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 dated Thursday, August 13th. The shares were sold at an average price of $3.38, for a total value of $11,806.34. Following the sale, the general counsel directly owned 674,484 shares in the company, valued at approximately $2,279,755.92. This represents a 0.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 Stock Performance

NASDAQ:RCKT opened at $3.65 on Thursday. The stock has a 50-day moving average price of $3.43 and a 200 day moving average price of $3.60. The stock has a market capitalization of $400.70 million, a P/E ratio of -21.47 and a beta of 0.47. Rocket Pharmaceuticals, Inc. has a 12-month low of $2.53 and a 12-month high of $5.45. 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 (NASDAQ:RCKT) last posted its quarterly earnings results on Monday, August 10th. The biotechnology company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.22. During the same period in the previous year, the firm earned ($0.62) earnings per share. Equities research analysts forecast that Rocket Pharmaceuticals, Inc. will post -1.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Rocket Pharmaceuticals

A number of hedge funds have recently bought and sold shares of RCKT. Prudential Financial Inc. purchased a new position in shares of Rocket Pharmaceuticals in the 2nd quarter worth $25,000. Allworth Financial LP bought a new stake in shares of Rocket Pharmaceuticals in the 2nd quarter worth about $28,000. CANADA LIFE ASSURANCE Co raised its position in shares of Rocket Pharmaceuticals by 94.4% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 12,202 shares of the biotechnology company’s stock valued at $29,000 after buying an additional 5,926 shares in the last quarter. Legal & General Group Plc bought a new position in shares of Rocket Pharmaceuticals in the 2nd quarter valued at about $31,000. Finally, Franklin Resources Inc. bought a new position in shares of Rocket Pharmaceuticals in the 4th quarter valued at about $38,000. Hedge funds and other institutional investors own 98.39% of the company’s stock.

Analyst Upgrades and Downgrades

RCKT has been the topic of several research analyst reports. Chardan Capital reiterated a “buy” rating and issued a $11.00 price target on shares of Rocket Pharmaceuticals in a research note on Monday, May 11th. Wedbush cut 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 report on Tuesday, August 11th. Finally, Wall Street Zen upgraded Rocket Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $8.57.

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.