David P. Southwell Sells 10,000 Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Stock

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Director David P. Southwell sold 10,000 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $24.05, for a total transaction of $240,500.00. Following the transaction, the director now directly owns 114,784 shares in the company, valued at $2,760,555.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Rocket Pharmaceuticals Trading Down 2.3 %

Rocket Pharmaceuticals stock traded down $0.56 during trading on Wednesday, reaching $23.69. The company had a trading volume of 297,416 shares, compared to its average volume of 712,369. Rocket Pharmaceuticals, Inc. has a 12-month low of $14.89 and a 12-month high of $32.53. The company has a debt-to-equity ratio of 0.04, a quick ratio of 7.80 and a current ratio of 7.80. The stock’s 50 day moving average price is $27.55 and its two-hundred day moving average price is $25.28. The firm has a market capitalization of $2.14 billion, a price-to-earnings ratio of -8.06 and a beta of 1.07.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its quarterly earnings data 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 previous year, the firm earned ($0.92) EPS. As a group, equities analysts expect that Rocket Pharmaceuticals, Inc. will post -2.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on RCKT. UBS Group reduced their target price on shares of Rocket Pharmaceuticals from $56.00 to $54.00 and set a “buy” rating for the company in a research note on Friday, March 1st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $65.00 price objective on shares of Rocket Pharmaceuticals in a research note on Tuesday, February 27th. Needham & Company LLC reiterated a “buy” rating and issued a $53.00 price objective on shares of Rocket Pharmaceuticals in a research note on Wednesday, April 10th. Lifesci Capital restated an “outperform” rating on shares of Rocket Pharmaceuticals in a research report on Tuesday, December 26th. Finally, StockNews.com upgraded shares of Rocket Pharmaceuticals to a “sell” rating in a research report on Friday, February 9th. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $52.13.

Hedge Funds Weigh In On Rocket Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of RCKT. Amalgamated Bank increased its position in Rocket Pharmaceuticals by 5.4% during the 4th quarter. Amalgamated Bank now owns 8,653 shares of the biotechnology company’s stock worth $259,000 after purchasing an additional 440 shares in the last quarter. Gilder Gagnon Howe & Co. LLC boosted its holdings in Rocket Pharmaceuticals by 2.5% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 19,379 shares of the biotechnology company’s stock worth $581,000 after purchasing an additional 475 shares during the period. Metropolitan Life Insurance Co NY boosted its holdings in Rocket Pharmaceuticals by 24.0% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 3,205 shares of the biotechnology company’s stock worth $63,000 after purchasing an additional 621 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Rocket Pharmaceuticals by 14.0% in 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. Finally, Principal Financial Group Inc. boosted its holdings in Rocket Pharmaceuticals by 3.8% in the fourth 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 period. 98.39% of the stock is owned by institutional investors and hedge funds.

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.