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This Insider Bought Rocket Pharmaceuticals (NASDAQ:RCKT) Stock Worth $20M

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One major owner at Rocket Pharmaceuticalswith more than a 10% holding, bought RCKT stock worth $20 million.

Shares of Rocket Pharmaceuticals (NASDAQ: RCKT) gained almost 4% yesterday in the extended trading hours on insider trading news. One of the major owners, RTW Investments, LP, lapped up 1,355,932 shares of RCKT stock at an average price of $14.75 per share, worth $20 million.

Based in the U.S., Rocket Pharmaceuticals, Inc. is a clinical-stage biotechnology company, focused on the development of first-in-class gene therapy treatment options for rare and devastating pediatric diseases.

With the recently reported Buys, the firm now owns 26.69% (17.63 million shares) of the total shares outstanding, with a value of $294.75 million.

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Interestingly, TipRanks also provides a list of hot stocks that boasts either a Very Positive or Positive insider confidence signal.

Is Rocket Pharmaceuticals, Inc. (RCKT) a Buy, Sell, or Hold?

The Wall Street community is clearly optimistic about the stock. Overall, the stock commands a Strong Buy consensus rating based on nine unanimous Buys. Rocket Pharmaceuticals stock’s average price target of $57.71 implies a whopping 250.2% upside potential from current levels.

Further, RCKT stock boasts a score of 9 out of 10 on TipRanks’ Smart Score rating system, indicating that the stock has strong potential to outperform market expectations.

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