Insider Selling: Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Insider Sells 1,224 Shares of Stock

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) insider John Militello sold 1,224 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $13.05, for a total value of $15,973.20. Following the transaction, the insider now owns 49,310 shares in the company, valued at approximately $643,495.50. This trade represents a 2.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Rocket Pharmaceuticals Trading Up 0.1 %

Shares of RCKT stock opened at $14.11 on Wednesday. The business has a 50-day moving average price of $17.05 and a two-hundred day moving average price of $19.76. Rocket Pharmaceuticals, Inc. has a 12-month low of $12.62 and a 12-month high of $32.53. The company has a quick ratio of 6.05, a current ratio of 6.05 and a debt-to-equity ratio of 0.06. The firm has a market cap of $1.29 billion, a P/E ratio of -5.13 and a beta of 1.09.

Institutional Trading of Rocket Pharmaceuticals

A number of hedge funds have recently bought and sold shares of RCKT. Price T Rowe Associates Inc. MD grew its position in Rocket Pharmaceuticals by 11.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,943,160 shares of the biotechnology company’s stock valued at $79,290,000 after acquiring an additional 314,086 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Rocket Pharmaceuticals by 174.3% during the 1st quarter. Janus Henderson Group PLC now owns 2,606,016 shares of the biotechnology company’s stock valued at $70,170,000 after purchasing an additional 1,656,111 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in Rocket Pharmaceuticals by 19.3% during the second quarter. Harbor Capital Advisors Inc. now owns 97,134 shares of the biotechnology company’s stock valued at $2,091,000 after buying an additional 15,708 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of Rocket Pharmaceuticals by 31.9% during the second quarter. Nisa Investment Advisors LLC now owns 3,160 shares of the biotechnology company’s stock valued at $68,000 after buying an additional 764 shares during the last quarter. Finally, EFG Asset Management North America Corp. increased its holdings in shares of Rocket Pharmaceuticals by 47.0% in the second quarter. EFG Asset Management North America Corp. now owns 222,046 shares of the biotechnology company’s stock worth $4,780,000 after buying an additional 71,044 shares during the period. Institutional investors own 98.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $65.00 price target on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th. Canaccord Genuity Group restated a “buy” rating and set a $39.00 price target on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. Needham & Company LLC reaffirmed a “buy” rating and issued a $52.00 price target on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th. JPMorgan Chase & Co. increased their price objective on Rocket Pharmaceuticals from $50.00 to $54.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. Finally, Leerink Partners lowered their target price on Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Rocket Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $51.00.

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.