Mark Andrew White Sells 3,026 Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Stock

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) insider Mark Andrew White sold 3,026 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $20.39, for a total transaction of $61,700.14. Following the completion of the sale, the insider now owns 72,220 shares of the company’s stock, valued at approximately $1,472,565.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Rocket Pharmaceuticals Price Performance

Rocket Pharmaceuticals stock opened at $21.96 on Friday. Rocket Pharmaceuticals, Inc. has a 12-month low of $14.89 and a 12-month high of $32.53. The stock has a market capitalization of $1.99 billion, a P/E ratio of -7.65 and a beta of 1.13. The firm’s 50-day moving average is $22.02 and its two-hundred day moving average is $25.53. The company has a debt-to-equity ratio of 0.04, a current ratio of 10.47 and a quick ratio of 10.47.

Rocket Pharmaceuticals (NASDAQ:RCKT) last released its quarterly earnings results on Monday, May 6th. The biotechnology company reported ($0.66) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.67) by $0.01. During the same quarter last year, the firm earned ($0.73) EPS. Equities analysts predict that Rocket Pharmaceuticals, Inc. will post -3 earnings per share for the current year.

Institutional Investors Weigh In On Rocket Pharmaceuticals

Several hedge funds have recently modified their holdings of RCKT. Tower Research Capital LLC TRC boosted its stake in shares of Rocket Pharmaceuticals by 105.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,557 shares of the biotechnology company’s stock worth $107,000 after purchasing an additional 1,829 shares during the last quarter. Old Well Partners LLC acquired a new stake in shares of Rocket Pharmaceuticals in the fourth quarter worth approximately $200,000. Capstone Investment Advisors LLC acquired a new stake in shares of Rocket Pharmaceuticals in the fourth quarter worth approximately $217,000. Amalgamated Bank boosted its position in shares of Rocket Pharmaceuticals by 5.4% in the fourth quarter. Amalgamated Bank now owns 8,653 shares of the biotechnology company’s stock worth $259,000 after acquiring an additional 440 shares during the last quarter. Finally, Harbour Capital Advisors LLC acquired a new stake in shares of Rocket Pharmaceuticals in the fourth quarter worth approximately $282,000. 98.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Canaccord Genuity Group cut their price target on shares of Rocket Pharmaceuticals from $49.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. The Goldman Sachs Group assumed coverage on shares of Rocket Pharmaceuticals in a report on Tuesday, April 2nd. They issued a “neutral” rating and a $39.00 price target for the company. Chardan Capital reiterated a “buy” rating and issued a $62.00 price target on shares of Rocket Pharmaceuticals in a report on Friday, June 28th. William Blair reiterated an “outperform” rating on shares of Rocket Pharmaceuticals in a report on Monday, June 3rd. Finally, Needham & Company LLC cut their price target on shares of Rocket Pharmaceuticals from $53.00 to $52.00 and set a “buy” rating for the company in a report on Friday, June 28th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $51.25.

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.