Rocket Pharmaceuticals (NASDAQ:RCKT) General Counsel Martin Wilson Sells 3,361 Shares

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) General Counsel Martin Wilson sold 3,361 shares of the company’s stock in a transaction 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 transaction, the general counsel directly owned 678,639 shares of the company’s stock, valued at $2,449,886.79. This represents a 0.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available 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 value of $40,557.43.

Rocket Pharmaceuticals Stock Performance

Shares of NASDAQ RCKT opened at $3.40 on Friday. The company has a market cap of $371.25 million, a P/E ratio of -1.82 and a beta of 0.52. The firm’s fifty day moving average is $3.98 and its two-hundred day moving average is $3.68. The company has a debt-to-equity ratio of 0.08, a quick ratio of 6.12 and a current ratio of 6.12. Rocket Pharmaceuticals, Inc. has a 52-week low of $2.19 and a 52-week high of $7.14.

Rocket Pharmaceuticals (NASDAQ:RCKT) last released its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.41) by ($0.01). During the same quarter last year, the firm posted ($0.56) earnings per share. As a group, analysts anticipate that Rocket Pharmaceuticals, Inc. will post -1.38 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Cantor Fitzgerald increased their price objective on shares of Rocket Pharmaceuticals from $8.00 to $10.00 and gave the stock an “overweight” rating in a research report on Friday, February 27th. 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. Chardan Capital reaffirmed a “buy” rating and set a $11.00 target price on shares of Rocket Pharmaceuticals in a research report on Monday. The Goldman Sachs Group lifted their target price on Rocket Pharmaceuticals to $3.00 and gave the company a “sell” rating in a research report on Monday, March 2nd. Finally, Wall Street Zen downgraded Rocket Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Sunday, March 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $11.54.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in RCKT. Vanguard Group Inc. increased its holdings in shares of Rocket Pharmaceuticals by 12.6% during the third quarter. Vanguard Group Inc. now owns 6,892,204 shares of the biotechnology company’s stock valued at $22,469,000 after acquiring an additional 769,743 shares in the last quarter. MPM Bioimpact LLC increased its position in shares of Rocket Pharmaceuticals by 141.2% in the 2nd quarter. MPM Bioimpact LLC now owns 3,903,081 shares of the biotechnology company’s stock valued at $9,563,000 after acquiring an additional 2,284,816 shares during the period. Millennium Management LLC lifted its position in Rocket Pharmaceuticals by 52.0% during the 3rd quarter. Millennium Management LLC now owns 3,570,391 shares of the biotechnology company’s stock worth $11,639,000 after acquiring an additional 1,221,554 shares during the period. Monaco Asset Management SAM grew its stake in Rocket Pharmaceuticals by 3.3% during the 4th quarter. Monaco Asset Management SAM now owns 2,987,296 shares of the biotechnology company’s stock valued at $10,485,000 after purchasing an additional 95,035 shares during the last quarter. Finally, Newtyn Management LLC lifted its holdings in shares of Rocket Pharmaceuticals by 25.1% during the third quarter. Newtyn Management LLC now owns 2,502,863 shares of the biotechnology company’s stock worth $8,159,000 after purchasing an additional 502,863 shares during the period. 98.39% of the stock is currently owned by hedge funds and other institutional investors.

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.