Rocket Pharmaceuticals (NASDAQ:RCKT) Releases Earnings Results, Misses Expectations By $0.01 EPS

Rocket Pharmaceuticals (NASDAQ:RCKT) posted its quarterly earnings data on Thursday. The biotechnology company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.01), Zacks reports. During the same quarter in the prior year, the company earned ($0.56) EPS.

Rocket Pharmaceuticals Stock Down 1.1%

NASDAQ RCKT traded down $0.04 on Friday, hitting $3.63. 3,682,797 shares of the company were exchanged, compared to its average volume of 2,125,075. The company has a market cap of $396.11 million, a PE ratio of -1.94 and a beta of 0.52. Rocket Pharmaceuticals has a 12 month low of $2.19 and a 12 month high of $7.39. The stock has a fifty day moving average of $4.09 and a 200-day moving average of $3.69. The company has a current ratio of 6.38, a quick ratio of 6.38 and a debt-to-equity ratio of 0.07.

Insider Buying and Selling at Rocket Pharmaceuticals

In related news, General Counsel Martin Wilson sold 12,253 shares of the stock in a transaction on Friday, February 13th. The shares were sold at an average price of $3.31, for a total transaction of $40,557.43. Following the transaction, the general counsel directly owned 683,376 shares of the company’s stock, valued at $2,261,974.56. This represents a 1.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Gaurav Shah sold 12,279 shares of the company’s stock in a transaction on Friday, February 13th. The stock was sold at an average price of $3.31, for a total transaction of $40,643.49. Following the transaction, the chief executive officer owned 1,052,045 shares in the company, valued at approximately $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. Over the last three months, insiders have sold 29,415 shares of company stock worth $97,398. 21.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of RCKT. Prudential Financial Inc. acquired a new position in Rocket Pharmaceuticals during the second quarter worth $25,000. CANADA LIFE ASSURANCE Co raised its holdings in Rocket Pharmaceuticals by 94.4% during the second quarter. CANADA LIFE ASSURANCE Co now owns 12,202 shares of the biotechnology company’s stock worth $29,000 after buying an additional 5,926 shares during the last quarter. Franklin Resources Inc. acquired a new position in Rocket Pharmaceuticals during the fourth quarter worth $38,000. Virtu Financial LLC acquired a new position in Rocket Pharmaceuticals during the third quarter worth $40,000. Finally, Ameriprise Financial Inc. acquired a new position in Rocket Pharmaceuticals during the third quarter worth $43,000. Institutional investors and hedge funds own 98.39% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on RCKT shares. Weiss Ratings raised shares of Rocket Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, April 24th. Cantor Fitzgerald upped their price objective on shares of Rocket Pharmaceuticals from $8.00 to $10.00 and gave the company an “overweight” rating in a research note on Friday, February 27th. Lifesci Capital raised shares of Rocket Pharmaceuticals to a “strong-buy” rating in a research note on Thursday, February 26th. Bank of America increased their target price on shares of Rocket Pharmaceuticals from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Monday, March 30th. Finally, Chardan Capital reissued a “buy” rating and set a $11.00 target price on shares of Rocket Pharmaceuticals in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $11.54.

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.