Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Insider John Militello Sells 2,490 Shares

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) insider John Militello sold 2,490 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $28.10, for a total value of $69,969.00. Following the sale, the insider now owns 55,239 shares of the company’s stock, valued at $1,552,215.90. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

John Militello also recently made the following trade(s):

• On Thursday, February 29th, John Militello sold 10,000 shares of Rocket Pharmaceuticals stock. The stock was sold at an average price of $29.84, for a total value of $298,400.00.
• On Monday, January 22nd, John Militello sold 638 shares of Rocket Pharmaceuticals stock. The stock was sold at an average price of $27.20, for a total value of $17,353.60.

Rocket Pharmaceuticals Trading Up 2.6 %

Shares of RCKT stock opened at $27.25 on Thursday. The stock has a 50-day moving average of $28.40 and a 200-day moving average of $24.82. The company has a debt-to-equity ratio of 0.04, a current ratio of 7.80 and a quick ratio of 7.80. Rocket Pharmaceuticals, Inc. has a 1-year low of $14.89 and a 1-year high of $32.53.

Rocket Pharmaceuticals (NASDAQ:RCKT) last issued its quarterly earnings results on Monday, February 26th. The biotechnology company reported ($0.64) earnings per share for the quarter, beating the consensus estimate of ($0.78) by $0.14. During the same period last year, the firm posted ($0.92) earnings per share. As a group, analysts expect that Rocket Pharmaceuticals, Inc. will post -2.94 earnings per share for the current year.

Institutional Investors Weigh In On Rocket Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP grew its stake in Rocket Pharmaceuticals by 2.2% during the fourth quarter. Wellington Management Group LLP now owns 8,197,546 shares of the biotechnology company’s stock worth $245,680,000 after purchasing an additional 174,716 shares during the period. Vanguard Group Inc. grew its stake in Rocket Pharmaceuticals by 18.3% during the fourth quarter. Vanguard Group Inc. now owns 5,447,565 shares of the biotechnology company’s stock worth $163,264,000 after purchasing an additional 843,552 shares during the period. BlackRock Inc. grew its stake in Rocket Pharmaceuticals by 12.2% during the third quarter. BlackRock Inc. now owns 4,494,274 shares of the biotechnology company’s stock worth $71,727,000 after purchasing an additional 488,509 shares during the period. Westfield Capital Management Co. LP grew its stake in Rocket Pharmaceuticals by 14.7% during the third quarter. Westfield Capital Management Co. LP now owns 4,193,996 shares of the biotechnology company’s stock worth $85,935,000 after purchasing an additional 538,209 shares during the period. Finally, State Street Corp grew its stake in Rocket Pharmaceuticals by 1.0% during the first quarter. State Street Corp now owns 4,019,686 shares of the biotechnology company’s stock worth $68,857,000 after purchasing an additional 40,701 shares during the period. Institutional investors and hedge funds own 98.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on RCKT shares. JPMorgan Chase & Co. dropped their target price on Rocket Pharmaceuticals from $55.00 to $50.00 and set an “overweight” rating for the company in a research report on Tuesday, February 27th. Lifesci Capital reiterated an “outperform” rating on shares of Rocket Pharmaceuticals in a research report on Tuesday, December 26th. Needham & Company LLC reiterated a “buy” rating and issued a $53.00 target price on shares of Rocket Pharmaceuticals in a research report on Tuesday, February 13th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $65.00 target price on shares of Rocket Pharmaceuticals in a research report on Tuesday, February 27th. Finally, StockNews.com upgraded Rocket Pharmaceuticals to a “sell” rating in a research report on Friday, February 9th. One research analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $54.00.

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.