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

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) COO Christopher James Stevens sold 36,658 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $3.50, for a total transaction of $128,303.00. Following the completion of the sale, the chief operating officer directly owned 505,784 shares of the company’s stock, valued at $1,770,244. The trade was a 6.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Rocket Pharmaceuticals Trading Down 2.1%

Shares of NASDAQ RCKT opened at $3.34 on Friday. Rocket Pharmaceuticals, Inc. has a 1-year low of $2.53 and a 1-year high of $5.45. The business has a fifty day moving average price of $3.37 and a 200 day moving average price of $3.61. The stock has a market capitalization of $366.67 million, a P/E ratio of -19.65 and a beta of 0.47. The company has a debt-to-equity ratio of 0.08, a current ratio of 6.12 and a quick ratio of 6.12.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its earnings results on Monday, August 10th. The biotechnology company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.22. During the same quarter last year, the company earned ($0.62) earnings per share. Equities research analysts expect that Rocket Pharmaceuticals, Inc. will post -0.88 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on RCKT. Wedbush lowered their price objective on shares of Rocket Pharmaceuticals from $16.00 to $15.00 and set an “outperform” rating for the company in a research note on Tuesday. Chardan Capital restated a “buy” rating and issued a $11.00 target price on shares of Rocket Pharmaceuticals in a research note on Monday, May 11th. Wall Street Zen downgraded Rocket Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Sunday, August 9th. Finally, Weiss Ratings lowered Rocket Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $8.57.

Hedge Funds Weigh In On Rocket Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the stock. Ieq Capital LLC acquired a new position in Rocket Pharmaceuticals in the second quarter valued at approximately $1,506,000. Allworth Financial LP acquired a new position in shares of Rocket Pharmaceuticals in the 2nd quarter valued at $28,000. BlackRock Inc. purchased a new stake in Rocket Pharmaceuticals during the second quarter worth $33,940,000. Pallas Capital Advisors LLC purchased a new stake in Rocket Pharmaceuticals during the second quarter worth $47,000. Finally, Deutsche Bank AG acquired a new stake in Rocket Pharmaceuticals during the second quarter valued at $288,000. Institutional investors and hedge funds 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.