David P. Southwell Sells 10,000 Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Stock

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Get Free Report) Director David P. Southwell sold 10,000 shares of the business's stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $24.05, for a total transaction of $240,500.00. Following the completion of the transaction, the director now owns 114,784 shares in the company, valued at $2,760,555.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Rocket Pharmaceuticals Stock Down 2.4 %

RCKT traded down $0.57 during trading hours on Wednesday, hitting $23.68. 640,566 shares of the company's stock were exchanged, compared to its average volume of 717,385. The firm has a market cap of $2.14 billion, a P/E ratio of -8.06 and a beta of 1.07. Rocket Pharmaceuticals, Inc. has a 12-month low of $14.89 and a 12-month high of $32.53. The company has a current ratio of 7.80, a quick ratio of 7.80 and a debt-to-equity ratio of 0.04. The firm has a 50 day moving average of $27.55 and a 200 day moving average of $25.28.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last posted its quarterly earnings results on Monday, February 26th. The biotechnology company reported ($0.64) EPS for the quarter, topping the consensus estimate of ($0.78) by $0.14. During the same quarter last year, the company posted ($0.92) earnings per share. Analysts predict that Rocket Pharmaceuticals, Inc. will post -2.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of RCKT. Advisor Group Holdings Inc. boosted its stake in shares of Rocket Pharmaceuticals by 861.5% in the 4th quarter. Advisor Group Holdings Inc. now owns 1,923 shares of the biotechnology company's stock valued at $38,000 after buying an additional 1,723 shares during the period. Steward Partners Investment Advisory LLC acquired a new stake in Rocket Pharmaceuticals in the fourth quarter valued at approximately $39,000. China Universal Asset Management Co. Ltd. lifted its stake in 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 last quarter. Wells Fargo & Company MN grew its holdings in Rocket Pharmaceuticals by 63.9% during the 4th quarter. Wells Fargo & Company MN now owns 2,644 shares of the biotechnology company's stock worth $52,000 after acquiring an additional 1,031 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY increased its position in shares of Rocket Pharmaceuticals by 24.0% in 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 last quarter. 98.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. UBS Group cut their target price on Rocket Pharmaceuticals from $56.00 to $54.00 and set a "buy" rating for the company in a research note on Friday, March 1st. JPMorgan Chase & Co. reduced their price objective on shares of Rocket Pharmaceuticals from $55.00 to $50.00 and set an "overweight" rating on the stock in a report on Tuesday, February 27th. Needham & Company LLC reaffirmed a "buy" rating and set a $53.00 target price on shares of Rocket Pharmaceuticals in a research note on Wednesday, April 10th. Cantor Fitzgerald reissued an "overweight" rating and issued a $65.00 price target on shares of Rocket Pharmaceuticals in a research note on Tuesday, February 27th. Finally, The Goldman Sachs Group initiated coverage on shares of Rocket Pharmaceuticals in a research report on Tuesday, April 2nd. They set a "neutral" rating and a $39.00 price objective for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price 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.