Rocket Pharmaceuticals (NASDAQ:RCKT) Insider Sells $67,776.00 in Stock

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) insider Sarbani Chaudhuri sold 17,650 shares of the company’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $3.84, for a total value of $67,776.00. Following the completion of the sale, the insider owned 267,510 shares of the company’s stock, valued at $1,027,238.40. This represents a 6.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Rocket Pharmaceuticals Trading Down 1.1%

NASDAQ RCKT opened at $3.60 on Thursday. The stock has a 50-day simple moving average of $4.00 and a 200 day simple moving average of $3.68. The company has a market capitalization of $393.08 million, a PE ratio of -1.93 and a beta of 0.52. The company has a current ratio of 6.12, a quick ratio of 6.12 and a debt-to-equity ratio of 0.08. Rocket Pharmaceuticals, Inc. has a 12 month low of $2.19 and a 12 month high of $7.14.

Rocket Pharmaceuticals (NASDAQ:RCKT) last released its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.01). During the same quarter last year, the company posted ($0.56) earnings per share. Research analysts forecast that Rocket Pharmaceuticals, Inc. will post -1.58 EPS for the current year.

Institutional Investors Weigh In On Rocket Pharmaceuticals

Large investors have recently modified their holdings of the business. Prudential Financial Inc. bought a new stake in shares of Rocket Pharmaceuticals in the second quarter worth about $25,000. Franklin Resources Inc. bought a new stake in shares of Rocket Pharmaceuticals in the fourth quarter worth about $38,000. Sequoia Financial Advisors LLC bought a new stake in shares of Rocket Pharmaceuticals in the fourth quarter worth about $42,000. CANADA LIFE ASSURANCE Co increased its holdings in shares of Rocket Pharmaceuticals by 94.4% in the second quarter. CANADA LIFE ASSURANCE Co now owns 12,202 shares of the biotechnology company’s stock worth $29,000 after acquiring an additional 5,926 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of Rocket Pharmaceuticals in the third quarter worth about $40,000. 98.39% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RCKT has been the subject of a number of recent analyst reports. Bank of America upped their price objective on Rocket Pharmaceuticals from $8.00 to $9.00 and gave the company a “buy” rating in a report on Monday, March 30th. The Goldman Sachs Group upped their price objective on Rocket Pharmaceuticals to $3.00 and gave the company a “sell” rating in a report on Monday, March 2nd. Weiss Ratings upgraded Rocket Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, April 24th. Cantor Fitzgerald upped their price objective on Rocket Pharmaceuticals from $8.00 to $10.00 and gave the company an “overweight” rating in a report on Friday, February 27th. Finally, Wall Street Zen downgraded Rocket Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Sunday, March 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $11.54.

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.