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

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) insider John Militello sold 1,224 shares of Rocket Pharmaceuticals stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $13.05, for a total transaction of $15,973.20. Following the completion of the transaction, the insider now directly owns 49,310 shares of the company’s stock, valued at approximately $643,495.50. This trade represents a 2.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Rocket Pharmaceuticals Trading Up 0.1 %

Shares of RCKT stock opened at $14.11 on Wednesday. Rocket Pharmaceuticals, Inc. has a twelve month low of $12.62 and a twelve month high of $32.53. The stock’s fifty day simple moving average is $17.05 and its 200 day simple moving average is $19.76. The company has a quick ratio of 6.05, a current ratio of 6.05 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $1.29 billion, a P/E ratio of -5.13 and a beta of 1.09.

Analysts Set New Price Targets

Several research analysts have weighed in on RCKT shares. Needham & Company LLC reissued a “buy” rating and issued a $52.00 price target on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th. Scotiabank started coverage on Rocket Pharmaceuticals in a research note on Wednesday, October 16th. They set a “sector outperform” rating and a $50.00 target price on the stock. JPMorgan Chase & Co. boosted their price target on Rocket Pharmaceuticals from $50.00 to $54.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Leerink Partners lowered their price objective on Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 19th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $39.00 target price on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Rocket Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.00.

Institutional Trading of Rocket Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Rocket Pharmaceuticals by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,292 shares of the biotechnology company’s stock valued at $61,000 after purchasing an additional 582 shares during the period. Nisa Investment Advisors LLC increased its holdings in Rocket Pharmaceuticals by 31.9% in the second quarter. Nisa Investment Advisors LLC now owns 3,160 shares of the biotechnology company’s stock worth $68,000 after purchasing an additional 764 shares in the last quarter. Values First Advisors Inc. acquired a new position in Rocket Pharmaceuticals in the third quarter valued at approximately $108,000. SG Americas Securities LLC bought a new position in shares of Rocket Pharmaceuticals during the 3rd quarter worth approximately $113,000. Finally, XTX Topco Ltd acquired a new stake in shares of Rocket Pharmaceuticals during the 3rd quarter worth approximately $286,000. 98.39% of the stock is currently owned by institutional investors.

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.