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

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) insider John Militello sold 1,224 shares of Rocket Pharmaceuticals stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $13.05, for a total transaction of $15,973.20. Following the completion of the transaction, the insider now owns 49,310 shares of the company’s stock, valued at $643,495.50. This trade represents a 2.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Rocket Pharmaceuticals Stock Performance

Shares of RCKT stock opened at $14.20 on Thursday. Rocket Pharmaceuticals, Inc. has a 52-week low of $12.62 and a 52-week high of $32.53. The stock’s 50-day moving average price is $16.89 and its 200 day moving average price is $19.70. The company has a quick ratio of 6.05, a current ratio of 6.05 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $1.29 billion, a PE ratio of -5.13 and a beta of 1.09.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of RCKT. Wellington Management Group LLP lifted its holdings in shares of Rocket Pharmaceuticals by 22.8% during the third quarter. Wellington Management Group LLP now owns 11,242,144 shares of the biotechnology company’s stock worth $207,642,000 after purchasing an additional 2,086,424 shares during the period. Westfield Capital Management Co. LP lifted its stake in shares of Rocket Pharmaceuticals by 3.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 4,493,833 shares of the biotechnology company’s stock worth $83,001,000 after acquiring an additional 165,911 shares during the period. Maverick Capital Ltd. increased its stake in shares of Rocket Pharmaceuticals by 4.8% during the third quarter. Maverick Capital Ltd. now owns 4,118,672 shares of the biotechnology company’s stock worth $76,072,000 after acquiring an additional 190,360 shares during the period. State Street Corp lifted its position in Rocket Pharmaceuticals by 11.6% in the third quarter. State Street Corp now owns 3,102,022 shares of the biotechnology company’s stock valued at $57,294,000 after purchasing an additional 322,156 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Rocket Pharmaceuticals by 11.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,943,160 shares of the biotechnology company’s stock valued at $79,290,000 after buying an additional 314,086 shares during the period. Institutional investors and hedge funds own 98.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Chardan Capital reaffirmed a “buy” rating and set a $62.00 price objective on shares of Rocket Pharmaceuticals in a research report on Monday, November 18th. Needham & Company LLC reaffirmed a “buy” rating and issued a $52.00 target price on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th. Leerink Partners decreased their price objective on shares of Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating for the company in a research report on Tuesday, November 19th. Scotiabank started coverage on Rocket Pharmaceuticals in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $50.00 target price on the stock. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $39.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price 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.