John Militello Sells 3,726 Shares of Rocket Pharmaceuticals (NASDAQ:RCKT) Stock

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) insider John Militello sold 3,726 shares of Rocket Pharmaceuticals stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $3.31, for a total value of $12,333.06. Following the sale, the insider directly owned 92,176 shares in the company, valued at approximately $305,102.56. This trade represents a 3.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Rocket Pharmaceuticals Stock Down 1.1%

RCKT opened at $3.70 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 7.30 and a quick ratio of 7.30. Rocket Pharmaceuticals, Inc. has a 12 month low of $2.19 and a 12 month high of $11.08. The stock’s 50 day moving average price is $3.50 and its 200 day moving average price is $3.39. The stock has a market cap of $400.41 million, a P/E ratio of -1.63 and a beta of 0.48.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on RCKT. Wedbush reiterated an “outperform” rating and issued a $16.00 price objective on shares of Rocket Pharmaceuticals in a report on Friday, November 7th. JPMorgan Chase & Co. cut Rocket Pharmaceuticals from a “neutral” rating to an “underweight” rating in a report on Tuesday, November 18th. Morgan Stanley set a $5.00 price target on shares of Rocket Pharmaceuticals in a report on Thursday, January 8th. TD Cowen raised Rocket Pharmaceuticals to a “hold” rating in a research note on Friday, December 19th. Finally, Bank of America dropped their price objective on Rocket Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday, November 18th. Eight research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $14.36.

Institutional Trading of Rocket Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC grew its stake in shares of Rocket Pharmaceuticals by 148.4% in the 1st quarter. AQR Capital Management LLC now owns 163,622 shares of the biotechnology company’s stock valued at $1,091,000 after purchasing an additional 97,758 shares during the period. Millennium Management LLC lifted its holdings in shares of Rocket Pharmaceuticals by 121.8% during the first quarter. Millennium Management LLC now owns 747,147 shares of the biotechnology company’s stock valued at $4,983,000 after acquiring an additional 410,238 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Rocket Pharmaceuticals in the 1st quarter valued at $189,000. Goldman Sachs Group Inc. grew its holdings in shares of Rocket Pharmaceuticals by 24.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 995,690 shares of the biotechnology company’s stock worth $6,641,000 after purchasing an additional 192,905 shares during the last quarter. Finally, TD Asset Management Inc increased its position in shares of Rocket Pharmaceuticals by 7.5% during the 2nd quarter. TD Asset Management Inc now owns 174,910 shares of the biotechnology company’s stock worth $429,000 after purchasing an additional 12,200 shares in the last quarter. Institutional investors own 98.39% of the company’s stock.

Rocket Pharmaceuticals Company Profile

Rocket Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing gene therapies for rare, inherited pediatric diseases. The company employs a proprietary adeno-associated virus (AAV) and lentiviral vector platform to deliver functional copies of genes in patients with genetic deficiencies. Its programs target a spectrum of disorders, including Fanconi anemia, leukocyte adhesion deficiency type I and Danon disease, with the goal of delivering one-time treatments that address the underlying causes of disease rather than merely managing symptoms.

The company’s pipeline comprises multiple product candidates in various stages of development.