Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Insider John Militello Sells 1,224 Shares

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

Rocket Pharmaceuticals Stock Down 0.1 %

Shares of Rocket Pharmaceuticals stock traded down $0.01 during trading on Monday, hitting $14.10. 1,205,582 shares of the stock were exchanged, compared to its average volume of 796,581. The firm’s 50-day moving average price is $17.15 and its 200 day moving average price is $19.83. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of -5.13 and a beta of 1.09. Rocket Pharmaceuticals, Inc. has a 12-month low of $12.62 and a 12-month high of $32.53. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.05 and a quick ratio of 6.05.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Rocket Pharmaceuticals by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,292 shares of the biotechnology company’s stock valued at $61,000 after purchasing an additional 582 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Rocket Pharmaceuticals by 31.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,160 shares of the biotechnology company’s stock worth $68,000 after purchasing an additional 764 shares in the last quarter. Values First Advisors Inc. bought a new stake in Rocket Pharmaceuticals during the 3rd quarter worth about $108,000. SG Americas Securities LLC acquired a new stake in shares of Rocket Pharmaceuticals in the 3rd quarter valued at $113,000. Finally, XTX Topco Ltd bought a new stake in shares of Rocket Pharmaceuticals during the 3rd quarter valued at $286,000. Institutional investors and hedge funds own 98.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Scotiabank assumed coverage on Rocket Pharmaceuticals in a research note on Wednesday, October 16th. They issued a “sector outperform” rating and a $50.00 price objective for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $65.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. Canaccord Genuity Group reissued a “buy” rating and set a $39.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. Chardan Capital reaffirmed a “buy” rating and set a $62.00 target price on shares of Rocket Pharmaceuticals in a research report on Monday, November 18th. Finally, Leerink Partners dropped their target price on shares of Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating on the stock in a report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.00.

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.