Martin Wilson Sells 3,361 Shares of Rocket Pharmaceuticals (NASDAQ:RCKT) Stock

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) General Counsel Martin Wilson sold 3,361 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $3.61, for a total transaction of $12,133.21. Following the completion of the sale, the general counsel owned 678,639 shares in the company, valued at $2,449,886.79. This represents a 0.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 Friday, February 13th, Martin Wilson sold 12,253 shares of Rocket Pharmaceuticals stock. The stock was sold at an average price of $3.31, for a total transaction of $40,557.43.

Rocket Pharmaceuticals Trading Down 4.4%

Shares of RCKT stock opened at $3.25 on Friday. Rocket Pharmaceuticals, Inc. has a 12-month low of $2.19 and a 12-month high of $6.89. The company has a current ratio of 6.12, a quick ratio of 6.12 and a debt-to-equity ratio of 0.08. The firm’s 50 day moving average is $3.94 and its 200 day moving average is $3.67. The stock has a market capitalization of $354.87 million, a P/E ratio of -1.74 and a beta of 0.52.

Rocket Pharmaceuticals (NASDAQ:RCKT) last issued its earnings results on Thursday, May 7th. The biotechnology company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.41) by ($0.01). During the same period in the prior year, the firm posted ($0.56) EPS. Research analysts expect that Rocket Pharmaceuticals, Inc. will post -1.24 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on RCKT shares. Bank of America boosted their price objective on shares of Rocket Pharmaceuticals from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Monday, March 30th. Cantor Fitzgerald upped their price target on Rocket Pharmaceuticals from $8.00 to $10.00 and gave the stock an “overweight” rating in a research report on Friday, February 27th. Lifesci Capital upgraded Rocket Pharmaceuticals to a “strong-buy” rating in a research report on Thursday, February 26th. Chardan Capital restated a “buy” rating and issued a $11.00 price target on shares of Rocket Pharmaceuticals in a research report on Monday, May 11th. Finally, The Goldman Sachs Group upped their price target on Rocket Pharmaceuticals to $3.00 and gave the stock a “sell” rating in a research report on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, six have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $11.54.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Rocket Pharmaceuticals by 12.6% in the 3rd quarter. Vanguard Group Inc. now owns 6,892,204 shares of the biotechnology company’s stock worth $22,469,000 after buying an additional 769,743 shares during the period. MPM Bioimpact LLC boosted its holdings in Rocket Pharmaceuticals by 141.2% in the 2nd quarter. MPM Bioimpact LLC now owns 3,903,081 shares of the biotechnology company’s stock worth $9,563,000 after buying an additional 2,284,816 shares during the period. Millennium Management LLC boosted its holdings in Rocket Pharmaceuticals by 52.0% in the 3rd quarter. Millennium Management LLC now owns 3,570,391 shares of the biotechnology company’s stock worth $11,639,000 after buying an additional 1,221,554 shares during the period. Monaco Asset Management SAM boosted its holdings in Rocket Pharmaceuticals by 3.3% in the 4th quarter. Monaco Asset Management SAM now owns 2,987,296 shares of the biotechnology company’s stock worth $10,485,000 after buying an additional 95,035 shares during the period. Finally, Newtyn Management LLC boosted its holdings in Rocket Pharmaceuticals by 25.1% in the 3rd quarter. Newtyn Management LLC now owns 2,502,863 shares of the biotechnology company’s stock worth $8,159,000 after buying an additional 502,863 shares during the period. Institutional investors own 98.39% of the company’s stock.

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.