Rocket Pharmaceuticals (NASDAQ:RCKT) Insider Sells $67,776.00 in Stock

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) insider Sarbani Chaudhuri sold 17,650 shares of Rocket Pharmaceuticals stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $3.84, for a total value of $67,776.00. Following the completion of the transaction, the insider owned 267,510 shares in the company, valued at approximately $1,027,238.40. This represents a 6.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Rocket Pharmaceuticals Trading Down 1.1%

Shares of NASDAQ RCKT traded down $0.04 during midday trading on Monday, reaching $3.59. The company had a trading volume of 2,228,562 shares, compared to its average volume of 2,192,756. The stock has a market cap of $391.74 million, a PE ratio of -1.92 and a beta of 0.52. Rocket Pharmaceuticals, Inc. has a one year low of $2.19 and a one year high of $7.39. The firm’s fifty day moving average price is $4.06 and its 200-day moving average price is $3.68. 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 Thursday, May 7th. The biotechnology company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.41) by ($0.01). During the same period last year, the company posted ($0.56) earnings per share. On average, equities research analysts anticipate that Rocket Pharmaceuticals, Inc. will post -1.68 earnings per share for the current year.

Hedge Funds Weigh In On Rocket Pharmaceuticals

Several hedge funds have recently made changes to their positions in the business. Federated Hermes Inc. lifted its stake in Rocket Pharmaceuticals by 0.5% in the third quarter. Federated Hermes Inc. now owns 627,567 shares of the biotechnology company’s stock worth $2,046,000 after acquiring an additional 3,264 shares during the period. Barclays PLC increased its position in Rocket Pharmaceuticals by 2.4% during 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 period. Hennion & Walsh Asset Management Inc. increased its position in Rocket Pharmaceuticals by 1.2% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 309,247 shares of the biotechnology company’s stock valued at $1,085,000 after purchasing an additional 3,809 shares during the period. CANADA LIFE ASSURANCE Co raised its holdings in Rocket Pharmaceuticals by 94.4% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 12,202 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 5,926 shares in the last quarter. Finally, Sanctuary Advisors LLC raised its holdings in Rocket Pharmaceuticals by 63.5% in the 4th quarter. Sanctuary Advisors LLC now owns 17,437 shares of the biotechnology company’s stock worth $61,000 after purchasing an additional 6,769 shares in the last quarter. 98.39% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on RCKT shares. Chardan Capital reaffirmed a “buy” rating and issued a $11.00 target price on shares of Rocket Pharmaceuticals in a research note on Monday. Cantor Fitzgerald upped their price target on shares of Rocket Pharmaceuticals from $8.00 to $10.00 and gave the company an “overweight” rating in a report on Friday, February 27th. Weiss Ratings raised shares of Rocket Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, April 24th. Bank of America boosted their price objective on shares of Rocket Pharmaceuticals from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Monday, March 30th. Finally, Lifesci Capital raised shares of Rocket Pharmaceuticals to a “strong-buy” rating in a research note on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target 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.