Rocket Pharmaceuticals (NASDAQ:RCKT) General Counsel Sells $12,133.21 in Stock

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) General Counsel Martin Wilson sold 3,361 shares of the stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $3.61, for a total value of $12,133.21. Following the completion of the transaction, the general counsel directly owned 678,639 shares in the company, valued at $2,449,886.79. This trade represents a 0.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 Friday, February 13th, Martin Wilson sold 12,253 shares of Rocket Pharmaceuticals stock. The shares were sold at an average price of $3.31, for a total value of $40,557.43.

Rocket Pharmaceuticals Stock Down 5.6%

NASDAQ:RCKT traded down $0.20 during trading hours on Thursday, hitting $3.40. The company’s stock had a trading volume of 2,047,459 shares, compared to its average volume of 2,978,303. The stock has a market capitalization of $371.26 million, a P/E ratio of -1.82 and a beta of 0.52. The stock has a fifty day moving average of $4.00 and a 200-day moving average of $3.68. The company has a current ratio of 6.12, a quick ratio of 6.12 and a debt-to-equity ratio of 0.08. Rocket Pharmaceuticals, Inc. has a 52-week low of $2.19 and a 52-week high of $7.14.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its earnings results on Thursday, May 7th. The biotechnology company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.41) by ($0.01). During the same quarter in the previous year, the firm earned ($0.56) earnings per share. On average, equities analysts forecast that Rocket Pharmaceuticals, Inc. will post -1.58 earnings per share for the current year.

Analyst Ratings Changes

RCKT has been the topic of several recent analyst reports. Cantor Fitzgerald increased their target price on Rocket Pharmaceuticals from $8.00 to $10.00 and gave the company an “overweight” rating in a report on Friday, February 27th. Weiss Ratings raised Rocket Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, April 24th. Lifesci Capital raised Rocket Pharmaceuticals to a “strong-buy” rating in a report on Thursday, February 26th. Wall Street Zen lowered Rocket Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Sunday, March 8th. Finally, Bank of America increased their target price on Rocket Pharmaceuticals from $8.00 to $9.00 and gave the company a “buy” rating in a report on Monday, March 30th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $11.54.

Hedge Funds Weigh In On Rocket Pharmaceuticals

Several hedge funds have recently made changes to their positions in the company. Sei Investments Co. purchased a new position in shares of Rocket Pharmaceuticals during the first quarter worth about $101,000. Sequoia Financial Advisors LLC grew its holdings in shares of Rocket Pharmaceuticals by 68.9% during the first quarter. Sequoia Financial Advisors LLC now owns 20,349 shares of the biotechnology company’s stock worth $73,000 after purchasing an additional 8,298 shares during the last quarter. Ground Swell Capital LLC purchased a new position in shares of Rocket Pharmaceuticals during the first quarter worth about $50,000. Assenagon Asset Management S.A. grew its holdings in shares of Rocket Pharmaceuticals by 204.6% during the first quarter. Assenagon Asset Management S.A. now owns 99,026 shares of the biotechnology company’s stock worth $355,000 after purchasing an additional 66,511 shares during the last quarter. Finally, Krilogy Financial LLC purchased a new position in shares of Rocket Pharmaceuticals during the first quarter worth about $62,000. Hedge funds and other institutional investors own 98.39% of the company’s stock.

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.