Rocket Pharmaceuticals (NASDAQ:RCKT) General Counsel Martin Wilson Sells 3,493 Shares of Stock

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) General Counsel Martin Wilson sold 3,493 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $3.38, for a total transaction of $11,806.34. Following the completion of the transaction, the general counsel directly owned 674,484 shares in the company, valued at $2,279,755.92. This trade represents a 0.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Martin Wilson also recently made the following trade(s):

• On Tuesday, May 19th, Martin Wilson sold 662 shares of Rocket Pharmaceuticals stock. The stock was sold at an average price of $3.01, for a total value of $1,992.62.

Rocket Pharmaceuticals Price Performance

Shares of RCKT stock opened at $3.40 on Tuesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 9.24 and a quick ratio of 9.24. The firm’s 50-day moving average is $3.40 and its two-hundred day moving average is $3.60. Rocket Pharmaceuticals, Inc. has a 12 month low of $2.53 and a 12 month high of $5.45. The company has a market capitalization of $373.25 million, a PE ratio of -20.00 and a beta of 0.47.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its earnings results on Monday, August 10th. The biotechnology company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.22. During the same period in the previous year, the company posted ($0.62) earnings per share. Analysts predict that Rocket Pharmaceuticals, Inc. will post -1.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on RCKT. Wall Street Zen upgraded shares of Rocket Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday. Weiss Ratings cut Rocket Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, August 11th. Chardan Capital reaffirmed a “buy” rating and set a $11.00 price target on shares of Rocket Pharmaceuticals in a report on Monday, May 11th. Finally, Wedbush lowered their price objective on Rocket Pharmaceuticals from $16.00 to $15.00 and set an “outperform” rating for the company in a research report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Rocket Pharmaceuticals presently has a consensus rating of “Hold” and an average target price of $8.57.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Maverick Capital Ltd. raised its position in shares of Rocket Pharmaceuticals by 42.0% during the 1st quarter. Maverick Capital Ltd. now owns 3,567,372 shares of the biotechnology company’s stock worth $12,771,000 after purchasing an additional 1,054,262 shares during the last quarter. Monaco Asset Management SAM purchased a new stake in Rocket Pharmaceuticals in the 2nd quarter valued at approximately $8,483,000. Renaissance Technologies LLC grew its holdings in Rocket Pharmaceuticals by 51.3% during the 1st quarter. Renaissance Technologies LLC now owns 637,174 shares of the biotechnology company’s stock valued at $2,281,000 after buying an additional 216,000 shares during the last quarter. Essential Partners LLC increased its position in Rocket Pharmaceuticals by 371.6% during the first quarter. Essential Partners LLC now owns 13,541 shares of the biotechnology company’s stock worth $48,000 after buying an additional 10,670 shares in the last quarter. Finally, Rice Hall James & Associates LLC increased its position in Rocket Pharmaceuticals by 8.1% during the first quarter. Rice Hall James & Associates LLC now owns 91,887 shares of the biotechnology company’s stock worth $329,000 after buying an additional 6,900 shares in the last quarter. 98.39% of the stock is currently owned by hedge funds and other institutional investors.

Rocket Pharmaceuticals Company Profile

Rocket Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing gene therapies for rare, inherited pediatric diseases. The company employs a proprietary adeno-associated virus (AAV) and lentiviral vector platform to deliver functional copies of genes in patients with genetic deficiencies. Its programs target a spectrum of disorders, including Fanconi anemia, leukocyte adhesion deficiency type I and Danon disease, with the goal of delivering one-time treatments that address the underlying causes of disease rather than merely managing symptoms.

The company’s pipeline comprises multiple product candidates in various stages of development.