Martin Wilson Sells 12,109 Shares of Rocket Pharmaceuticals (NASDAQ:RCKT) Stock

Key Points

• General Counsel of Rocket Pharmaceuticals, Martin Wilson, sold 12,109 shares at an average price of $3.02, reducing his ownership by 8.12%.
• The company's stock is currently trading around $3.03, reflecting a significant decrease from its one-year high of $22.01.
• Rocket Pharmaceuticals reported a quarterly EPS of ($0.59), missing analysts' expectations, and analysts predict a further decline in earnings for the current fiscal year.

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Get Free Report) General Counsel Martin Wilson sold 12,109 shares of the company's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $3.02, for a total transaction of $36,569.18. Following the sale, the general counsel directly owned 137,054 shares of the company's stock, valued at approximately $413,903.08. This trade represents a 8.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Martin Wilson also recently made the following trade(s):

• On Tuesday, August 19th, Martin Wilson sold 588 shares of Rocket Pharmaceuticals stock. The stock was sold at an average price of $3.00, for a total transaction of $1,764.00.
• On Monday, August 18th, Martin Wilson sold 1,004 shares of Rocket Pharmaceuticals stock. The stock was sold at an average price of $3.06, for a total transaction of $3,072.24.

Rocket Pharmaceuticals Stock Down 2.4%

Rocket Pharmaceuticals stock traded down $0.09 during trading on Friday, reaching $3.64. 7,407,579 shares of the company's stock were exchanged, compared to its average volume of 5,509,566. The company's 50-day moving average is $2.99 and its two-hundred day moving average is $5.62. The company has a debt-to-equity ratio of 0.05, a quick ratio of 6.39 and a current ratio of 6.39. Rocket Pharmaceuticals, Inc. has a 52-week low of $2.19 and a 52-week high of $22.01. The firm has a market cap of $392.76 million, a price-to-earnings ratio of -1.45 and a beta of 0.65.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The biotechnology company reported ($0.59) earnings per share for the quarter, missing analysts' consensus estimates of ($0.57) by ($0.02). During the same period in the previous year, the firm earned ($0.74) EPS. On average, analysts predict that Rocket Pharmaceuticals, Inc. will post -2.83 earnings per share for the current year.

Hedge Funds Weigh In On Rocket Pharmaceuticals

Several large investors have recently modified their holdings of the stock. Maverick Capital Ltd. lifted its position in shares of Rocket Pharmaceuticals by 60.9% during the second quarter. Maverick Capital Ltd. now owns 8,363,813 shares of the biotechnology company's stock worth $20,491,000 after purchasing an additional 3,164,595 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Rocket Pharmaceuticals by 0.6% during the first quarter. Vanguard Group Inc. now owns 6,617,784 shares of the biotechnology company's stock worth $44,141,000 after purchasing an additional 40,189 shares during the last quarter. Westfield Capital Management Co. LP lifted its position in shares of Rocket Pharmaceuticals by 2.3% during the first quarter. Westfield Capital Management Co. LP now owns 4,820,701 shares of the biotechnology company's stock worth $32,154,000 after purchasing an additional 106,091 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Rocket Pharmaceuticals by 111.0% during the fourth quarter. Janus Henderson Group PLC now owns 4,004,039 shares of the biotechnology company's stock worth $50,343,000 after purchasing an additional 2,106,699 shares during the last quarter. Finally, MPM Bioimpact LLC lifted its position in shares of Rocket Pharmaceuticals by 141.2% during the second 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 last quarter. Institutional investors own 98.39% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Chardan Capital reaffirmed a "buy" rating and set a $11.00 price target on shares of Rocket Pharmaceuticals in a research report on Wednesday. JPMorgan Chase & Co. reaffirmed a "neutral" rating on shares of Rocket Pharmaceuticals in a research report on Wednesday, May 28th. Evercore ISI cut shares of Rocket Pharmaceuticals from an "outperform" rating to an "in-line" rating and set a $5.00 price objective for the company. in a research report on Friday, May 30th. Leerink Partnrs cut shares of Rocket Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 27th. Finally, Bank of America raised shares of Rocket Pharmaceuticals from a "neutral" rating to a "buy" rating and upped their price objective for the company from $4.00 to $10.00 in a research report on Wednesday. Eight investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $16.73.

About Rocket Pharmaceuticals

Rocket Pharmaceuticals, Inc, together with its subsidiaries, operates as a late-stage biotechnology company that focuses on developing gene therapies for rare and devastating diseases. It has three clinical-stage ex vivo lentiviral vector programs for fanconi anemia, a genetic defect in the bone marrow that reduces production of blood cells or promotes the production of faulty blood cells; leukocyte adhesion deficiency-I, a genetic disorder that causes the immune system to malfunction; and pyruvate kinase deficiency, a rare red blood cell autosomal recessive disorder that results in chronic non-spherocytic hemolytic anemia.