David P. Southwell Sells 70,000 Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Stock

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Director David P. Southwell sold 70,000 shares of the stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $24.36, for a total transaction of $1,705,200.00. Following the transaction, the director now owns 95,160 shares in the company, valued at $2,318,097.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Rocket Pharmaceuticals Trading Down 0.8 %

NASDAQ:RCKT opened at $23.48 on Friday. Rocket Pharmaceuticals, Inc. has a 12 month low of $14.89 and a 12 month high of $32.53. The firm has a fifty day simple moving average of $27.33 and a 200-day simple moving average of $25.26. The company has a current ratio of 7.80, a quick ratio of 7.80 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $2.12 billion, a P/E ratio of -7.99 and a beta of 1.07.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its quarterly earnings data 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 quarter last year, the company earned ($0.92) EPS. On average, equities research analysts anticipate that Rocket Pharmaceuticals, Inc. will post -2.94 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on RCKT shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $65.00 price objective on shares of Rocket Pharmaceuticals in a research note on Tuesday, February 27th. JPMorgan Chase & Co. cut their price target on shares of Rocket Pharmaceuticals from $55.00 to $50.00 and set an “overweight” rating on the stock in a report on Tuesday, February 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $53.00 price target on shares of Rocket Pharmaceuticals in a report on Wednesday, April 10th. Lifesci Capital reaffirmed an “outperform” rating on shares of Rocket Pharmaceuticals in a report on Tuesday, December 26th. Finally, StockNews.com raised shares of Rocket Pharmaceuticals to a “sell” rating in a report on Friday, February 9th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $52.13.

Institutional Investors Weigh In On Rocket Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Hennion & Walsh Asset Management Inc. lifted its stake in shares of Rocket Pharmaceuticals by 19.6% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 231,287 shares of the biotechnology company’s stock worth $6,231,000 after buying an additional 37,937 shares during the period. Harbour Capital Advisors LLC lifted its position 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 valued at $544,000 after purchasing an additional 11,330 shares during the period. Vanguard Group Inc. lifted its position in Rocket Pharmaceuticals by 18.3% during the fourth quarter. Vanguard Group Inc. now owns 5,447,565 shares of the biotechnology company’s stock valued at $163,264,000 after purchasing an additional 843,552 shares during the period. Wellington Management Group LLP lifted its position in 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 valued at $245,680,000 after purchasing an additional 174,716 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in Rocket Pharmaceuticals by 12.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 594,665 shares of the biotechnology company’s stock valued at $17,822,000 after purchasing an additional 64,946 shares during the period. 98.39% of the stock is currently owned by institutional investors and hedge funds.

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.