Rocket Pharmaceuticals (NASDAQ:RCKT) Insider Sarbani Chaudhuri Sells 17,650 Shares of Stock

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) insider Sarbani Chaudhuri sold 17,650 shares of the firm’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $3.84, for a total transaction of $67,776.00. Following the sale, the insider owned 267,510 shares in the company, valued at $1,027,238.40. The trade was a 6.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Rocket Pharmaceuticals Stock Down 1.1%

RCKT opened at $3.59 on Tuesday. The stock has a market cap of $391.74 million, a price-to-earnings ratio of -1.92 and a beta of 0.52. 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’s fifty day moving average is $4.06 and its 200 day moving average is $3.68. Rocket Pharmaceuticals, Inc. has a fifty-two week low of $2.19 and a fifty-two week high of $7.39.

Rocket Pharmaceuticals (NASDAQ:RCKT) last issued its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.01). During the same period last year, the firm posted ($0.56) earnings per share. On average, sell-side analysts forecast that Rocket Pharmaceuticals, Inc. will post -1.68 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rocket Pharmaceuticals

Several institutional investors have recently modified their holdings of the stock. Prudential Financial Inc. bought a new position in shares of Rocket Pharmaceuticals during the 2nd quarter valued at approximately $25,000. CANADA LIFE ASSURANCE Co boosted its stake in Rocket Pharmaceuticals by 94.4% during the second 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 period. Franklin Resources Inc. purchased a new position in Rocket Pharmaceuticals during the fourth quarter worth $38,000. Virtu Financial LLC bought a new position in Rocket Pharmaceuticals during the third quarter valued at $40,000. Finally, Sequoia Financial Advisors LLC bought a new position in Rocket Pharmaceuticals during the fourth quarter valued at $42,000. 98.39% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on RCKT. Weiss Ratings raised Rocket Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, April 24th. Cantor Fitzgerald upped their target price on shares of Rocket Pharmaceuticals from $8.00 to $10.00 and gave the stock an “overweight” rating in a research report on Friday, February 27th. Bank of America raised their target price on shares of Rocket Pharmaceuticals from $8.00 to $9.00 and gave the company a “buy” rating in a research note on Monday, March 30th. Wall Street Zen downgraded shares of Rocket Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Sunday, March 8th. Finally, Lifesci Capital raised Rocket Pharmaceuticals to a “strong-buy” rating in a report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $11.54.

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.