Rocket Pharmaceuticals (NASDAQ:RCKT) Insider Jonathan David Schwartz Sells 11,161 Shares

Key Points

• Jonathan David Schwartz, an insider at Rocket Pharmaceuticals, sold 11,161 shares at an average price of $3.02, totaling $33,706.22, resulting in a 4.74% decrease in ownership.
• The company reported a loss of ($0.59) EPS for the latest quarter, missing analysts' estimates, and is projected to post -2.83 EPS for the current year.
• Several firms have recently reduced their price targets for Rocket Pharmaceuticals, with BMO Capital Markets setting a new target of $8.00 and maintaining an “outperform” rating.

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Get Free Report) insider Jonathan David Schwartz sold 11,161 shares of the stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $3.02, for a total transaction of $33,706.22. Following the sale, the insider owned 224,094 shares in the company, valued at approximately $676,763.88. This trade represents a 4.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Jonathan David Schwartz also recently made the following trade(s):

• On Tuesday, August 19th, Jonathan David Schwartz sold 805 shares of Rocket Pharmaceuticals stock. The stock was sold at an average price of $3.00, for a total transaction of $2,415.00.
• On Monday, August 18th, Jonathan David Schwartz sold 1,680 shares of Rocket Pharmaceuticals stock. The stock was sold at an average price of $3.06, for a total transaction of $5,140.80.

Rocket Pharmaceuticals Stock Performance

RCKT traded down $0.09 on Friday, hitting $3.64. 7,407,579 shares of the company's stock were exchanged, compared to its average volume of 5,509,566. The firm has a market cap of $392.76 million, a PE ratio of -1.45 and a beta of 0.65. Rocket Pharmaceuticals, Inc. has a twelve month low of $2.19 and a twelve month high of $22.01. The stock has a fifty day moving average of $2.99 and a two-hundred day moving average of $5.62. 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 released its quarterly earnings data on Thursday, August 7th. The biotechnology company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of ($0.57) by ($0.02). During the same period in the previous year, the business posted ($0.74) EPS. On average, research analysts anticipate that Rocket Pharmaceuticals, Inc. will post -2.83 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Envestnet Asset Management Inc. increased its stake in shares of Rocket Pharmaceuticals by 4.1% during the fourth quarter. Envestnet Asset Management Inc. now owns 32,422 shares of the biotechnology company's stock valued at $408,000 after acquiring an additional 1,280 shares during the period. Virtus ETF Advisers LLC increased its stake in shares of Rocket Pharmaceuticals by 40.4% during the fourth quarter. Virtus ETF Advisers LLC now owns 5,656 shares of the biotechnology company's stock valued at $71,000 after acquiring an additional 1,628 shares during the period. Victory Capital Management Inc. increased its stake in shares of Rocket Pharmaceuticals by 16.1% during the first quarter. Victory Capital Management Inc. now owns 11,929 shares of the biotechnology company's stock valued at $80,000 after acquiring an additional 1,658 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Rocket Pharmaceuticals by 8.4% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 21,885 shares of the biotechnology company's stock valued at $146,000 after acquiring an additional 1,689 shares during the period. Finally, China Universal Asset Management Co. Ltd. increased its stake in shares of Rocket Pharmaceuticals by 10.7% during the first quarter. China Universal Asset Management Co. Ltd. now owns 21,388 shares of the biotechnology company's stock valued at $143,000 after acquiring an additional 2,059 shares during the period. Institutional investors and hedge funds own 98.39% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Needham & Company LLC restated a "hold" rating on shares of Rocket Pharmaceuticals in a research note on Thursday, July 24th. TD Cowen restated a "hold" rating on shares of Rocket Pharmaceuticals in a research note on Tuesday, May 27th. JPMorgan Chase & Co. restated a "neutral" rating on shares of Rocket Pharmaceuticals in a research note on Wednesday, May 28th. Scotiabank dropped their price target on shares of Rocket Pharmaceuticals from $51.00 to $19.00 and set a "sector outperform" rating on the stock in a research note on Wednesday, May 28th. Finally, Leerink Partnrs lowered shares of Rocket Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 27th. Eight equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Rocket Pharmaceuticals currently has a consensus rating of "Hold" and an average price target of $16.73.

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.