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

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

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

• On Thursday, March 21st, John Militello sold 2,490 shares of Rocket Pharmaceuticals stock. The shares were 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 Stock Performance

RCKT stock traded down $0.04 during midday trading on Wednesday, hitting $23.63. The stock had a trading volume of 918,654 shares, compared to its average volume of 715,685. The firm has a market capitalization of $2.14 billion, a price-to-earnings ratio of -8.04 and a beta of 1.07. Rocket Pharmaceuticals, Inc. has a 52 week low of $14.89 and a 52 week high of $32.53. The stock has a 50-day simple moving average of $26.97 and a 200 day simple moving average of $25.44. 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 (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 in the prior year, the firm earned ($0.92) earnings per share. As a group, equities research analysts anticipate that Rocket Pharmaceuticals, Inc. will post -2.94 earnings per share for the current year.

Institutional Trading of Rocket Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. increased its stake in shares of Rocket Pharmaceuticals by 96.2% in the third quarter. China Universal Asset Management Co. Ltd. now owns 2,068 shares of the biotechnology company’s stock valued at $42,000 after buying an additional 1,014 shares in the last quarter. Annandale Capital LLC acquired a new position in shares of Rocket Pharmaceuticals during the 3rd quarter worth about $66,000. Tower Research Capital LLC TRC grew its position in shares of Rocket Pharmaceuticals by 105.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,557 shares of the biotechnology company’s stock worth $107,000 after buying an additional 1,829 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Rocket Pharmaceuticals by 14.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,145 shares of the biotechnology company’s stock worth $105,000 after buying an additional 633 shares during the period. Finally, Old Well Partners LLC acquired a new position in shares of Rocket Pharmaceuticals during the 4th quarter worth about $200,000. 98.39% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on RCKT shares. Lifesci Capital reissued an “outperform” rating on shares of Rocket Pharmaceuticals in a research report on Tuesday, December 26th. JPMorgan Chase & Co. reduced their price target on shares of Rocket Pharmaceuticals from $55.00 to $50.00 and set an “overweight” rating for the company in a research report on Tuesday, February 27th. UBS Group dropped their price objective on Rocket Pharmaceuticals from $56.00 to $54.00 and set a “buy” rating on the stock in a report on Friday, March 1st. Needham & Company LLC restated a “buy” rating and issued a $53.00 price objective on shares of Rocket Pharmaceuticals in a report on Wednesday, April 10th. Finally, StockNews.com upgraded Rocket Pharmaceuticals to a “sell” rating in a report on Friday, February 9th. One 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target 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.