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

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Director David P. Southwell sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $24.05, for a total value of $240,500.00. Following the sale, the director now owns 114,784 shares of the company’s stock, valued at $2,760,555.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Rocket Pharmaceuticals Price Performance

RCKT opened at $23.68 on Thursday. Rocket Pharmaceuticals, Inc. has a one year low of $14.89 and a one year high of $32.53. The business’s 50 day moving average price is $27.45 and its 200 day moving average price is $25.27. 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) last released 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 firm earned ($0.92) earnings per share. On average, research analysts forecast that Rocket Pharmaceuticals, Inc. will post -2.94 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on RCKT shares. The Goldman Sachs Group began coverage on Rocket Pharmaceuticals in a research note on Tuesday, April 2nd. They set a “neutral” rating and a $39.00 price objective for the company. Needham & Company LLC restated a “buy” rating and set a $53.00 target price on shares of Rocket Pharmaceuticals in a report on Wednesday, April 10th. StockNews.com upgraded Rocket Pharmaceuticals to a “sell” rating in a report on Friday, February 9th. Cantor Fitzgerald restated an “overweight” rating and set a $65.00 target price on shares of Rocket Pharmaceuticals in a report on Tuesday, February 27th. Finally, JPMorgan Chase & Co. lowered their target price on Rocket Pharmaceuticals from $55.00 to $50.00 and set an “overweight” rating on the stock in a report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $52.13.

Institutional Trading of Rocket Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. raised its position in Rocket Pharmaceuticals by 861.5% in the fourth quarter. Advisor Group Holdings Inc. now owns 1,923 shares of the biotechnology company’s stock valued at $38,000 after purchasing an additional 1,723 shares during the period. Steward Partners Investment Advisory LLC purchased a new stake in Rocket Pharmaceuticals in the fourth quarter valued at approximately $39,000. China Universal Asset Management Co. Ltd. raised its position 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 valued at $42,000 after purchasing an additional 1,014 shares during the period. Wells Fargo & Company MN raised its position in Rocket Pharmaceuticals by 63.9% in the fourth quarter. Wells Fargo & Company MN now owns 2,644 shares of the biotechnology company’s stock valued at $52,000 after purchasing an additional 1,031 shares during the period. Finally, Metropolitan Life Insurance Co NY raised its position in Rocket Pharmaceuticals by 24.0% in the fourth 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 period. Hedge funds and other institutional investors 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.