John Militello Sells 7,043 Shares of Rocket Pharmaceuticals, Inc. (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 business's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $3.02, for a total value of $21,269.86. Following the completion of the sale, the insider directly owned 56,984 shares of the company's stock, valued at $172,091.68. This represents a 11.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Rocket Pharmaceuticals Price Performance

NASDAQ RCKT traded down $0.02 during trading hours on Monday, reaching $3.03. 1,614,041 shares of the company's stock were exchanged, compared to its average volume of 3,323,091. The stock has a market cap of $326.94 million, a PE ratio of -1.21 and a beta of 0.65. Rocket Pharmaceuticals, Inc. has a one year low of $2.19 and a one year high of $22.01. The firm has a fifty day moving average of $2.96 and a 200-day moving average of $5.84. The company has a current ratio of 6.39, a quick ratio of 6.39 and a debt-to-equity ratio of 0.05.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The biotechnology company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.02). During the same period in the previous year, the business earned ($0.74) earnings per share. On average, equities research analysts predict that Rocket Pharmaceuticals, Inc. will post -2.83 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

RCKT has been the subject of a number of analyst reports. Bank of America reaffirmed a "neutral" rating and issued a $4.00 price target (down previously from $9.00) on shares of Rocket Pharmaceuticals in a research report on Friday, July 25th. UBS Group reduced their price target on Rocket Pharmaceuticals from $12.00 to $5.00 and set a "buy" rating for the company in a research report on Tuesday, June 17th. Cantor Fitzgerald reduced their price target on Rocket Pharmaceuticals from $10.00 to $8.00 and set an "overweight" rating for the company in a research report on Friday, August 8th. Wedbush reaffirmed an "outperform" rating and issued a $32.00 price target on shares of Rocket Pharmaceuticals in a research report on Friday, May 16th. Finally, JPMorgan Chase & Co. reissued a "neutral" rating on shares of Rocket Pharmaceuticals in a research report on Wednesday, May 28th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $16.33.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Envestnet Asset Management Inc. lifted its stake in shares of Rocket Pharmaceuticals by 4.1% in the 4th quarter. Envestnet Asset Management Inc. now owns 32,422 shares of the biotechnology company's stock valued at $408,000 after purchasing an additional 1,280 shares during the period. Virtus ETF Advisers LLC raised its stake in Rocket Pharmaceuticals by 40.4% during the 4th quarter. Virtus ETF Advisers LLC now owns 5,656 shares of the biotechnology company's stock worth $71,000 after buying an additional 1,628 shares during the period. Victory Capital Management Inc. raised its stake in Rocket Pharmaceuticals by 16.1% during the 1st quarter. Victory Capital Management Inc. now owns 11,929 shares of the biotechnology company's stock worth $80,000 after buying an additional 1,658 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Rocket Pharmaceuticals by 8.4% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 21,885 shares of the biotechnology company's stock worth $146,000 after buying an additional 1,689 shares during the period. Finally, China Universal Asset Management Co. Ltd. raised its stake in Rocket Pharmaceuticals by 10.7% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 21,388 shares of the biotechnology company's stock worth $143,000 after buying an additional 2,059 shares during the period. 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.

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