Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Insider Acquires $99,165.30 in Stock

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) insider Kinnari Patel purchased 21,099 shares of the stock in a transaction on Wednesday, April 9th. The shares were purchased at an average cost of $4.70 per share, with a total value of $99,165.30. Following the transaction, the insider now owns 26,774 shares of the company’s stock, valued at $125,837.80. This trade represents a 371.79 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Rocket Pharmaceuticals Stock Up 6.7 %

Rocket Pharmaceuticals stock opened at $5.27 on Friday. The company’s 50-day moving average price is $8.38 and its two-hundred day moving average price is $12.09. The stock has a market cap of $561.94 million, a price-to-earnings ratio of -1.92 and a beta of 1.00. Rocket Pharmaceuticals, Inc. has a 52 week low of $4.55 and a 52 week high of $26.98. The company has a current ratio of 6.05, a quick ratio of 6.05 and a debt-to-equity ratio of 0.06.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its earnings results on Monday, March 3rd. The biotechnology company reported ($0.62) EPS for the quarter, topping the consensus estimate of ($0.68) by $0.06. On average, analysts expect that Rocket Pharmaceuticals, Inc. will post -2.83 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have issued reports on RCKT shares. The Goldman Sachs Group decreased their price objective on shares of Rocket Pharmaceuticals from $29.00 to $15.00 and set a “neutral” rating for the company in a research note on Monday, March 3rd. BMO Capital Markets assumed coverage on Rocket Pharmaceuticals in a research report on Wednesday, March 12th. They issued an “outperform” rating and a $50.00 target price on the stock. Chardan Capital decreased their price target on Rocket Pharmaceuticals from $62.00 to $54.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Jefferies Financial Group assumed coverage on shares of Rocket Pharmaceuticals in a research note on Wednesday, December 18th. They set a “buy” rating and a $29.00 target price for the company. Finally, Canaccord Genuity Group dropped their price target on Rocket Pharmaceuticals from $39.00 to $36.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $43.00.

Institutional Trading of Rocket Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of RCKT. Rhumbline Advisers grew its holdings in Rocket Pharmaceuticals by 1.3% during the fourth quarter. Rhumbline Advisers now owns 99,339 shares of the biotechnology company’s stock worth $1,249,000 after acquiring an additional 1,242 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Rocket Pharmaceuticals by 4.1% in the 4th quarter. Envestnet Asset Management Inc. now owns 32,422 shares of the biotechnology company’s stock worth $408,000 after purchasing an additional 1,280 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of Rocket Pharmaceuticals by 8.4% in the 4th quarter. Arizona State Retirement System now owns 19,826 shares of the biotechnology company’s stock worth $249,000 after purchasing an additional 1,528 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Rocket Pharmaceuticals by 1.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 119,633 shares of the biotechnology company’s stock valued at $2,210,000 after purchasing an additional 1,561 shares during the last quarter. Finally, Virtus ETF Advisers LLC boosted its holdings in Rocket Pharmaceuticals by 40.4% during the fourth quarter. Virtus ETF Advisers LLC now owns 5,656 shares of the biotechnology company’s stock worth $71,000 after buying an additional 1,628 shares in the last quarter. Institutional investors own 98.39% of the company’s stock.

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.