Insider Selling: Rocket Pharmaceuticals (NASDAQ:RCKT) General Counsel Sells $11,806.34 in Stock

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) General Counsel Martin Wilson sold 3,493 shares of the firm’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $3.38, for a total value of $11,806.34. Following the sale, the general counsel owned 674,484 shares in the company, valued at $2,279,755.92. This trade represents a 0.52% decrease in their position. The transaction was disclosed in a legal 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 Trading Down 2.0%

Shares of RCKT stock traded down $0.07 during trading hours on Monday, hitting $3.40. 1,505,261 shares of the company were exchanged, compared to its average volume of 2,705,811. The firm has a fifty day moving average of $3.38 and a 200 day moving average of $3.61. The company has a quick ratio of 9.24, a current ratio of 9.24 and a debt-to-equity ratio of 0.05. Rocket Pharmaceuticals, Inc. has a 1 year low of $2.53 and a 1 year high of $5.45. The firm has a market cap of $373.24 million, a PE ratio of -20.00 and a beta of 0.47.

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

Institutional Investors Weigh In On Rocket Pharmaceuticals

Several hedge funds have recently modified their holdings of RCKT. Corient Private Wealth LP acquired a new position in Rocket Pharmaceuticals during the 2nd quarter worth approximately $125,000. Bank of America Corp DE acquired a new stake in Rocket Pharmaceuticals in the second quarter valued at approximately $2,512,000. ADAR1 Capital Management LLC acquired a new stake in Rocket Pharmaceuticals in the second quarter valued at approximately $1,489,000. PDT Partners LLC purchased a new stake in shares of Rocket Pharmaceuticals during the second quarter valued at approximately $638,000. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Rocket Pharmaceuticals during the second quarter valued at approximately $200,000. 98.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

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.