Rocket Pharmaceuticals (NASDAQ:RCKT) Insider John Militello Sells 28,918 Shares

Key Points

• Insider Selling: John Militello, an insider at Rocket Pharmaceuticals, sold 28,918 shares at an average price of $3.96, representing a 30.15% decrease in his ownership of the stock.
• Stock Performance: As of Thursday, shares of Rocket Pharmaceuticals traded at $4.00, with a market cap of $431.08 million and a price-to-earnings ratio of -1.59.
• Institutional Ownership: Approximately 98.39% of Rocket Pharmaceuticals' stock is owned by institutional investors, reflecting strong institutional interest in the company.

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Get Free Report) insider John Militello sold 28,918 shares of Rocket Pharmaceuticals stock in a transaction dated Tuesday, October 14th. The stock was sold at an average price of $3.96, for a total transaction of $114,515.28. Following the completion of the transaction, the insider directly owned 67,006 shares of the company's stock, valued at $265,343.76. This trade represents a 30.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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.
• On Thursday, August 14th, John Militello sold 7,043 shares of Rocket Pharmaceuticals stock. The shares were sold at an average price of $3.02, for a total transaction of $21,269.86.

Rocket Pharmaceuticals Stock Performance

Shares of RCKT traded down $0.25 during mid-day trading on Thursday, hitting $4.00. 2,413,540 shares of the company traded hands, compared to its average volume of 3,553,213. The stock has a 50-day moving average price of $3.28 and a two-hundred day moving average price of $4.09. 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 stock has a market cap of $431.08 million, a price-to-earnings ratio of -1.59 and a beta of 0.60. Rocket Pharmaceuticals, Inc. has a 1 year low of $2.19 and a 1 year high of $18.89.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RCKT. Prudential Financial Inc. bought a new position in Rocket Pharmaceuticals during the 2nd quarter worth about $25,000. CANADA LIFE ASSURANCE Co boosted its holdings 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 buying an additional 5,926 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings 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 buying 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 about $38,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Rocket Pharmaceuticals in the 2nd quarter valued at about $43,000. 98.39% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of Rocket Pharmaceuticals in a research note on Thursday, July 24th. Bank of America raised shares of Rocket Pharmaceuticals from a "neutral" rating to a "buy" rating and increased their target price for the company from $4.00 to $10.00 in a research note on Wednesday, August 20th. Canaccord Genuity Group reduced their target price on shares of Rocket Pharmaceuticals from $11.00 to $10.00 and set a "buy" rating on the stock in a research note on Friday, July 25th. Weiss Ratings reissued a "sell (e+)" rating on shares of Rocket Pharmaceuticals in a research note on Wednesday, October 8th. Finally, Chardan Capital reissued a "buy" rating and issued a $11.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday. Eight investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $16.67.

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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