Key Points
- Rocket Pharmaceuticals COO Christopher James Stevens sold 36,658 shares at an average price of $3.50, generating $128,303. The sale covered tax-withholding obligations tied to vested equity awards, reducing his direct ownership by 6.76%.
- Rocket reported quarterly EPS of $1.08, beating analysts’ $0.86 consensus estimate. Shares opened at $3.34, near their 50-day average of $3.37 and below the 12-month high of $5.45.
- Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $8.57. Institutional investors own 98.39% of the company, while recent analyst actions included a Wedbush target cut and new sell-rating downgrades.
Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Get Free Report) insider Sarbani Chaudhuri sold 4,701 shares of Rocket Pharmaceuticals stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $3.50, for a total transaction of $16,453.50. Following the completion of the transaction, the insider owned 262,809 shares in the company, valued at $919,831.50. This trade represents a 1.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Rocket Pharmaceuticals Stock Down 2.1%
Rocket Pharmaceuticals stock opened at $3.34 on Friday. 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, Inc. has a fifty-two week low of $2.53 and a fifty-two week high of $5.45. The firm has a fifty day moving average price of $3.37 and a two-hundred day moving average price of $3.61. The firm has a market cap of $366.67 million, a price-to-earnings ratio of -19.65 and a beta of 0.47.
Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The biotechnology company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.22. During the same period last year, the company earned ($0.62) earnings per share. As a group, analysts forecast that Rocket Pharmaceuticals, Inc. will post -0.88 earnings per share for the current year.
Analysts Set New Price Targets
A number of analysts have issued reports on RCKT shares. Wedbush lowered their target price on Rocket Pharmaceuticals from $16.00 to $15.00 and set an "outperform" rating on the stock in a report on Tuesday. Weiss Ratings lowered Rocket Pharmaceuticals from a "sell (d-)" rating to a "sell (e+)" rating in a report on Tuesday. Chardan Capital reiterated a "buy" rating and set a $11.00 price target on shares of Rocket Pharmaceuticals in a report on Monday, May 11th. Finally, Wall Street Zen cut Rocket Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Sunday, August 9th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Rocket Pharmaceuticals currently has a consensus rating of "Hold" and a consensus price target of $8.57.
Read Our Latest Stock Report on RCKT
Institutional Trading of Rocket Pharmaceuticals
Institutional investors and hedge funds have recently modified their holdings of the company. Maverick Capital Ltd. increased its holdings in Rocket Pharmaceuticals by 42.0% in the 1st quarter. Maverick Capital Ltd. now owns 3,567,372 shares of the biotechnology company's stock valued at $12,771,000 after buying an additional 1,054,262 shares during the period. Renaissance Technologies LLC raised its stake in shares of Rocket Pharmaceuticals by 51.3% in the 1st quarter. Renaissance Technologies LLC now owns 637,174 shares of the biotechnology company's stock valued at $2,281,000 after buying an additional 216,000 shares in the last quarter. Rice Hall James & Associates LLC lifted its holdings in shares of Rocket Pharmaceuticals by 8.1% during the 1st quarter. Rice Hall James & Associates LLC now owns 91,887 shares of the biotechnology company's stock worth $329,000 after acquiring an additional 6,900 shares during the period. Sequoia Financial Advisors LLC boosted its position in shares of Rocket Pharmaceuticals by 68.9% during the 1st quarter. Sequoia Financial Advisors LLC now owns 20,349 shares of the biotechnology company's stock valued at $73,000 after acquiring an additional 8,298 shares in the last quarter. Finally, Ground Swell Capital LLC acquired a new stake in shares of Rocket Pharmaceuticals during the 1st quarter valued at about $50,000. 98.39% of the stock is currently owned by institutional investors.
About Rocket Pharmaceuticals
(
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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