Martin Wilson Sells 3,493 Shares of Rocket Pharmaceuticals (NASDAQ:RCKT) Stock

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) General Counsel Martin Wilson sold 3,493 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $3.38, for a total transaction of $11,806.34. Following the completion of the sale, the general counsel directly owned 674,484 shares of the company’s stock, valued at $2,279,755.92. The trade was a 0.52% decrease in their position. The sale was disclosed in a filing with the SEC, 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 transaction of $1,992.62.

Rocket Pharmaceuticals Trading Down 1.8%

Shares of NASDAQ RCKT opened at $3.34 on Wednesday. The company’s fifty day moving average is $3.41 and its 200-day moving average is $3.60. The stock has a market cap of $366.67 million, a price-to-earnings ratio of -19.65 and a beta of 0.47. Rocket Pharmaceuticals, Inc. has a twelve month low of $2.53 and a twelve month high of $5.45. The company has a quick ratio of 9.24, a current ratio of 9.24 and a debt-to-equity ratio of 0.05.

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on RCKT shares. Chardan Capital reiterated a “buy” rating and set a $11.00 price objective on shares of Rocket Pharmaceuticals in a report on Monday, May 11th. Wall Street Zen raised Rocket Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday. Wedbush dropped their target price on shares of Rocket Pharmaceuticals from $16.00 to $15.00 and set an “outperform” rating on the stock in a report on Tuesday, August 11th. Finally, Weiss Ratings cut shares of Rocket Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, August 11th. One investment 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 assigned a Sell rating to the company. According to data from MarketBeat.com, Rocket Pharmaceuticals currently has an average rating of “Hold” and a consensus price target of $8.57.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Allworth Financial LP acquired a new stake in Rocket Pharmaceuticals in the 2nd quarter valued at approximately $28,000. Legal & General Group Plc bought a new stake in Rocket Pharmaceuticals in the 2nd quarter valued at approximately $31,000. Prudential Financial Inc. acquired a new position in Rocket Pharmaceuticals during the 2nd quarter worth approximately $25,000. Franklin Resources Inc. acquired a new position in Rocket Pharmaceuticals during the 4th quarter worth approximately $38,000. Finally, Focus Partners Advisor Solutions LLC bought a new position in shares of Rocket Pharmaceuticals during the 2nd quarter worth approximately $41,000. 98.39% of the stock is owned by institutional investors and hedge funds.

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.