Rocket Pharmaceuticals (NASDAQ:RCKT) COO Sells $128,303.00 in Stock

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) COO Christopher James Stevens sold 36,658 shares of the company’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $3.50, for a total value of $128,303.00. Following the completion of the sale, the chief operating officer owned 505,784 shares in the company, valued at $1,770,244. This represents a 6.76% decrease in their ownership of the stock. The sale 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.

Rocket Pharmaceuticals Trading Up 3.9%

Rocket Pharmaceuticals stock opened at $3.47 on Friday. The stock has a market cap of $380.94 million, a PE ratio of -20.41 and a beta of 0.47. The stock has a 50-day moving average price of $3.38 and a 200 day moving average price of $3.61. Rocket Pharmaceuticals, Inc. has a 52 week low of $2.53 and a 52 week high of $5.45. The company has a current ratio of 9.24, a quick ratio of 6.12 and a debt-to-equity ratio of 0.05.

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

Institutional Investors Weigh In On Rocket Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its stake in Rocket Pharmaceuticals by 148.4% during the first quarter. AQR Capital Management LLC now owns 163,622 shares of the biotechnology company’s stock worth $1,091,000 after acquiring an additional 97,758 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Rocket Pharmaceuticals by 121.8% in the 1st quarter. Millennium Management LLC now owns 747,147 shares of the biotechnology company’s stock valued at $4,983,000 after purchasing an additional 410,238 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Rocket Pharmaceuticals during the 1st quarter worth about $189,000. Goldman Sachs Group Inc. increased its position in Rocket Pharmaceuticals by 24.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 995,690 shares of the biotechnology company’s stock worth $6,641,000 after purchasing an additional 192,905 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in 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 worth $4,976,000 after purchasing an additional 36,847 shares in the last quarter. Hedge funds and other institutional investors own 98.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on RCKT shares. Weiss Ratings downgraded shares of Rocket Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday. Wedbush lowered their target price 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. Wall Street Zen downgraded Rocket Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Sunday, August 9th. Finally, Chardan Capital reissued a “buy” rating and set a $11.00 price target on shares of Rocket Pharmaceuticals in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average 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.