Rocket Pharmaceuticals (NASDAQ:RCKT) General Counsel Sells $40,557.43 in Stock

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) General Counsel Martin Wilson sold 12,253 shares of the stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $3.31, for a total value of $40,557.43. Following the completion of the transaction, the general counsel directly owned 683,376 shares of the company’s stock, valued at $2,261,974.56. This represents a 1.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Rocket Pharmaceuticals Stock Up 4.2%

NASDAQ RCKT traded up $0.14 during mid-day trading on Wednesday, reaching $3.45. 2,561,307 shares of the company’s stock traded hands, compared to its average volume of 2,114,616. The company has a current ratio of 7.30, a quick ratio of 7.30 and a debt-to-equity ratio of 0.06. Rocket Pharmaceuticals, Inc. has a 1-year low of $2.19 and a 1-year high of $11.09. The company has a fifty day simple moving average of $3.50 and a 200-day simple moving average of $3.38. The company has a market cap of $373.37 million, a price-to-earnings ratio of -1.53 and a beta of 0.48.

Institutional Trading of Rocket Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of RCKT. Prudential Financial Inc. bought a new position in shares of Rocket Pharmaceuticals in the 2nd quarter worth about $25,000. Franklin Resources Inc. acquired a new stake in Rocket Pharmaceuticals during the fourth quarter worth about $38,000. Sequoia Financial Advisors LLC acquired a new stake in Rocket Pharmaceuticals during the fourth quarter worth about $42,000. CANADA LIFE ASSURANCE Co lifted its holdings in Rocket Pharmaceuticals by 94.4% in the second quarter. CANADA LIFE ASSURANCE Co now owns 12,202 shares of the biotechnology company’s stock worth $29,000 after acquiring an additional 5,926 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in Rocket Pharmaceuticals in the third quarter valued at approximately $40,000. 98.39% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. TD Cowen upgraded shares of Rocket Pharmaceuticals to a “hold” rating in a research note on Friday, December 19th. Morgan Stanley set a $5.00 price objective on shares of Rocket Pharmaceuticals in a report on Thursday, January 8th. Bank of America cut their target price on shares of Rocket Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Tuesday, November 18th. Wedbush reaffirmed an “outperform” rating and set a $16.00 price target on shares of Rocket Pharmaceuticals in a research report on Friday, November 7th. Finally, JPMorgan Chase & Co. downgraded Rocket Pharmaceuticals from a “neutral” rating to an “underweight” rating in a research note on Tuesday, November 18th. Eight research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $14.36.

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.