Sarbani Chaudhuri Sells 4,701 Shares of Rocket Pharmaceuticals (NASDAQ:RCKT) Stock

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) insider Sarbani Chaudhuri sold 4,701 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $3.50, for a total value of $16,453.50. Following the completion of the transaction, the insider directly owned 262,809 shares of the company’s stock, valued at $919,831.50. This represents a 1.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Rocket Pharmaceuticals Price Performance

Shares of NASDAQ RCKT opened at $3.47 on Friday. The company has a quick ratio of 6.12, a current ratio of 9.24 and a debt-to-equity ratio of 0.05. Rocket Pharmaceuticals, Inc. has a fifty-two week low of $2.53 and a fifty-two week high of $5.45. The business has a 50 day moving average price of $3.38 and a two-hundred day moving average price of $3.61. The firm has a market cap of $380.94 million, a PE ratio of -20.41 and a beta of 0.47.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its earnings results on Monday, August 10th. The biotechnology company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.22. During the same period last year, the business earned ($0.62) earnings per share. Sell-side analysts expect that Rocket Pharmaceuticals, Inc. will post -1.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in RCKT. BlackRock Inc. acquired a new stake in shares of Rocket Pharmaceuticals during the 2nd quarter valued at approximately $33,940,000. Vanguard Group Inc. lifted its stake in Rocket Pharmaceuticals by 12.6% during the third 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 lifted its stake in Rocket Pharmaceuticals by 141.2% during the second quarter. MPM Bioimpact LLC now owns 3,903,081 shares of the biotechnology company’s stock worth $9,563,000 after purchasing an additional 2,284,816 shares during the last quarter. Millennium Management LLC boosted 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 purchasing an additional 1,221,554 shares during the period. Finally, Maverick Capital Ltd. boosted its holdings in Rocket Pharmaceuticals by 42.0% in the first quarter. Maverick Capital Ltd. now owns 3,567,372 shares of the biotechnology company’s stock worth $12,771,000 after purchasing an additional 1,054,262 shares during the period. Institutional investors and hedge funds own 98.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Weiss Ratings downgraded shares of Rocket Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday. Chardan Capital reissued a “buy” rating and set a $11.00 price objective on shares of Rocket Pharmaceuticals in a report on Monday, May 11th. Wedbush dropped their target price on shares of Rocket Pharmaceuticals from $16.00 to $15.00 and set an “outperform” rating for the company in a research report on Tuesday. Finally, Wall Street Zen lowered shares of Rocket Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Sunday, August 9th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Rocket Pharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $8.57.

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.