Rocket Pharmaceuticals (NASDAQ:RCKT) General Counsel Sells $40,557.43 in Stock

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) General Counsel Martin Wilson sold 12,253 shares of Rocket Pharmaceuticals stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $3.31, for a total value of $40,557.43. Following the completion of the transaction, the general counsel directly owned 683,376 shares in the company, valued at $2,261,974.56. This trade represents a 1.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Rocket Pharmaceuticals Stock Performance

Shares of RCKT stock opened at $3.78 on Friday. The company has a market capitalization of $409.08 million, a P/E ratio of -1.68 and a beta of 0.48. Rocket Pharmaceuticals, Inc. has a fifty-two week low of $2.19 and a fifty-two week high of $11.08. The company has a debt-to-equity ratio of 0.06, a quick ratio of 7.30 and a current ratio of 7.30. The stock has a 50 day moving average price of $3.51 and a two-hundred day moving average price of $3.39.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. TD Cowen raised shares of Rocket Pharmaceuticals to a “hold” rating in a report on Friday, December 19th. Wedbush reiterated an “outperform” rating and set a $16.00 target price on shares of Rocket Pharmaceuticals in a report on Friday, November 7th. JPMorgan Chase & Co. downgraded Rocket Pharmaceuticals from a “neutral” rating to an “underweight” rating in a report on Tuesday, November 18th. Morgan Stanley set a $5.00 price objective on Rocket Pharmaceuticals in a report on Thursday, January 8th. Finally, Bank of America cut their price objective on Rocket Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, November 18th. Eight research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $14.36.

Institutional Trading of Rocket Pharmaceuticals

Several large investors have recently bought and sold shares of the company. Federated Hermes Inc. raised its position in shares of Rocket Pharmaceuticals by 0.5% in the 3rd quarter. Federated Hermes Inc. now owns 627,567 shares of the biotechnology company’s stock worth $2,046,000 after acquiring an additional 3,264 shares in the last quarter. Barclays PLC boosted its position in shares of Rocket Pharmaceuticals by 2.4% during the fourth quarter. Barclays PLC now owns 153,049 shares of the biotechnology company’s stock valued at $537,000 after purchasing an additional 3,656 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in Rocket Pharmaceuticals by 1.2% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 309,247 shares of the biotechnology company’s stock worth $1,085,000 after purchasing an additional 3,809 shares during the period. CANADA LIFE ASSURANCE Co raised its holdings in 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 purchasing an additional 5,926 shares in the last quarter. Finally, Rockefeller Capital Management L.P. lifted its position in Rocket Pharmaceuticals by 7.3% during the second quarter. Rockefeller Capital Management L.P. now owns 96,982 shares of the biotechnology company’s stock valued at $238,000 after buying an additional 6,580 shares during the period. 98.39% of the stock is owned by institutional investors.

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.