Rocket Pharmaceuticals (NASDAQ:RCKT) Insider Sarbani Chaudhuri Sells 4,872 Shares of Company Stock

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) insider Sarbani Chaudhuri sold 4,872 shares of the company’s stock in a transaction on Monday, November 9th. The stock was 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 $600,993.21. This trade represents a 1.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Rocket Pharmaceuticals Trading Down 3.6%

NASDAQ RCKT opened at $2.39 on Friday. The stock’s 50-day simple moving average is $2.74 and its two-hundred day simple moving average is $3.40. Rocket Pharmaceuticals, Inc. has a twelve month low of $2.16 and a twelve month high of $5.45. The company has a quick ratio of 9.24, a current ratio of 9.24 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $262.37 million, a price-to-earnings ratio of -14.06 and a beta of 0.51.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its quarterly earnings results on Thursday, November 12th. The biotechnology company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.03). Research analysts forecast that Rocket Pharmaceuticals, Inc. will post -1.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on RCKT shares. Chardan Capital reaffirmed a “buy” rating and set a $11.00 price target on shares of Rocket Pharmaceuticals in a research report on Wednesday, October 7th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Rocket Pharmaceuticals in a report on Wednesday, November 4th. Wedbush reissued an “outperform” rating on shares of Rocket Pharmaceuticals in a research note on Wednesday, October 7th. Cantor Fitzgerald reissued an “overweight” rating on shares of Rocket Pharmaceuticals in a research note on Wednesday, October 7th. Finally, The Goldman Sachs Group raised Rocket Pharmaceuticals from a “sell” rating to a “neutral” rating and raised their price target for the stock from $3.00 to $4.00 in a report on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Rocket Pharmaceuticals presently has an average rating of “Hold” and an average target price of $7.77.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Sanders Morris Harris LLC acquired a new position in shares of Rocket Pharmaceuticals in the third quarter valued at approximately $73,000. Opaleye Management Inc. lifted its holdings in Rocket Pharmaceuticals by 4.7% during the 2nd quarter. Opaleye Management Inc. now owns 1,000,000 shares of the biotechnology company’s stock worth $3,420,000 after buying an additional 45,000 shares in the last quarter. Squarepoint Ops LLC boosted its position in Rocket Pharmaceuticals by 524.9% in the 2nd quarter. Squarepoint Ops LLC now owns 181,147 shares of the biotechnology company’s stock valued at $620,000 after buying an additional 152,161 shares during the period. Corient Private Wealth LP boosted its position in Rocket Pharmaceuticals by 17.0% in the 2nd quarter. Corient Private Wealth LP now owns 37,819 shares of the biotechnology company’s stock valued at $129,000 after buying an additional 5,501 shares during the period. Finally, HB Wealth Management LLC purchased a new position in Rocket Pharmaceuticals in the 2nd quarter valued at approximately $36,000. 98.39% of the stock is currently owned by hedge funds and other institutional investors.

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.