Insider Selling: Rocket Pharmaceuticals (NASDAQ:RCKT) General Counsel Sells $11,806.34 in Stock

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) General Counsel Martin Wilson sold 3,493 shares of the business’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $3.38, for a total transaction of $11,806.34. Following the completion of the transaction, the general counsel owned 674,484 shares in the company, valued at $2,279,755.92. This represents a 0.52% decrease in their position. The sale was disclosed in a filing 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, May 19th, Martin Wilson sold 662 shares of Rocket Pharmaceuticals stock. The shares were sold at an average price of $3.01, for a total value of $1,992.62.

Rocket Pharmaceuticals Stock Down 2.0%

Shares of NASDAQ RCKT traded down $0.07 during midday trading on Monday, reaching $3.40. 1,505,261 shares of the company’s stock were exchanged, compared to its average volume of 2,705,811. Rocket Pharmaceuticals, Inc. has a 52-week low of $2.53 and a 52-week high of $5.45. The stock has a market capitalization of $373.24 million, a PE ratio of -20.00 and a beta of 0.47. 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 business’s fifty day moving average price is $3.38 and its two-hundred day moving average price is $3.61.

Rocket Pharmaceuticals (NASDAQ:RCKT) last issued its quarterly earnings results on Monday, August 10th. The biotechnology company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.22. During the same period in the previous year, the company posted ($0.62) earnings per share. Analysts forecast that Rocket Pharmaceuticals, Inc. will post -1.4 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of RCKT. Prudential Financial Inc. bought a new position in Rocket Pharmaceuticals in the second quarter worth about $25,000. Allworth Financial LP bought a new position in shares of Rocket Pharmaceuticals during the second quarter valued at approximately $28,000. CANADA LIFE ASSURANCE Co raised its position in shares of Rocket Pharmaceuticals by 94.4% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 12,202 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 5,926 shares during the period. Legal & General Group Plc bought a new stake in shares of Rocket Pharmaceuticals in the 2nd quarter worth approximately $31,000. Finally, Franklin Resources Inc. bought a new stake in shares of Rocket Pharmaceuticals in the 4th quarter worth approximately $38,000. 98.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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.