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

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) COO Christopher James Stevens sold 36,658 shares of the business’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $3.50, for a total value of $128,303.00. Following the transaction, the chief operating officer owned 505,784 shares in the company, valued at approximately $1,770,244. This trade represents a 6.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Rocket Pharmaceuticals Stock Down 2.1%

NASDAQ:RCKT traded down $0.07 during mid-day trading on Thursday, hitting $3.34. 1,108,787 shares of the company’s stock traded hands, compared to its average volume of 2,723,649. The company has a fifty day moving average of $3.36 and a 200 day moving average of $3.61. 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 twelve month low of $2.53 and a twelve month high of $5.45. The company has a market capitalization of $366.67 million, a P/E ratio of -19.65 and a beta of 0.47.

Rocket Pharmaceuticals (NASDAQ:RCKT) last issued its quarterly earnings results on Monday, August 10th. The biotechnology company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.22. During the same period in the previous year, the business posted ($0.62) EPS. On average, analysts forecast that Rocket Pharmaceuticals, Inc. will post -1.16 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on RCKT shares. Wedbush cut their price target on shares of Rocket Pharmaceuticals from $16.00 to $15.00 and set an “outperform” rating on the stock in a research note on Tuesday. Wall Street Zen lowered shares of Rocket Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Sunday. Weiss Ratings downgraded Rocket Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday. Finally, 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. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $8.57.

Institutional Trading of Rocket Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in Rocket Pharmaceuticals during the second quarter valued at $33,940,000. Monaco Asset Management SAM acquired a new stake in Rocket Pharmaceuticals during the 2nd quarter worth about $8,483,000. MPM Bioimpact LLC grew its position in Rocket Pharmaceuticals by 141.2% during the 2nd quarter. MPM Bioimpact LLC now owns 3,903,081 shares of the biotechnology company’s stock worth $9,563,000 after purchasing an additional 2,284,816 shares during the period. Qube Research & Technologies Ltd raised its stake in shares of Rocket Pharmaceuticals by 690.8% during the 2nd quarter. Qube Research & Technologies Ltd now owns 1,548,262 shares of the biotechnology company’s stock valued at $3,793,000 after buying an additional 1,352,469 shares during the last quarter. Finally, Millennium Management LLC raised its stake in shares of Rocket Pharmaceuticals by 52.0% during the 3rd quarter. Millennium Management LLC now owns 3,570,391 shares of the biotechnology company’s stock valued at $11,639,000 after buying an additional 1,221,554 shares during the last quarter. 98.39% of the stock is currently owned by institutional investors and hedge funds.

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.