Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) General Counsel Martin Wilson Sells 12,109 Shares

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 business's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $3.02, for a total value of $36,569.18. Following the completion of the transaction, the general counsel directly owned 137,054 shares in the company, 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 is available at this hyperlink.

Rocket Pharmaceuticals Stock Performance

Shares of RCKT stock traded down $0.02 on Monday, hitting $3.03. 1,614,041 shares of the stock were exchanged, compared to its average volume of 3,323,091. The company has a current ratio of 6.39, a quick ratio of 6.39 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $326.94 million, a PE ratio of -1.21 and a beta of 0.65. Rocket Pharmaceuticals, Inc. has a one year low of $2.19 and a one year high of $22.01. The firm's 50 day moving average is $2.96 and its two-hundred day moving average is $5.84.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Morgan Stanley reaffirmed an "equal weight" rating and set a $7.00 target price on shares of Rocket Pharmaceuticals in a research report on Wednesday, May 28th. Evercore ISI lowered Rocket Pharmaceuticals from an "outperform" rating to an "in-line" rating and set a $5.00 target price on the stock. in a research report on Friday, May 30th. Jefferies Financial Group reissued a "hold" rating on shares of Rocket Pharmaceuticals in a research report on Wednesday, May 28th. BMO Capital Markets lowered their price target on Rocket Pharmaceuticals from $30.00 to $8.00 and set an "outperform" rating for the company in a research report on Wednesday, May 28th. Finally, The Goldman Sachs Group lowered Rocket Pharmaceuticals from a "neutral" rating to a "sell" rating in a research report on Wednesday, May 28th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Rocket Pharmaceuticals presently has an average rating of "Hold" and an average price target of $16.33.

Institutional Trading of Rocket Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the business. Virtus ETF Advisers LLC raised its holdings in shares of Rocket Pharmaceuticals by 40.4% during the 4th quarter. Virtus ETF Advisers LLC now owns 5,656 shares of the biotechnology company's stock valued at $71,000 after buying an additional 1,628 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Rocket Pharmaceuticals by 83.6% during the 1st quarter. Signaturefd LLC now owns 9,024 shares of the biotechnology company's stock valued at $60,000 after buying an additional 4,108 shares in the last quarter. Prudential Financial Inc. purchased a new position in shares of Rocket Pharmaceuticals during the 2nd quarter valued at about $25,000. Hsbc Holdings PLC purchased a new position in shares of Rocket Pharmaceuticals during the 1st quarter valued at about $69,000. Finally, Mariner LLC purchased a new position in shares of Rocket Pharmaceuticals during the 4th quarter valued at about $139,000. Hedge funds and other institutional investors own 98.39% of the company's stock.

Rocket Pharmaceuticals Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.