Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Insider Sells $308,788.48 in Stock

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Get Free Report) insider Mark Andrew White sold 12,532 shares of the stock in a transaction on Monday, April 8th. The stock was sold at an average price of $24.64, for a total value of $308,788.48. Following the completion of the transaction, the insider now owns 75,226 shares of the company's stock, valued at approximately $1,853,568.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Rocket Pharmaceuticals Price Performance

Shares of RCKT stock traded down $0.93 during mid-day trading on Wednesday, reaching $24.42. The stock had a trading volume of 856,332 shares, compared to its average volume of 721,299. Rocket Pharmaceuticals, Inc. has a 12-month low of $14.89 and a 12-month high of $32.53. The company has a market cap of $2.21 billion, a P/E ratio of -8.31 and a beta of 1.07. The business has a 50-day simple moving average of $27.91 and a 200 day simple moving average of $25.15. The company has a current ratio of 7.80, a quick ratio of 7.80 and a debt-to-equity ratio of 0.04.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last posted its quarterly earnings data on Monday, February 26th. The biotechnology company reported ($0.64) EPS for the quarter, beating analysts' consensus estimates of ($0.78) by $0.14. During the same period last year, the business posted ($0.92) EPS. On average, sell-side analysts anticipate that Rocket Pharmaceuticals, Inc. will post -2.94 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on RCKT. JPMorgan Chase & Co. cut their price objective on Rocket Pharmaceuticals from $55.00 to $50.00 and set an "overweight" rating for the company in a research report on Tuesday, February 27th. UBS Group cut 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. Lifesci Capital reiterated an "outperform" rating on shares of Rocket Pharmaceuticals in a research report on Tuesday, December 26th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $65.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday, February 27th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $53.00 price objective on shares of Rocket Pharmaceuticals in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $52.13.

Institutional Trading of Rocket Pharmaceuticals

A number of large investors have recently made changes to their positions in the stock. Wellington Management Group LLP boosted its stake in shares of Rocket Pharmaceuticals by 2.2% during the fourth quarter. Wellington Management Group LLP now owns 8,197,546 shares of the biotechnology company's stock valued at $245,680,000 after acquiring an additional 174,716 shares during the last quarter. Vanguard Group Inc. grew its holdings in Rocket Pharmaceuticals by 18.3% in the 4th quarter. Vanguard Group Inc. now owns 5,447,565 shares of the biotechnology company's stock valued at $163,264,000 after buying an additional 843,552 shares during the period. BlackRock Inc. grew its holdings in Rocket Pharmaceuticals by 12.2% in the 3rd quarter. BlackRock Inc. now owns 4,494,274 shares of the biotechnology company's stock valued at $71,727,000 after buying an additional 488,509 shares during the period. Westfield Capital Management Co. LP grew its holdings in Rocket Pharmaceuticals by 14.7% in the 3rd quarter. Westfield Capital Management Co. LP now owns 4,193,996 shares of the biotechnology company's stock valued at $85,935,000 after buying an additional 538,209 shares during the period. Finally, State Street Corp grew its holdings in Rocket Pharmaceuticals by 1.0% in the 1st quarter. State Street Corp now owns 4,019,686 shares of the biotechnology company's stock valued at $68,857,000 after buying an additional 40,701 shares during the period. Institutional investors and hedge funds own 98.39% of the company's stock.

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.

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