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

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) insider Sarbani Chaudhuri sold 4,872 shares of Rocket Pharmaceuticals stock in a transaction dated 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 sale, the insider directly owned 257,937 shares in the company, valued at approximately $600,993.21. This represents a 1.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Rocket Pharmaceuticals Stock Performance

RCKT traded down $0.09 during midday trading on Friday, reaching $2.30. The company had a trading volume of 1,783,515 shares, compared to its average volume of 1,656,121. The company has a debt-to-equity ratio of 0.05, a quick ratio of 9.24 and a current ratio of 9.24. The stock has a market cap of $252.48 million, a PE ratio of -15.33 and a beta of 0.51. Rocket Pharmaceuticals, Inc. has a 12-month low of $2.16 and a 12-month high of $5.45. The business has a 50-day moving average price of $2.71 and a two-hundred day moving average price of $3.39.

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

Institutional Trading of Rocket Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. bought a new position in Rocket Pharmaceuticals in the 2nd quarter worth approximately $33,940,000. Maverick Capital Ltd. raised its holdings in Rocket Pharmaceuticals by 42.0% during the 1st quarter. Maverick Capital Ltd. now owns 3,567,372 shares of the biotechnology company’s stock valued at $12,771,000 after acquiring an additional 1,054,262 shares during the period. Monaco Asset Management SAM purchased a new stake in shares of Rocket Pharmaceuticals during the second quarter worth $8,483,000. Opaleye Management Inc. lifted its position in shares of Rocket Pharmaceuticals by 4.7% during the second quarter. Opaleye Management Inc. now owns 1,000,000 shares of the biotechnology company’s stock worth $3,420,000 after acquiring an additional 45,000 shares in the last quarter. Finally, Bank of America Corp DE purchased a new stake in shares of Rocket Pharmaceuticals during the second quarter worth $2,512,000. Institutional investors own 98.39% of the company’s stock.

Analyst Upgrades and Downgrades

RCKT has been the subject of a number of recent research reports. Needham & Company LLC raised Rocket Pharmaceuticals from a “hold” rating to a “buy” rating and set a $9.00 target price for the company in a research report on Wednesday, September 16th. Wall Street Zen lowered Rocket Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday. 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 research note on Wednesday, November 4th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Rocket Pharmaceuticals in a report on Wednesday, October 7th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $7.77.

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.