Christopher James Stevens Sells 36,658 Shares of Rocket Pharmaceuticals (NASDAQ:RCKT) Stock

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) COO Christopher James Stevens sold 36,658 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $3.50, for a total value of $128,303.00. Following the completion of the transaction, the chief operating officer owned 505,784 shares of the company’s stock, valued at $1,770,244. This trade represents a 6.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Rocket Pharmaceuticals Stock Performance

Shares of RCKT opened at $3.47 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 6.12 and a current ratio of 9.24. The stock has a 50-day moving average of $3.38 and a two-hundred day moving average of $3.61. The stock has a market cap of $380.94 million, a P/E ratio of -20.41 and a beta of 0.47. Rocket Pharmaceuticals, Inc. has a one year low of $2.53 and a one year high of $5.45.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its quarterly earnings data on Monday, August 10th. The biotechnology company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.22. During the same period last year, the business earned ($0.62) earnings per share. As a group, research analysts predict that Rocket Pharmaceuticals, Inc. will post -1.4 EPS for the current year.

Institutional Investors Weigh In On Rocket Pharmaceuticals

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on RCKT shares. Wall Street Zen lowered shares of Rocket Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Sunday, August 9th. Chardan Capital reiterated a “buy” rating and issued a $11.00 price objective on shares of Rocket Pharmaceuticals in a research note on Monday, May 11th. Weiss Ratings cut shares of Rocket Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday. Finally, Wedbush decreased 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 report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus 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.