Insider Selling: Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Director Sells $7,789,820.00 in Stock

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Director Gotham Makker sold 274,000 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $28.43, for a total transaction of $7,789,820.00. Following the sale, the director now owns 365,912 shares of the company’s stock, valued at approximately $10,402,878.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Rocket Pharmaceuticals Price Performance

RCKT stock opened at $27.25 on Thursday. The firm has a 50 day moving average of $28.40 and a 200-day moving average of $24.82. The company has a current ratio of 7.80, a quick ratio of 7.80 and a debt-to-equity ratio of 0.04. Rocket Pharmaceuticals, Inc. has a 12 month low of $14.89 and a 12 month high of $32.53. The firm has a market capitalization of $2.47 billion, a P/E ratio of -9.27 and a beta of 1.08.

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

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. UBS Group decreased their price objective on shares of Rocket Pharmaceuticals from $56.00 to $54.00 and set a “buy” rating for the company in a report on Friday, March 1st. JPMorgan Chase & Co. reduced their target price 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. Cantor Fitzgerald reiterated an “overweight” rating and issued a $65.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday, February 27th. Lifesci Capital reiterated an “outperform” rating on shares of Rocket Pharmaceuticals in a research note on Tuesday, December 26th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $53.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $54.00.

Institutional Investors Weigh In On Rocket Pharmaceuticals

Several hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP lifted its position 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 valued at $245,680,000 after purchasing an additional 174,716 shares during the last quarter. Vanguard Group Inc. lifted its position 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 valued at $163,264,000 after purchasing an additional 843,552 shares during the last quarter. BlackRock Inc. lifted its position in Rocket Pharmaceuticals by 12.2% during the third quarter. BlackRock Inc. now owns 4,494,274 shares of the biotechnology company’s stock valued at $71,727,000 after purchasing an additional 488,509 shares during the last quarter. Westfield Capital Management Co. LP lifted its holdings in shares of Rocket Pharmaceuticals by 14.7% in the 3rd quarter. Westfield Capital Management Co. LP now owns 4,193,996 shares of the biotechnology company’s stock worth $85,935,000 after acquiring an additional 538,209 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of Rocket Pharmaceuticals by 1.0% in the 1st quarter. State Street Corp now owns 4,019,686 shares of the biotechnology company’s stock worth $68,857,000 after acquiring an additional 40,701 shares during the last quarter. 98.39% of the stock is currently owned by institutional investors.

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.