Rocket Pharmaceuticals (NASDAQ:RCKT) COO Christopher James Stevens Sells 36,658 Shares of Stock

Key Points

• Rocket Pharmaceuticals COO Christopher James Stevens sold 36,658 shares at an average price of $3.50, generating $128,303; the filing said the sale covered tax withholding tied to vested equity awards. He retained 505,784 shares afterward.
• RCKT shares recently traded at $3.34, with the stock down near its 50-day average and well below its one-year high of $5.45. The company reported quarterly EPS of $1.08, beating the $0.86 analyst consensus, though full-year EPS is projected at -$1.16.
• Analyst sentiment is mixed, resulting in a consensus “Hold” rating and an average price target of $8.57; institutional investors own 98.39% of the company.

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Get Free Report) COO Christopher James Stevens sold 36,658 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $3.50, for a total value of $128,303.00. Following the transaction, the chief operating officer owned 505,784 shares of the company's stock, valued at $1,770,244. This represents a 6.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Rocket Pharmaceuticals Price Performance

Shares of RCKT stock traded down $0.07 on Thursday, reaching $3.34. The company's stock had a trading volume of 1,108,787 shares, compared to its average volume of 2,723,649. The stock's fifty day simple moving average is $3.36 and its 200-day simple moving average is $3.61. Rocket Pharmaceuticals, Inc. has a 1 year low of $2.53 and a 1 year high of $5.45. The company has a market capitalization of $366.67 million, a price-to-earnings ratio of -19.65 and a beta of 0.47. The company has a current ratio of 6.12, a quick ratio of 6.12 and a debt-to-equity ratio of 0.08.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last released its quarterly earnings results on Monday, August 10th. The biotechnology company reported $1.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.86 by $0.22. During the same quarter in the previous year, the company posted ($0.62) EPS. Analysts forecast that Rocket Pharmaceuticals, Inc. will post -1.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of RCKT. Barclays PLC raised its stake in shares of Rocket Pharmaceuticals by 2.4% during the 4th quarter. Barclays PLC now owns 153,049 shares of the biotechnology company's stock worth $537,000 after acquiring an additional 3,656 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its stake 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 valued at $29,000 after acquiring an additional 5,926 shares in the last quarter. Sanctuary Advisors LLC boosted its stake in Rocket Pharmaceuticals by 63.5% in the fourth quarter. Sanctuary Advisors LLC now owns 17,437 shares of the biotechnology company's stock valued at $61,000 after acquiring an additional 6,769 shares in the last quarter. Rice Hall James & Associates LLC grew its holdings in Rocket Pharmaceuticals by 8.1% in the first quarter. Rice Hall James & Associates LLC now owns 91,887 shares of the biotechnology company's stock worth $329,000 after purchasing an additional 6,900 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its holdings in Rocket Pharmaceuticals by 44.0% in the fourth quarter. Quadrant Capital Group LLC now owns 23,096 shares of the biotechnology company's stock worth $81,000 after purchasing an additional 7,056 shares during the last quarter. Institutional investors own 98.39% of the company's stock.

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.

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