Rocket Pharmaceuticals (NASDAQ:RCKT) Insider Sells $11,351.76 in Stock

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) insider Sarbani Chaudhuri sold 4,872 shares of the company’s stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $2.33, for a total transaction of $11,351.76. Following the completion of the transaction, the insider owned 257,937 shares of the company’s stock, valued at approximately $600,993.21. This trade represents a 1.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Rocket Pharmaceuticals Trading Down 3.6%

Shares of RCKT stock traded down $0.09 during trading hours on Thursday, hitting $2.39. 954,292 shares of the company’s stock traded hands, compared to its average volume of 2,454,263. The stock has a market cap of $262.37 million, a PE ratio of -14.06 and a beta of 0.51. The stock’s 50 day simple moving average is $2.77 and its 200 day simple moving average is $3.40. The company has a quick ratio of 9.24, a current ratio of 9.24 and a debt-to-equity ratio of 0.05. Rocket Pharmaceuticals, Inc. has a 12 month low of $2.16 and a 12 month high of $5.45.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its quarterly earnings data on Thursday, November 12th. The biotechnology company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.03). On average, sell-side analysts anticipate that Rocket Pharmaceuticals, Inc. will post -1.36 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on RCKT. Chardan Capital reiterated a “buy” rating and set a $11.00 price objective on shares of Rocket Pharmaceuticals in a research report on Wednesday, October 7th. Wedbush restated an “outperform” rating on shares of Rocket Pharmaceuticals in a report on Wednesday, October 7th. Wall Street Zen raised shares of Rocket Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, August 17th. Jefferies Financial Group reissued a “hold” rating and issued a $2.95 price objective on shares of Rocket Pharmaceuticals in a research report on Wednesday, October 7th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Rocket Pharmaceuticals in a research note on Wednesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $7.77.

Institutional Trading of Rocket Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. Corient Private Wealth LP grew its stake in Rocket Pharmaceuticals by 17.0% in the second quarter. Corient Private Wealth LP now owns 37,819 shares of the biotechnology company’s stock valued at $129,000 after acquiring an additional 5,501 shares during the period. Rice Hall James & Associates LLC lifted its position in Rocket Pharmaceuticals by 8.1% in the 1st quarter. Rice Hall James & Associates LLC now owns 91,887 shares of the biotechnology company’s stock valued at $329,000 after acquiring an additional 6,900 shares in the last quarter. Allworth Financial LP bought a new position in Rocket Pharmaceuticals in the 2nd quarter valued at about $28,000. Sequoia Financial Advisors LLC boosted its stake in Rocket Pharmaceuticals by 68.9% during the 1st quarter. Sequoia Financial Advisors LLC now owns 20,349 shares of the biotechnology company’s stock valued at $73,000 after purchasing an additional 8,298 shares during the last quarter. Finally, Legal & General Group Plc acquired a new position in Rocket Pharmaceuticals during the 2nd quarter valued at about $31,000. Institutional investors own 98.39% of the company’s stock.

About Rocket Pharmaceuticals

Rocket Pharmaceuticals, Inc. is a biotechnology company developing gene therapies for rare, serious diseases, with a focus on inherited disorders that often affect children. Its research programs use lentiviral and adeno-associated viral (AAV) vector technologies to deliver therapeutic genes to patients’ cells. The company’s pipeline has included programs targeting conditions such as Fanconi anemia, leukocyte adhesion deficiency-I, pyruvate kinase deficiency, Danon disease and arrhythmogenic cardiomyopathy.