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

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

Rocket Pharmaceuticals Price Performance

Shares of NASDAQ:RCKT opened at $14.10 on Tuesday. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of -5.13 and a beta of 1.09. The firm has a fifty day moving average price of $17.15 and a 200 day moving average price of $19.83. Rocket Pharmaceuticals, Inc. has a fifty-two week low of $12.62 and a fifty-two week high of $32.53. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.05 and a current ratio of 6.05.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Rocket Pharmaceuticals by 21.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,292 shares of the biotechnology company’s stock worth $61,000 after purchasing an additional 582 shares during the last quarter. Dana Investment Advisors Inc. grew its holdings in Rocket Pharmaceuticals by 4.4% during the 2nd quarter. Dana Investment Advisors Inc. now owns 13,847 shares of the biotechnology company’s stock valued at $298,000 after buying an additional 586 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in Rocket Pharmaceuticals by 31.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,160 shares of the biotechnology company’s stock worth $68,000 after acquiring an additional 764 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Rocket Pharmaceuticals by 1.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 119,633 shares of the biotechnology company’s stock worth $2,210,000 after acquiring an additional 1,561 shares in the last quarter. Finally, Pier 88 Investment Partners LLC boosted its position in shares of Rocket Pharmaceuticals by 5.1% during the 3rd quarter. Pier 88 Investment Partners LLC now owns 32,490 shares of the biotechnology company’s stock valued at $600,000 after acquiring an additional 1,590 shares during the last quarter. Institutional investors own 98.39% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $39.00 price objective on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. Needham & Company LLC restated a “buy” rating and set a $52.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $65.00 price target on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. Chardan Capital restated a “buy” rating and set a $62.00 price objective on shares of Rocket Pharmaceuticals in a research report on Monday, November 18th. Finally, Leerink Partners dropped their target price on shares of Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating for the company in a report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.