Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Insider John Militello Sells 833 Shares

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) insider John Militello sold 833 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $22.87, for a total value of $19,050.71. Following the completion of the transaction, the insider now owns 54,406 shares of the company’s stock, valued at $1,244,265.22. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Thursday, March 21st, John Militello sold 2,490 shares of Rocket Pharmaceuticals stock. The stock was sold at an average price of $28.10, for a total transaction of $69,969.00.
• On Thursday, February 29th, John Militello sold 10,000 shares of Rocket Pharmaceuticals stock. The shares were sold at an average price of $29.84, for a total transaction of $298,400.00.

Rocket Pharmaceuticals Price Performance

NASDAQ RCKT opened at $23.63 on Thursday. The company has a quick ratio of 7.80, a current ratio of 7.80 and a debt-to-equity ratio of 0.04. The firm’s fifty day moving average price is $26.97 and its two-hundred day moving average price is $25.44. Rocket Pharmaceuticals, Inc. has a 1 year low of $14.89 and a 1 year high of $32.53.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Amalgamated Bank lifted its holdings in Rocket Pharmaceuticals by 5.4% during the 4th quarter. Amalgamated Bank now owns 8,653 shares of the biotechnology company’s stock valued at $259,000 after purchasing an additional 440 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Rocket Pharmaceuticals by 14.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,145 shares of the biotechnology company’s stock worth $105,000 after purchasing an additional 633 shares during the period. Principal Financial Group Inc. lifted its holdings in Rocket Pharmaceuticals by 3.8% during the 4th quarter. Principal Financial Group Inc. now owns 17,963 shares of the biotechnology company’s stock worth $538,000 after purchasing an additional 661 shares during the last quarter. Torray Investment Partners LLC boosted its stake in Rocket Pharmaceuticals by 1.1% in the 4th quarter. Torray Investment Partners LLC now owns 60,856 shares of the biotechnology company’s stock valued at $1,824,000 after purchasing an additional 679 shares during the period. Finally, Teacher Retirement System of Texas boosted its stake in Rocket Pharmaceuticals by 5.8% in the 3rd quarter. Teacher Retirement System of Texas now owns 15,955 shares of the biotechnology company’s stock valued at $327,000 after purchasing an additional 875 shares during the period. 98.39% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on RCKT. The Goldman Sachs Group initiated coverage on shares of Rocket Pharmaceuticals in a research report on Tuesday, April 2nd. They issued a “neutral” rating and a $39.00 price objective on the stock. UBS Group cut their price objective on shares of Rocket Pharmaceuticals from $56.00 to $54.00 and set a “buy” rating on the stock in a research report on Friday, March 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $65.00 target price on shares of Rocket Pharmaceuticals in a research report on Tuesday, February 27th. Needham & Company LLC reiterated a “buy” rating and issued a $53.00 price target on shares of Rocket Pharmaceuticals in a research note on Wednesday, April 10th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of 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 equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Rocket Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $52.13.

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.