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

Key Points

• Insider Sarbani Chaudhuri sold 4,872 shares for about $11,352; the sale covered tax withholding on vested equity awards. She retained 257,937 shares.
• Rocket Pharmaceuticals shares were down 3.6% in the reported trading session, at $2.39. The company also reported quarterly EPS of -$0.43, missing analysts’ -$0.40 estimate.
• Analyst sentiment was mixed: MarketBeat reported an average rating of Hold and a consensus price target of $7.77.

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Get Free Report) insider Sarbani Chaudhuri sold 4,872 shares of the 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 transaction, the insider owned 257,937 shares of the company's stock, valued at approximately $600,993.21. This represents a 1.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Rocket Pharmaceuticals Stock Down 3.6%

Shares of NASDAQ:RCKT traded down $0.09 during midday trading on Thursday, reaching $2.39. The company had a trading volume of 954,292 shares, compared to its average volume of 2,454,263. 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 business's 50 day moving average price is $2.77 and its 200 day moving average price is $3.40. The stock has a market cap of $262.37 million, a PE ratio of -14.06 and a beta of 0.51. Rocket Pharmaceuticals, Inc. has a 1-year low of $2.16 and a 1-year high of $5.45.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last announced its quarterly earnings data on Thursday, November 12th. The biotechnology company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.40) by ($0.03). Research analysts forecast that Rocket Pharmaceuticals, Inc. will post -1.36 EPS for the current fiscal year.

Institutional Investors Weigh In On Rocket Pharmaceuticals

Hedge funds have recently made changes to their positions in the stock. Allworth Financial LP acquired a new position in Rocket Pharmaceuticals during the 2nd quarter worth approximately $28,000. Legal & General Group Plc bought a new position in Rocket Pharmaceuticals in the 2nd quarter valued at approximately $31,000. HB Wealth Management LLC bought a new position in Rocket Pharmaceuticals in the 2nd quarter valued at approximately $36,000. Focus Partners Advisor Solutions LLC acquired a new stake in Rocket Pharmaceuticals in the second quarter valued at approximately $41,000. Finally, Optiver Holding B.V. boosted its position in Rocket Pharmaceuticals by 584.1% in the first quarter. Optiver Holding B.V. now owns 12,484 shares of the biotechnology company's stock valued at $45,000 after buying an additional 10,659 shares in the last quarter. 98.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Needham & Company LLC upgraded shares of 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. Leerink Partners reduced their price target on shares of Rocket Pharmaceuticals from $7.00 to $4.00 and set a "market perform" rating on the stock in a research report on Wednesday, October 7th. Chardan Capital reissued a "buy" rating and issued a $11.00 price objective on shares of Rocket Pharmaceuticals in a research note on Wednesday, October 7th. Wedbush reissued an "outperform" rating on shares of Rocket Pharmaceuticals in a research note on Wednesday, October 7th. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of Rocket Pharmaceuticals in a research report on Wednesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Rocket Pharmaceuticals currently has an average rating of "Hold" and a consensus target price of $7.77.

Rocket Pharmaceuticals Company Profile

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.

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