Insider Selling: Rocket Pharmaceuticals (NASDAQ:RCKT) General Counsel Sells $256,237.60 in Stock

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) General Counsel Martin Wilson sold 75,364 shares of the business’s stock in a transaction on Friday, September 11th. The shares were sold at an average price of $3.40, for a total transaction of $256,237.60. Following the completion of the transaction, the general counsel directly owned 598,489 shares of the company’s stock, valued at $2,034,862.60. This trade represents a 11.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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, August 18th, Martin Wilson sold 631 shares of Rocket Pharmaceuticals stock. The shares were sold at an average price of $3.38, for a total transaction of $2,132.78.
• On Thursday, August 13th, Martin Wilson sold 3,493 shares of Rocket Pharmaceuticals stock. The stock was sold at an average price of $3.38, for a total value of $11,806.34.

Rocket Pharmaceuticals Trading Down 0.6%

RCKT stock traded down $0.02 during midday trading on Tuesday, hitting $3.41. 3,660,135 shares of the company’s stock were exchanged, compared to its average volume of 1,248,552. The stock’s fifty day moving average price is $3.54 and its 200-day moving average price is $3.63. The company has a debt-to-equity ratio of 0.05, a quick ratio of 9.24 and a current ratio of 9.24. The company has a market cap of $374.35 million, a PE ratio of -20.06 and a beta of 0.50. Rocket Pharmaceuticals, Inc. has a one year low of $2.53 and a one year high of $5.45.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its quarterly earnings results on Monday, August 10th. The biotechnology company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.22. During the same period in the prior year, the company earned ($0.62) earnings per share. Research analysts predict that Rocket Pharmaceuticals, Inc. will post -1.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RCKT has been the subject of several research analyst reports. Chardan Capital reiterated a “buy” rating and issued a $11.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday. Weiss Ratings lowered shares of Rocket Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, August 11th. Wedbush reduced their price target on shares of Rocket Pharmaceuticals from $16.00 to $15.00 and set an “outperform” rating for the company in a report on Tuesday, August 11th. Finally, Wall Street Zen upgraded shares of Rocket Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Monday, August 17th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Rocket Pharmaceuticals currently has an average rating of “Hold” and a consensus target price of $8.57.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of RCKT. 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. HB Wealth Management LLC acquired a new position in Rocket Pharmaceuticals during the 2nd quarter worth approximately $36,000. Focus Partners Advisor Solutions LLC acquired a new position in Rocket Pharmaceuticals during the 2nd quarter worth approximately $41,000. Finally, Sequoia Financial Advisors LLC bought a new position in shares of Rocket Pharmaceuticals during the 4th quarter worth approximately $42,000. 98.39% of the stock is currently owned by institutional investors.

Rocket Pharmaceuticals Company Profile

Rocket Pharmaceuticals, Inc is a biotechnology company focused on developing gene therapies for rare and devastating diseases. The company uses lentiviral and adeno-associated virus (AAV) vector platforms to deliver genetic material intended to address the underlying causes of inherited disorders, with research programs spanning hematology, immunology, metabolic disease and cardiac conditions.

Rocket’s pipeline has included RP-L102 for Fanconi anemia, a rare inherited bone marrow failure disorder; RP-L201 for leukocyte adhesion deficiency-I, an immune-system disorder; and RP-L301 for pyruvate kinase deficiency, a rare red blood cell disorder.