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

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Director David P. Southwell sold 10,000 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $24.05, for a total value of $240,500.00. Following the transaction, the director now owns 114,784 shares of the company’s stock, valued at $2,760,555.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Rocket Pharmaceuticals Trading Down 2.3 %

Rocket Pharmaceuticals stock traded down $0.56 during mid-day trading on Wednesday, hitting $23.69. The stock had a trading volume of 297,416 shares, compared to its average volume of 712,369. The stock has a 50-day simple moving average of $27.55 and a two-hundred day simple moving average of $25.28. The stock has a market capitalization of $2.14 billion, a PE ratio of -8.06 and a beta of 1.07. Rocket Pharmaceuticals, Inc. has a 12 month low of $14.89 and a 12 month high of $32.53. 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) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.14. During the same period in the prior year, the firm posted ($0.92) EPS. As a group, sell-side analysts forecast that Rocket Pharmaceuticals, Inc. will post -2.94 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. UBS Group decreased their target price on Rocket Pharmaceuticals from $56.00 to $54.00 and set a “buy” rating on the stock in a report on Friday, March 1st. Cantor Fitzgerald restated an “overweight” rating and set a $65.00 target price on shares of Rocket Pharmaceuticals in a report on Tuesday, February 27th. The Goldman Sachs Group assumed coverage on Rocket Pharmaceuticals in a report on Tuesday, April 2nd. They set a “neutral” rating and a $39.00 target price on the stock. JPMorgan Chase & Co. decreased 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. 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 issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $52.13.

Hedge Funds Weigh In On Rocket Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Harbour Capital Advisors LLC boosted its holdings in Rocket Pharmaceuticals by 115.3% during the first quarter. Harbour Capital Advisors LLC now owns 21,155 shares of the biotechnology company’s stock worth $544,000 after buying an additional 11,330 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Rocket Pharmaceuticals by 18.3% during the fourth quarter. Vanguard Group Inc. now owns 5,447,565 shares of the biotechnology company’s stock worth $163,264,000 after purchasing an additional 843,552 shares during the period. Wellington Management Group LLP raised its position in shares of Rocket Pharmaceuticals by 2.2% during the fourth quarter. Wellington Management Group LLP now owns 8,197,546 shares of the biotechnology company’s stock worth $245,680,000 after purchasing an additional 174,716 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Rocket Pharmaceuticals by 12.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 594,665 shares of the biotechnology company’s stock worth $17,822,000 after purchasing an additional 64,946 shares during the period. Finally, American International Group Inc. raised its position in shares of Rocket Pharmaceuticals by 11.4% during the fourth quarter. American International Group Inc. now owns 31,184 shares of the biotechnology company’s stock worth $935,000 after purchasing an additional 3,184 shares during the period. Institutional investors own 98.39% of the company’s stock.

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.