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

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) insider Sarbani Chaudhuri sold 4,701 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider directly owned 262,809 shares in the company, valued at $919,831.50. This represents a 1.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Rocket Pharmaceuticals Price Performance

Shares of RCKT stock traded down $0.07 during trading on Thursday, hitting $3.34. The company had a trading volume of 1,108,787 shares, compared to its average volume of 2,723,649. The company has a debt-to-equity ratio of 0.08, a quick ratio of 6.12 and a current ratio of 6.12. The firm has a market capitalization of $366.67 million, a P/E ratio of -19.65 and a beta of 0.47. The stock’s 50-day moving average price is $3.36 and its 200 day moving average price is $3.61. Rocket Pharmaceuticals, Inc. has a one year low of $2.53 and a one year high of $5.45.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its quarterly earnings data on Monday, August 10th. The biotechnology company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.22. During the same period in the prior year, the business posted ($0.62) EPS. Equities analysts expect that Rocket Pharmaceuticals, Inc. will post -1.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Rocket Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in RCKT. Barclays PLC increased its stake in shares of Rocket Pharmaceuticals by 2.4% in the 4th quarter. Barclays PLC now owns 153,049 shares of the biotechnology company’s stock valued at $537,000 after purchasing an additional 3,656 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its position in shares of Rocket Pharmaceuticals by 94.4% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 12,202 shares of the biotechnology company’s stock worth $29,000 after buying an additional 5,926 shares during the last quarter. Sanctuary Advisors LLC boosted its stake in Rocket Pharmaceuticals by 63.5% in the fourth quarter. Sanctuary Advisors LLC now owns 17,437 shares of the biotechnology company’s stock valued at $61,000 after buying an additional 6,769 shares in the last quarter. Rice Hall James & Associates LLC boosted its stake in Rocket Pharmaceuticals by 8.1% in the first quarter. Rice Hall James & Associates LLC now owns 91,887 shares of the biotechnology company’s stock valued at $329,000 after buying an additional 6,900 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its position in Rocket Pharmaceuticals by 44.0% in the fourth quarter. Quadrant Capital Group LLC now owns 23,096 shares of the biotechnology company’s stock valued at $81,000 after acquiring an additional 7,056 shares during the last quarter. 98.39% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Wedbush decreased their price target on Rocket Pharmaceuticals from $16.00 to $15.00 and set an “outperform” rating on the stock in a research report on Tuesday. Wall Street Zen cut shares of Rocket Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Sunday. Chardan Capital reiterated a “buy” rating and set a $11.00 price objective on shares of Rocket Pharmaceuticals in a research note on Monday, May 11th. Finally, Weiss Ratings lowered shares of Rocket Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus 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.