Rocket Pharmaceuticals (NASDAQ:RCKT) Insider Sarbani Chaudhuri Sells 4,701 Shares of Stock

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) insider Sarbani Chaudhuri sold 4,701 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The shares were 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 approximately $919,831.50. This represents a 1.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Rocket Pharmaceuticals Trading Down 2.1%

Shares of NASDAQ:RCKT opened at $3.34 on Friday. The firm has a fifty day moving average of $3.37 and a two-hundred day moving average of $3.61. The firm has a market capitalization of $366.67 million, a P/E ratio of -19.65 and a beta of 0.47. Rocket Pharmaceuticals, Inc. has a 12-month low of $2.53 and a 12-month high of $5.45. The company has a quick ratio of 6.12, a current ratio of 6.12 and a debt-to-equity ratio of 0.08.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its quarterly earnings results on Monday, August 10th. The biotechnology company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.22. During the same quarter last year, the company earned ($0.62) earnings per share. On average, equities analysts expect that Rocket Pharmaceuticals, Inc. will post -0.88 EPS for the current fiscal year.

Institutional Trading of Rocket Pharmaceuticals

Several large investors have recently made changes to their positions in RCKT. Ieq Capital LLC acquired a new position in shares of Rocket Pharmaceuticals during the 2nd quarter valued at about $1,506,000. Allworth Financial LP acquired a new stake in Rocket Pharmaceuticals in the 2nd quarter worth approximately $28,000. BlackRock Inc. acquired a new stake in Rocket Pharmaceuticals in the 2nd quarter worth approximately $33,940,000. Pallas Capital Advisors LLC bought a new stake in Rocket Pharmaceuticals during the second quarter worth approximately $47,000. Finally, Deutsche Bank AG bought a new stake in Rocket Pharmaceuticals during the second quarter worth approximately $288,000. Institutional investors own 98.39% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on RCKT shares. Weiss Ratings cut Rocket Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday. Wall Street Zen downgraded shares of Rocket Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Sunday, August 9th. Wedbush dropped their price target on shares of Rocket Pharmaceuticals from $16.00 to $15.00 and set an “outperform” rating on the stock in a research note on Tuesday. Finally, Chardan Capital restated a “buy” rating and set a $11.00 price target on shares of Rocket Pharmaceuticals in a report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $8.57.

About Rocket Pharmaceuticals

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.