Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT – Get Free Report) General Counsel Martin Wilson sold 75,364 shares of Rocket Pharmaceuticals stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $3.40, for a total transaction of $256,237.60. Following the completion of the transaction, the general counsel directly owned 598,489 shares in the company, valued at $2,034,862.60. This trade represents a 11.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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 shares were sold at an average price of $3.38, for a total value of $11,806.34.
Rocket Pharmaceuticals Stock Performance
NASDAQ:RCKT opened at $3.50 on Friday. The stock’s 50-day moving average is $3.51 and its 200-day 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 current ratio of 9.24, a quick ratio of 9.24 and a debt-to-equity ratio of 0.05. The stock has a market cap of $384.23 million, a P/E ratio of -20.59 and a beta of 0.50.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Rocket Pharmaceuticals in the 2nd quarter worth $33,940,000. Monaco Asset Management SAM bought a new position in shares of Rocket Pharmaceuticals during the second quarter valued at about $8,483,000. Maverick Capital Ltd. lifted its position in shares of Rocket Pharmaceuticals by 42.0% during the first quarter. Maverick Capital Ltd. now owns 3,567,372 shares of the biotechnology company’s stock valued at $12,771,000 after purchasing an additional 1,054,262 shares in the last quarter. Bank of America Corp DE purchased a new position in Rocket Pharmaceuticals during the second quarter worth about $2,512,000. Finally, Ieq Capital LLC bought a new stake in Rocket Pharmaceuticals in the 2nd quarter worth about $1,506,000. Institutional investors own 98.39% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on RCKT. Needham & Company LLC raised shares of Rocket Pharmaceuticals from a “hold” rating to a “buy” rating and set a $9.00 target price for the company in a research note on Wednesday. Wedbush reiterated an “outperform” rating and issued a $15.00 price objective on shares of Rocket Pharmaceuticals in a research note on Wednesday. Weiss Ratings downgraded shares of Rocket Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, August 11th. 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, Chardan Capital restated a “buy” rating and issued a $11.00 price target on shares of Rocket Pharmaceuticals in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Rocket Pharmaceuticals presently has an average rating of “Hold” and a consensus target price of $8.62.
Get Our Latest Stock Report on Rocket Pharmaceuticals
Rocket Pharmaceuticals Company Profile
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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