Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) CFO Aaron Ondrey Sells 7,489 Shares

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) CFO Aaron Ondrey sold 7,489 shares of the business’s stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $5.29, for a total transaction of $39,616.81. Following the transaction, the chief financial officer now owns 129,650 shares in the company, valued at $685,848.50. This represents a 5.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Rocket Pharmaceuticals Stock Performance

Shares of Rocket Pharmaceuticals stock opened at $4.79 on Wednesday. The company has a current ratio of 6.05, a quick ratio of 6.05 and a debt-to-equity ratio of 0.06. The company has a market cap of $510.76 million, a PE ratio of -1.74 and a beta of 1.00. The company has a 50 day moving average of $8.82 and a 200-day moving average of $12.42. Rocket Pharmaceuticals, Inc. has a 1-year low of $4.60 and a 1-year high of $26.98.

Rocket Pharmaceuticals (NASDAQ:RCKT) last issued its earnings results on Monday, March 3rd. The biotechnology company reported ($0.62) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.06. As a group, equities research analysts forecast that Rocket Pharmaceuticals, Inc. will post -2.83 earnings per share for the current fiscal year.

Institutional Trading of Rocket Pharmaceuticals

Large investors have recently bought and sold shares of the business. SG Americas Securities LLC lifted its holdings in shares of Rocket Pharmaceuticals by 796.2% in the fourth quarter. SG Americas Securities LLC now owns 54,921 shares of the biotechnology company’s stock worth $690,000 after acquiring an additional 48,793 shares during the last quarter. Jennison Associates LLC lifted its stake in Rocket Pharmaceuticals by 72.6% in the 4th quarter. Jennison Associates LLC now owns 70,304 shares of the biotechnology company’s stock valued at $884,000 after purchasing an additional 29,564 shares during the last quarter. Mirador Capital Partners LP grew its stake in shares of Rocket Pharmaceuticals by 403.9% during the fourth quarter. Mirador Capital Partners LP now owns 84,529 shares of the biotechnology company’s stock worth $1,063,000 after buying an additional 67,755 shares during the last quarter. Sovran Advisors LLC acquired a new position in shares of Rocket Pharmaceuticals during the fourth quarter worth $1,895,000. Finally, Strategic Financial Concepts LLC bought a new position in shares of Rocket Pharmaceuticals in the 4th quarter valued at $141,000. 98.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on RCKT shares. Canaccord Genuity Group dropped their price objective on Rocket Pharmaceuticals from $39.00 to $36.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. BMO Capital Markets initiated coverage on shares of Rocket Pharmaceuticals in a research report on Wednesday, March 12th. They set an “outperform” rating and a $50.00 price objective for the company. Scotiabank upped their price objective on shares of Rocket Pharmaceuticals from $51.00 to $52.00 and gave the company a “sector outperform” rating in a report on Monday, March 3rd. Needham & Company LLC cut their target price on shares of Rocket Pharmaceuticals from $52.00 to $42.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Finally, Jefferies Financial Group assumed coverage on shares of Rocket Pharmaceuticals in a research note on Wednesday, December 18th. They issued a “buy” rating and a $29.00 price target on the stock. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.00.

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.