David P. Southwell Sells 70,000 Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) 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 sale, the director now owns 95,160 shares in the company, valued at $2,318,097.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Rocket Pharmaceuticals Trading Down 2.4 %

Shares of RCKT opened at $23.68 on Thursday. The stock has a 50 day moving average of $27.45 and a 200-day moving average of $25.27. 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 52 week low of $14.89 and a 52 week high of $32.53.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisor Group Holdings Inc. boosted its position in Rocket Pharmaceuticals by 861.5% during the 4th quarter. Advisor Group Holdings Inc. now owns 1,923 shares of the biotechnology company’s stock valued at $38,000 after purchasing an additional 1,723 shares during the period. Steward Partners Investment Advisory LLC acquired a new position in Rocket Pharmaceuticals during the 4th quarter valued at approximately $39,000. China Universal Asset Management Co. Ltd. boosted its position in Rocket Pharmaceuticals by 96.2% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,068 shares of the biotechnology company’s stock valued at $42,000 after purchasing an additional 1,014 shares during the period. Wells Fargo & Company MN boosted its position in Rocket Pharmaceuticals by 63.9% during the 4th quarter. Wells Fargo & Company MN now owns 2,644 shares of the biotechnology company’s stock valued at $52,000 after purchasing an additional 1,031 shares during the period. Finally, Metropolitan Life Insurance Co NY boosted its position in Rocket Pharmaceuticals by 24.0% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 3,205 shares of the biotechnology company’s stock valued at $63,000 after purchasing an additional 621 shares during the period. Institutional investors and hedge funds own 98.39% of the company’s stock.

Analyst Ratings Changes

RCKT has been the topic of several analyst reports. StockNews.com upgraded Rocket Pharmaceuticals to a “sell” rating in a report on Friday, February 9th. JPMorgan Chase & Co. dropped their target price on Rocket Pharmaceuticals from $55.00 to $50.00 and set an “overweight” rating on the stock in a report on Tuesday, February 27th. Lifesci Capital restated an “outperform” rating on shares of Rocket Pharmaceuticals in a research note on Tuesday, December 26th. UBS Group lowered 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. Finally, The Goldman Sachs Group initiated coverage on Rocket Pharmaceuticals in a research note on Tuesday, April 2nd. They set a “neutral” rating and a $39.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $52.13.

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.