Insider Selling: Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Insider Sells $61,700.14 in Stock

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) insider Mark Andrew White sold 3,026 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $20.39, for a total transaction of $61,700.14. Following the transaction, the insider now directly owns 72,220 shares of the company’s stock, valued at approximately $1,472,565.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Rocket Pharmaceuticals Stock Up 2.9 %

RCKT stock opened at $21.96 on Friday. The stock has a market capitalization of $1.99 billion, a P/E ratio of -7.65 and a beta of 1.13. The firm has a 50-day simple moving average of $22.02 and a 200-day simple moving average of $25.53. The company has a quick ratio of 10.47, a current ratio of 10.47 and a debt-to-equity ratio of 0.04. Rocket Pharmaceuticals, Inc. has a 52 week low of $14.89 and a 52 week high of $32.53.

Rocket Pharmaceuticals (NASDAQ:RCKT) last released its earnings results on Monday, May 6th. The biotechnology company reported ($0.66) EPS for the quarter, topping analysts’ consensus estimates of ($0.67) by $0.01. During the same quarter in the previous year, the firm posted ($0.73) EPS. Equities analysts forecast that Rocket Pharmaceuticals, Inc. will post -3 earnings per share for the current fiscal year.

Analyst Ratings Changes

RCKT has been the subject of a number of recent analyst reports. Canaccord Genuity Group cut their price objective on shares of Rocket Pharmaceuticals from $49.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. William Blair reaffirmed an “outperform” rating on shares of Rocket Pharmaceuticals in a report on Monday, June 3rd. Chardan Capital reaffirmed a “buy” rating and issued a $62.00 price objective on shares of Rocket Pharmaceuticals in a report on Friday, June 28th. The Goldman Sachs Group initiated coverage on shares of Rocket Pharmaceuticals in a report on Tuesday, April 2nd. They issued a “neutral” rating and a $39.00 price objective for the company. Finally, Needham & Company LLC cut their price objective on shares of Rocket Pharmaceuticals from $53.00 to $52.00 and set a “buy” rating for the company in a report on Friday, June 28th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $51.25.

Hedge Funds Weigh In On Rocket Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. boosted its position in Rocket Pharmaceuticals by 12.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 594,665 shares of the biotechnology company’s stock worth $17,822,000 after acquiring an additional 64,946 shares during the last quarter. Comerica Bank acquired a new position in Rocket Pharmaceuticals during the third quarter worth about $9,017,000. Franklin Resources Inc. boosted its position in Rocket Pharmaceuticals by 60.8% during the fourth quarter. Franklin Resources Inc. now owns 1,072,910 shares of the biotechnology company’s stock worth $32,155,000 after acquiring an additional 405,855 shares during the last quarter. Avidity Partners Management LP boosted its position in Rocket Pharmaceuticals by 8.3% during the fourth quarter. Avidity Partners Management LP now owns 1,719,103 shares of the biotechnology company’s stock worth $51,522,000 after acquiring an additional 131,674 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in Rocket Pharmaceuticals during the fourth quarter worth about $332,000. 98.39% of the stock is currently owned by institutional investors and hedge funds.

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.