Insider Selling: Rocket Pharmaceuticals (NASDAQ:RCKT) General Counsel Sells $12,133.21 in Stock

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) General Counsel Martin Wilson sold 3,361 shares of the company’s stock in a transaction dated Wednesday, May 13th. The shares were 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 directly owned 678,639 shares in the company, valued at $2,449,886.79. This trade represents a 0.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 shares were sold at an average price of $3.31, for a total transaction of $40,557.43.

Rocket Pharmaceuticals Stock Down 4.4%

Shares of NASDAQ RCKT 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 market capitalization of $354.87 million, a PE ratio of -1.74 and a beta of 0.52. The company has a debt-to-equity ratio of 0.08, a current ratio of 6.12 and a quick ratio of 6.12. The firm’s 50-day moving average is $3.94 and its two-hundred day moving average is $3.67.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its quarterly 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 quarter in the prior year, the firm earned ($0.56) EPS. Equities analysts anticipate that Rocket Pharmaceuticals, Inc. will post -1.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. The Goldman Sachs Group upped their price target on shares of Rocket Pharmaceuticals to $3.00 and gave the company a “sell” rating in a report on Monday, March 2nd. Chardan Capital reissued a “buy” rating and set a $11.00 price objective on shares of Rocket Pharmaceuticals in a research note on Monday, May 11th. Bank of America upped their price objective on shares of Rocket Pharmaceuticals from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Monday, March 30th. Weiss Ratings downgraded shares of Rocket Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday. Finally, Wall Street Zen raised shares of Rocket Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday. One 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $11.54.

Hedge Funds Weigh In On Rocket Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of RCKT. AQR Capital Management LLC lifted its stake in shares of Rocket Pharmaceuticals by 148.4% during the first quarter. AQR Capital Management LLC now owns 163,622 shares of the biotechnology company’s stock valued at $1,091,000 after buying an additional 97,758 shares during the period. Millennium Management LLC lifted its stake in shares of Rocket Pharmaceuticals by 121.8% during the first quarter. Millennium Management LLC now owns 747,147 shares of the biotechnology company’s stock valued at $4,983,000 after buying an additional 410,238 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in Rocket Pharmaceuticals during the first quarter worth approximately $189,000. Goldman Sachs Group Inc. raised its stake in Rocket Pharmaceuticals by 24.0% during the first quarter. Goldman Sachs Group Inc. now owns 995,690 shares of the biotechnology company’s stock worth $6,641,000 after purchasing an additional 192,905 shares during the period. Finally, Geode Capital Management LLC raised its stake in Rocket Pharmaceuticals by 1.8% during the second quarter. Geode Capital Management LLC now owns 2,030,891 shares of the biotechnology company’s stock worth $4,976,000 after purchasing an additional 36,847 shares during the period. Hedge funds and other institutional investors own 98.39% of the company’s stock.

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.