Key Points
- Rocket Pharmaceuticals General Counsel Martin Wilson sold 75,364 shares at an average price of $3.40, totaling $256,237.60. The sale reduced his holdings by 11.18% and was intended to cover tax withholding tied to vested equity awards.
- RCKT shares opened at $3.41, with the company valued at approximately $374.35 million. Rocket reported quarterly EPS of $1.08, exceeding analysts’ $0.86 consensus estimate.
- Institutional investors own 98.39% of the stock, while analyst sentiment is mixed: Rocket has an average rating of “Hold” and an average price target of $8.57 versus its recent trading price near $3.41.
Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Get Free Report) General Counsel Martin Wilson sold 75,364 shares of the firm's stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $3.40, for a total value of $256,237.60. Following the transaction, the general counsel owned 598,489 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which is available 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 Tuesday, August 18th, Martin Wilson sold 631 shares of Rocket Pharmaceuticals stock. The stock was 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 transaction of $11,806.34.
Rocket Pharmaceuticals Trading Down 0.6%
Shares of RCKT stock opened at $3.41 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 9.24 and a current ratio of 9.24. The stock has a market capitalization of $374.35 million, a P/E ratio of -20.06 and a beta of 0.50. The company has a 50 day moving average price of $3.54 and a 200 day moving average price of $3.63. Rocket Pharmaceuticals, Inc. has a fifty-two week low of $2.53 and a fifty-two week high of $5.45.
Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last released its earnings results on Monday, August 10th. The biotechnology company reported $1.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.86 by $0.22. During the same quarter last year, the business earned ($0.62) EPS. Equities research analysts predict that Rocket Pharmaceuticals, Inc. will post -1.36 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in RCKT. Opaleye Management Inc. raised its position in shares of Rocket Pharmaceuticals by 4.7% during the 2nd quarter. Opaleye Management Inc. now owns 1,000,000 shares of the biotechnology company's stock worth $3,420,000 after acquiring an additional 45,000 shares in the last quarter. Squarepoint Ops LLC increased its stake in Rocket Pharmaceuticals by 524.9% in the second quarter. Squarepoint Ops LLC now owns 181,147 shares of the biotechnology company's stock valued at $620,000 after purchasing an additional 152,161 shares during the last quarter. Corient Private Wealth LP raised its holdings in Rocket Pharmaceuticals by 17.0% during the second quarter. Corient Private Wealth LP now owns 37,819 shares of the biotechnology company's stock worth $129,000 after purchasing an additional 5,501 shares in the last quarter. HB Wealth Management LLC purchased a new stake in shares of Rocket Pharmaceuticals during the 2nd quarter worth approximately $36,000. Finally, Wellington Management Group LLP purchased a new stake in shares of Rocket Pharmaceuticals during the 2nd quarter worth approximately $211,000. 98.39% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research analysts recently commented on the company. Weiss Ratings cut Rocket Pharmaceuticals from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Tuesday, August 11th. Wedbush decreased their price objective on Rocket Pharmaceuticals from $16.00 to $15.00 and set an "outperform" rating for the company in a research note on Tuesday, August 11th. Wall Street Zen raised Rocket Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Monday, August 17th. Finally, Chardan Capital reiterated a "buy" rating and issued a $11.00 price target on shares of Rocket Pharmaceuticals in a research note on Tuesday. One investment 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat, Rocket Pharmaceuticals presently has an average rating of "Hold" and an average target price of $8.57.
Get Our Latest Report on RCKT
Rocket Pharmaceuticals Company Profile
(
Get Free Report)
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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