Gotham Makker Sells 274,000 Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Stock

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Director Gotham Makker sold 274,000 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $28.43, for a total value of $7,789,820.00. Following the completion of the sale, the director now directly owns 365,912 shares of the company’s stock, valued at $10,402,878.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Rocket Pharmaceuticals Stock Performance

Shares of Rocket Pharmaceuticals stock opened at $27.25 on Thursday. The business has a 50-day moving average of $28.40 and a 200 day moving average of $24.82. 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 $2.47 billion, a price-to-earnings ratio of -9.27 and a beta of 1.08. The company has a debt-to-equity ratio of 0.04, a current ratio of 7.80 and a quick ratio of 7.80.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its quarterly earnings data on Monday, February 26th. The biotechnology company reported ($0.64) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.78) by $0.14. During the same period in the previous year, the firm posted ($0.92) earnings per share. As a group, sell-side analysts forecast that Rocket Pharmaceuticals, Inc. will post -2.94 earnings per share for the current year.

Hedge Funds Weigh In On Rocket Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Rocket Pharmaceuticals by 18.3% in the 4th quarter. Vanguard Group Inc. now owns 5,447,565 shares of the biotechnology company’s stock valued at $163,264,000 after buying an additional 843,552 shares during the period. Wellington Management Group LLP boosted its stake in shares of Rocket Pharmaceuticals by 2.2% in the 4th quarter. Wellington Management Group LLP now owns 8,197,546 shares of the biotechnology company’s stock valued at $245,680,000 after buying an additional 174,716 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Rocket Pharmaceuticals by 12.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 594,665 shares of the biotechnology company’s stock valued at $17,822,000 after buying an additional 64,946 shares during the period. American International Group Inc. raised its position in shares of Rocket Pharmaceuticals by 11.4% during the 4th quarter. American International Group Inc. now owns 31,184 shares of the biotechnology company’s stock worth $935,000 after acquiring an additional 3,184 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Rocket Pharmaceuticals during the 4th quarter worth about $332,000. Hedge funds and other institutional investors own 98.39% of the company’s stock.

Analyst Ratings Changes

RCKT has been the subject of a number of recent research reports. UBS Group cut their target price on Rocket Pharmaceuticals from $56.00 to $54.00 and set a “buy” rating for the company in a research note on Friday, March 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $53.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday, February 13th. Cantor Fitzgerald reiterated an “overweight” rating and set a $65.00 price target on shares of Rocket Pharmaceuticals in a report on Tuesday, February 27th. JPMorgan Chase & Co. lowered their price target on Rocket Pharmaceuticals from $55.00 to $50.00 and set an “overweight” rating for the company in a report on Tuesday, February 27th. Finally, Lifesci Capital reiterated an “outperform” rating on shares of Rocket Pharmaceuticals in a report on Tuesday, December 26th. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $54.00.

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.