Insider Selling: Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) General Counsel Sells 1,175 Shares of Stock

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) General Counsel Martin Wilson sold 1,175 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $13.05, for a total transaction of $15,333.75. Following the sale, the general counsel now directly owns 63,560 shares of the company’s stock, valued at approximately $829,458. This represents a 1.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Rocket Pharmaceuticals Trading Up 0.1 %

Shares of NASDAQ RCKT opened at $14.11 on Wednesday. The business has a 50 day simple moving average of $17.05 and a 200 day simple moving average of $19.76. Rocket Pharmaceuticals, Inc. has a 52 week low of $12.62 and a 52 week high of $32.53. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of -5.13 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.05 and a current ratio of 6.05.

Institutional Trading of Rocket Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC raised its holdings in shares of Rocket Pharmaceuticals by 31.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,160 shares of the biotechnology company’s stock valued at $68,000 after purchasing an additional 764 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Rocket Pharmaceuticals by 21.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,292 shares of the biotechnology company’s stock worth $61,000 after buying an additional 582 shares during the last quarter. Values First Advisors Inc. bought a new position in Rocket Pharmaceuticals during the third quarter valued at about $108,000. SG Americas Securities LLC acquired a new stake in shares of Rocket Pharmaceuticals in the third quarter worth about $113,000. Finally, Dana Investment Advisors Inc. boosted its stake in shares of Rocket Pharmaceuticals by 4.4% during the 2nd quarter. Dana Investment Advisors Inc. now owns 13,847 shares of the biotechnology company’s stock worth $298,000 after acquiring an additional 586 shares in the last quarter. 98.39% of the stock is owned by institutional investors.

Analyst Ratings Changes

RCKT has been the subject of a number of recent analyst reports. Canaccord Genuity Group reiterated a “buy” rating and issued a $39.00 price target on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. Needham & Company LLC restated a “buy” rating and issued a $52.00 target price on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th. Chardan Capital reiterated a “buy” rating and set a $62.00 price target on shares of Rocket Pharmaceuticals in a report on Monday, November 18th. Scotiabank started coverage on Rocket Pharmaceuticals in a research note on Wednesday, October 16th. They issued a “sector outperform” rating and a $50.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their target price on Rocket Pharmaceuticals from $50.00 to $54.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Rocket Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $51.00.

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.