Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Director David P. Southwell Sells 70,000 Shares of Stock

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Director David P. Southwell sold 70,000 shares of the firm’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $24.36, for a total value of $1,705,200.00. Following the transaction, the director now owns 95,160 shares of the company’s stock, valued at $2,318,097.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Rocket Pharmaceuticals Stock Performance

RCKT stock opened at $23.68 on Thursday. The business has a 50 day moving average price of $27.45 and a 200 day moving average price of $25.27. Rocket Pharmaceuticals, Inc. has a fifty-two week low of $14.89 and a fifty-two week high of $32.53. The company has a debt-to-equity ratio of 0.04, a quick ratio of 7.80 and a current ratio of 7.80.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on RCKT shares. UBS Group decreased their price objective on Rocket Pharmaceuticals from $56.00 to $54.00 and set a “buy” rating for the company in a research note on Friday, March 1st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $65.00 price objective on shares of Rocket Pharmaceuticals in a research note on Tuesday, February 27th. Needham & Company LLC reiterated a “buy” rating and issued a $53.00 price objective on shares of Rocket Pharmaceuticals in a research note on Wednesday, April 10th. Lifesci Capital reiterated an “outperform” rating on shares of Rocket Pharmaceuticals in a research note on Tuesday, December 26th. Finally, JPMorgan Chase & Co. decreased their price objective on Rocket Pharmaceuticals from $55.00 to $50.00 and set an “overweight” rating for the company in a research note on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $52.13.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in RCKT. JPMorgan Chase & Co. increased its position in Rocket Pharmaceuticals by 22.6% during the first quarter. JPMorgan Chase & Co. now owns 837,915 shares of the biotechnology company’s stock worth $13,289,000 after buying an additional 154,739 shares during the period. HighTower Advisors LLC increased its position in Rocket Pharmaceuticals by 30.3% during the first quarter. HighTower Advisors LLC now owns 21,000 shares of the biotechnology company’s stock worth $336,000 after buying an additional 4,879 shares during the period. MetLife Investment Management LLC increased its position in Rocket Pharmaceuticals by 56.6% during the first quarter. MetLife Investment Management LLC now owns 22,975 shares of the biotechnology company’s stock worth $364,000 after buying an additional 8,301 shares during the period. Rhumbline Advisers increased its position in Rocket Pharmaceuticals by 3.7% during the first quarter. Rhumbline Advisers now owns 44,652 shares of the biotechnology company’s stock worth $708,000 after buying an additional 1,575 shares during the period. Finally, Synovus Financial Corp increased its position in Rocket Pharmaceuticals by 29.4% during the first quarter. Synovus Financial Corp now owns 82,236 shares of the biotechnology company’s stock worth $1,306,000 after buying an additional 18,663 shares during the period. Institutional investors and hedge funds 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.