Investors Purchase Large Volume of Rocket Pharmaceuticals Call Options (NASDAQ:RCKT)

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) was the recipient of unusually large options trading activity on Thursday. Stock traders acquired 7,425 call options on the stock. This is an increase of approximately 529% compared to the average volume of 1,181 call options.

Insider Buying and Selling at Rocket Pharmaceuticals

In other Rocket Pharmaceuticals news, General Counsel Martin Wilson sold 12,253 shares of the firm’s stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $3.31, for a total value of $40,557.43. Following the sale, the general counsel owned 683,376 shares of the company’s stock, valued at $2,261,974.56. This trade represents a 1.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Gaurav Shah sold 12,279 shares of the business’s stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $3.31, for a total value of $40,643.49. Following the transaction, the chief executive officer directly owned 1,052,045 shares of the company’s stock, valued at $3,482,268.95. The trade was a 1.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 29,415 shares of company stock valued at $97,398 in the last three months. 24.76% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Rocket Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of RCKT. AQR Capital Management LLC boosted its position in shares of Rocket Pharmaceuticals by 148.4% during the first quarter. AQR Capital Management LLC now owns 163,622 shares of the biotechnology company’s stock valued at $1,091,000 after purchasing an additional 97,758 shares in the last quarter. Millennium Management LLC raised its holdings in Rocket Pharmaceuticals by 121.8% in the first quarter. Millennium Management LLC now owns 747,147 shares of the biotechnology company’s stock worth $4,983,000 after purchasing an additional 410,238 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Rocket Pharmaceuticals during the first quarter valued at $189,000. Goldman Sachs Group Inc. lifted its position in Rocket Pharmaceuticals by 24.0% during the first quarter. Goldman Sachs Group Inc. now owns 995,690 shares of the biotechnology company’s stock valued at $6,641,000 after buying an additional 192,905 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Rocket Pharmaceuticals by 1.8% during the 2nd quarter. Geode Capital Management LLC now owns 2,030,891 shares of the biotechnology company’s stock valued at $4,976,000 after buying an additional 36,847 shares in the last quarter. Hedge funds and other institutional investors own 98.39% of the company’s stock.

Rocket Pharmaceuticals Trading Up 1.7%

Rocket Pharmaceuticals stock traded up $0.08 during trading hours on Thursday, reaching $4.76. The stock had a trading volume of 3,631,401 shares, compared to its average volume of 2,777,982. The company has a fifty day simple moving average of $4.01 and a 200-day simple moving average of $3.62. Rocket Pharmaceuticals has a 52 week low of $2.19 and a 52 week high of $8.26. The stock has a market cap of $516.90 million, a PE ratio of -2.37 and a beta of 0.39. The company has a debt-to-equity ratio of 0.07, a current ratio of 6.38 and a quick ratio of 6.38.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its earnings results on Thursday, February 26th. The biotechnology company reported ($0.38) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.04. During the same quarter in the previous year, the business earned ($0.62) EPS. Analysts forecast that Rocket Pharmaceuticals will post -2.83 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Lifesci Capital raised shares of Rocket Pharmaceuticals to a “strong-buy” rating in a report on Thursday, February 26th. Cantor Fitzgerald lifted their price objective on shares of Rocket Pharmaceuticals from $8.00 to $10.00 and gave the stock an “overweight” rating in a report on Friday, February 27th. Wall Street Zen cut Rocket Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Sunday, March 8th. The Goldman Sachs Group raised their price target on Rocket Pharmaceuticals to $3.00 and gave the company a “sell” rating in a research report on Monday, March 2nd. Finally, TD Cowen raised Rocket Pharmaceuticals to a “hold” rating in a research note on Friday, December 19th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Rocket Pharmaceuticals currently has a consensus rating of “Hold” and a consensus target price of $13.79.

About Rocket Pharmaceuticals

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.