Key Points
- Rocket Pharmaceuticals General Counsel Martin Wilson sold 3,361 shares on May 13 at an average price of $3.61, for proceeds of about $12,133. The sale reduced his ownership by 0.49% and was tied to tax withholding from vested equity awards.
- RCKT shares were down 5.6% and opened at $3.40, leaving the company with a market cap of about $371 million. The stock has traded between $2.19 and $7.14 over the past year.
- Recent earnings missed expectations, with Rocket Pharmaceuticals reporting a quarterly loss of $0.42 per share versus consensus estimates of a $0.41 loss. Analysts currently have a mixed outlook, with an average rating of “Hold” and an average price target of $11.54.
Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Get Free Report) General Counsel Martin Wilson sold 3,361 shares of the company's stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $3.61, for a total transaction of $12,133.21. Following the completion of the sale, the general counsel directly owned 678,639 shares in the company, valued at $2,449,886.79. This trade represents a 0.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 Friday, February 13th, Martin Wilson sold 12,253 shares of Rocket Pharmaceuticals stock. The stock was sold at an average price of $3.31, for a total transaction of $40,557.43.
Rocket Pharmaceuticals Trading Down 5.6%
NASDAQ RCKT opened at $3.40 on Friday. The company has a market capitalization of $371.25 million, a PE ratio of -1.82 and a beta of 0.52. The company has a fifty day moving average of $3.98 and a 200 day moving average of $3.68. Rocket Pharmaceuticals, Inc. has a 1 year low of $2.19 and a 1 year high of $7.14. The company has a debt-to-equity ratio of 0.08, a current ratio of 6.12 and a quick ratio of 6.12.
Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.41) by ($0.01). During the same quarter in the prior year, the firm earned ($0.56) EPS. Research analysts forecast that Rocket Pharmaceuticals, Inc. will post -1.38 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on RCKT shares. The Goldman Sachs Group lifted their price objective on shares of Rocket Pharmaceuticals to $3.00 and gave the company a "sell" rating in a report on Monday, March 2nd. Weiss Ratings raised shares of Rocket Pharmaceuticals from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, April 24th. Wall Street Zen cut shares of Rocket Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Sunday, March 8th. Cantor Fitzgerald boosted their target price on Rocket Pharmaceuticals from $8.00 to $10.00 and gave the stock an "overweight" rating in a report on Friday, February 27th. Finally, Chardan Capital reiterated a "buy" rating and set a $11.00 price objective on shares of Rocket Pharmaceuticals in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $11.54.
View Our Latest Research Report on Rocket Pharmaceuticals
Institutional Investors Weigh In On Rocket Pharmaceuticals
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Prudential Financial Inc. purchased a new position in shares of Rocket Pharmaceuticals during the 2nd quarter worth $25,000. Franklin Resources Inc. acquired a new position in Rocket Pharmaceuticals in the fourth quarter valued at about $38,000. Sequoia Financial Advisors LLC purchased a new position in Rocket Pharmaceuticals during the fourth quarter worth about $42,000. CANADA LIFE ASSURANCE Co increased its position in shares of Rocket Pharmaceuticals by 94.4% during 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 during the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Rocket Pharmaceuticals in the 3rd quarter valued at approximately $40,000. Hedge funds and other institutional investors own 98.39% of the company's stock.
Rocket Pharmaceuticals Company Profile
(
Get Free Report)
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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