Rocket Pharmaceuticals (NASDAQ:RCKT) General Counsel Martin Wilson Sells 75,364 Shares of Stock

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) General Counsel Martin Wilson sold 75,364 shares of the firm’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $3.40, for a total value of $256,237.60. Following the completion of the sale, the general counsel directly owned 598,489 shares of the company’s stock, valued at $2,034,862.60. This trade represents a 11.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 Tuesday, August 18th, Martin Wilson sold 631 shares of Rocket Pharmaceuticals stock. The stock was sold at an average price of $3.38, for a total value of $2,132.78.
• On Thursday, August 13th, Martin Wilson sold 3,493 shares of Rocket Pharmaceuticals stock. The shares were sold at an average price of $3.38, for a total transaction of $11,806.34.

Rocket Pharmaceuticals Trading Down 0.6%

Shares of RCKT stock opened at $3.41 on Wednesday. The company has a current ratio of 9.24, a quick ratio of 9.24 and a debt-to-equity ratio of 0.05. Rocket Pharmaceuticals, Inc. has a twelve month low of $2.53 and a twelve month high of $5.45. The company’s 50-day moving average price is $3.54 and its 200-day moving average price is $3.63. The stock has a market cap of $374.35 million, a price-to-earnings ratio of -20.06 and a beta of 0.50.

Rocket Pharmaceuticals (NASDAQ:RCKT) last released its quarterly earnings data on Monday, August 10th. The biotechnology company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.22. During the same quarter last year, the firm earned ($0.62) EPS. As a group, equities analysts predict that Rocket Pharmaceuticals, Inc. will post -1.36 earnings per share for the current year.

Institutional Investors Weigh In On Rocket Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in shares of Rocket Pharmaceuticals in the 2nd quarter worth approximately $33,940,000. Maverick Capital Ltd. increased its holdings in Rocket Pharmaceuticals by 42.0% in the 1st quarter. Maverick Capital Ltd. now owns 3,567,372 shares of the biotechnology company’s stock valued at $12,771,000 after purchasing an additional 1,054,262 shares during the last quarter. Monaco Asset Management SAM raised its position in Rocket Pharmaceuticals by 3.3% in the fourth quarter. Monaco Asset Management SAM now owns 2,987,296 shares of the biotechnology company’s stock valued at $10,485,000 after purchasing an additional 95,035 shares during the period. Opaleye Management Inc. raised its position in Rocket Pharmaceuticals by 4.7% in the second quarter. Opaleye Management Inc. now owns 1,000,000 shares of the biotechnology company’s stock valued at $3,420,000 after purchasing an additional 45,000 shares during the period. Finally, Bank of America Corp DE acquired a new position in Rocket Pharmaceuticals during the second quarter worth $2,512,000. 98.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on RCKT. Wall Street Zen raised shares of Rocket Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, August 17th. 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. Weiss Ratings cut Rocket Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, August 11th. Finally, Chardan Capital restated a “buy” rating and issued a $11.00 target price on shares of Rocket Pharmaceuticals in a research report on Tuesday. 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 stock. Based on data from MarketBeat.com, Rocket Pharmaceuticals has a consensus rating of “Hold” and a consensus target price of $8.57.

Rocket Pharmaceuticals Company Profile

Rocket Pharmaceuticals, Inc is a biotechnology company focused on developing gene therapies for rare and devastating diseases. The company uses lentiviral and adeno-associated virus (AAV) vector platforms to deliver genetic material intended to address the underlying causes of inherited disorders, with research programs spanning hematology, immunology, metabolic disease and cardiac conditions.

Rocket’s pipeline has included RP-L102 for Fanconi anemia, a rare inherited bone marrow failure disorder; RP-L201 for leukocyte adhesion deficiency-I, an immune-system disorder; and RP-L301 for pyruvate kinase deficiency, a rare red blood cell disorder.