Sarbani Chaudhuri Sells 17,650 Shares of Rocket Pharmaceuticals (NASDAQ:RCKT) Stock

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) insider Sarbani Chaudhuri sold 17,650 shares of the stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $3.84, for a total transaction of $67,776.00. Following the completion of the transaction, the insider directly owned 267,510 shares of the company’s stock, valued at approximately $1,027,238.40. The trade was a 6.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Rocket Pharmaceuticals Stock Down 1.1%

Rocket Pharmaceuticals stock traded down $0.04 during trading hours on Monday, hitting $3.59. 2,228,562 shares of the stock traded hands, compared to its average volume of 2,192,756. Rocket Pharmaceuticals, Inc. has a one year low of $2.19 and a one year high of $7.39. The firm’s 50-day moving average price is $4.06 and its two-hundred day moving average price is $3.68. The company has a current ratio of 6.12, a quick ratio of 6.12 and a debt-to-equity ratio of 0.08. The company has a market cap of $391.74 million, a PE ratio of -1.92 and a beta of 0.52.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its 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 in the previous year, the company earned ($0.56) earnings per share. On average, research analysts forecast that Rocket Pharmaceuticals, Inc. will post -1.68 EPS for the current year.

Institutional Investors Weigh In On Rocket Pharmaceuticals

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Rocket Pharmaceuticals by 12.6% in the 3rd quarter. Vanguard Group Inc. now owns 6,892,204 shares of the biotechnology company’s stock worth $22,469,000 after purchasing an additional 769,743 shares during the last quarter. MPM Bioimpact LLC increased its stake in Rocket Pharmaceuticals by 141.2% during the 2nd quarter. MPM Bioimpact LLC now owns 3,903,081 shares of the biotechnology company’s stock valued at $9,563,000 after purchasing an additional 2,284,816 shares in the last quarter. Millennium Management LLC raised its holdings in Rocket Pharmaceuticals by 52.0% in the third quarter. Millennium Management LLC now owns 3,570,391 shares of the biotechnology company’s stock worth $11,639,000 after buying an additional 1,221,554 shares during the last quarter. Monaco Asset Management SAM raised its holdings in Rocket Pharmaceuticals by 3.3% in the fourth quarter. Monaco Asset Management SAM now owns 2,987,296 shares of the biotechnology company’s stock worth $10,485,000 after buying an additional 95,035 shares during the last quarter. Finally, Newtyn Management LLC lifted its stake in shares of Rocket Pharmaceuticals by 25.1% in the third quarter. Newtyn Management LLC now owns 2,502,863 shares of the biotechnology company’s stock worth $8,159,000 after buying an additional 502,863 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 equities analysts have commented on the company. Weiss Ratings raised Rocket Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, April 24th. Bank of America upped their target price on shares of Rocket Pharmaceuticals from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Monday, March 30th. Lifesci Capital raised shares of Rocket Pharmaceuticals to a “strong-buy” rating in a research report on Thursday, February 26th. Cantor Fitzgerald boosted their price objective on shares of Rocket Pharmaceuticals from $8.00 to $10.00 and gave the stock an “overweight” rating in a research note on Friday, February 27th. Finally, The Goldman Sachs Group upped their price objective on shares of Rocket Pharmaceuticals to $3.00 and gave the stock a “sell” rating in a report on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Rocket Pharmaceuticals has an average rating of “Hold” and an average target price of $11.54.

Rocket Pharmaceuticals Company Profile

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.