Rocket Pharmaceuticals (NASDAQ:RCKT) General Counsel Martin Wilson Sells 75,364 Shares of Stock

Key Points

• Rocket Pharmaceuticals General Counsel Martin Wilson sold 75,364 shares at an average price of $3.40, worth $256,237.60. The sale reduced his direct holdings by 11.18% and was made to cover tax withholding tied to vested equity awards.
• Rocket shares recently traded near $3.41, with a market capitalization of approximately $374 million. The company reported quarterly earnings of $1.08 per share, exceeding analysts’ $0.86 consensus estimate.
• Analysts maintain a mixed outlook, resulting in a consensus “Hold” rating and an average price target of $8.57; institutional investors own approximately 98.39% of the stock.

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Get Free Report) General Counsel Martin Wilson sold 75,364 shares of the stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $3.40, for a total transaction of $256,237.60. Following the sale, the general counsel directly owned 598,489 shares in the company, valued at approximately $2,034,862.60. This represents a 11.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 transaction of $11,806.34.

Rocket Pharmaceuticals Price Performance

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

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The biotechnology company reported $1.08 earnings per share for the quarter, beating analysts' consensus estimates of $0.86 by $0.22. During the same quarter last year, the business posted ($0.62) earnings per share. Sell-side analysts forecast that Rocket Pharmaceuticals, Inc. will post -1.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Wedbush cut their price target on Rocket Pharmaceuticals from $16.00 to $15.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 11th. Chardan Capital restated a "buy" rating and set a $11.00 target price on shares of Rocket Pharmaceuticals in a research report on Tuesday. Wall Street Zen raised shares of Rocket Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Monday, August 17th. Finally, Weiss Ratings cut shares of Rocket Pharmaceuticals from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $8.57.

Hedge Funds Weigh In On Rocket Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RCKT. Allworth Financial LP bought a new stake in shares of Rocket Pharmaceuticals in the 2nd quarter valued at about $28,000. Legal & General Group Plc acquired a new stake in shares of Rocket Pharmaceuticals in the 2nd quarter valued at approximately $31,000. HB Wealth Management LLC bought a new position in Rocket Pharmaceuticals during the 2nd quarter worth approximately $36,000. Focus Partners Advisor Solutions LLC bought a new position in Rocket Pharmaceuticals during the 2nd quarter worth approximately $41,000. Finally, Sequoia Financial Advisors LLC acquired a new position in Rocket Pharmaceuticals during the fourth quarter valued at approximately $42,000. Institutional investors own 98.39% of the company's stock.

About Rocket Pharmaceuticals

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.

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