisors LLC now owns 13,540 shares of the biotechnology company's stock valued at $33,000 after acquiring an additional 13,369 shares in the last quarter. Corton Capital Inc. bought a new stake in shares of Rocket Pharmaceuticals in the 2nd quarter valued at $38,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Rocket Pharmaceuticals in the 2nd quarter valued at $43,000. Institutional investors and hedge funds 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.