Martin Wilson Sells 12,253 Shares of Rocket Pharmaceuticals (NASDAQ:RCKT) Stock

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) General Counsel Martin Wilson sold 12,253 shares of Rocket Pharmaceuticals stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $3.31, for a total transaction of $40,557.43. Following the sale, the general counsel owned 683,376 shares of the company’s stock, valued at approximately $2,261,974.56. This represents a 1.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Rocket Pharmaceuticals Trading Up 8.4%

Shares of NASDAQ RCKT opened at $3.74 on Friday. Rocket Pharmaceuticals, Inc. has a fifty-two week low of $2.19 and a fifty-two week high of $11.09. The firm has a market capitalization of $404.74 million, a P/E ratio of -1.66 and a beta of 0.48. The company has a debt-to-equity ratio of 0.06, a current ratio of 7.30 and a quick ratio of 7.30. The company’s 50 day simple moving average is $3.50 and its 200 day simple moving average is $3.39.

Institutional Investors Weigh In On Rocket Pharmaceuticals

Hedge funds have recently modified their holdings of the business. Amitell Capital Pte Ltd bought a new stake in Rocket Pharmaceuticals during the 2nd quarter worth approximately $556,000. Maverick Capital Ltd. boosted its holdings in shares of Rocket Pharmaceuticals by 60.9% in the second quarter. Maverick Capital Ltd. now owns 8,363,813 shares of the biotechnology company’s stock valued at $20,491,000 after buying an additional 3,164,595 shares during the period. Bank of Montreal Can acquired a new position in shares of Rocket Pharmaceuticals in the second quarter valued at approximately $181,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Rocket Pharmaceuticals during the second quarter worth $43,000. Finally, Virtus Investment Advisers LLC raised its holdings in shares of Rocket Pharmaceuticals by 134.6% during the second quarter. Virtus Investment Advisers LLC now owns 30,630 shares of the biotechnology company’s stock worth $75,000 after acquiring an additional 17,572 shares during the period. Institutional investors and hedge funds own 98.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on RCKT. Wedbush reaffirmed an “outperform” rating and set a $16.00 price objective on shares of Rocket Pharmaceuticals in a research note on Friday, November 7th. JPMorgan Chase & Co. cut Rocket Pharmaceuticals from a “neutral” rating to an “underweight” rating in a report on Tuesday, November 18th. TD Cowen upgraded Rocket Pharmaceuticals to a “hold” rating in a research report on Friday, December 19th. Morgan Stanley set a $5.00 price target on Rocket Pharmaceuticals in a research note on Thursday, January 8th. Finally, Bank of America reduced their price objective on shares of Rocket Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Tuesday, November 18th. Eight equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $14.36.

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.