Insider Selling: Rocket Pharmaceuticals (NASDAQ:RCKT) Insider Sells $11,351.76 in Stock

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) insider Sarbani Chaudhuri sold 4,872 shares of the business’s stock in a transaction on Monday, November 9th. The shares were sold at an average price of $2.33, for a total transaction of $11,351.76. Following the sale, the insider owned 257,937 shares of the company’s stock, valued at $600,993.21. This trade represents a 1.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Rocket Pharmaceuticals Stock Down 3.8%

RCKT traded down $0.09 during trading on Friday, hitting $2.30. 1,783,515 shares of the company’s stock were exchanged, compared to its average volume of 1,656,121. 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 is $2.71 and its two-hundred day moving average is $3.39. Rocket Pharmaceuticals, Inc. has a fifty-two week low of $2.16 and a fifty-two week high of $5.45. The stock has a market cap of $252.48 million, a P/E ratio of -15.33 and a beta of 0.51.

Rocket Pharmaceuticals (NASDAQ:RCKT) last released its quarterly earnings data on Thursday, November 12th. The biotechnology company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.03). As a group, equities analysts expect that Rocket Pharmaceuticals, Inc. will post -1.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

RCKT has been the topic of several recent research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Rocket Pharmaceuticals in a research report on Wednesday, November 4th. Wall Street Zen lowered Rocket Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday. Wedbush reissued an “outperform” rating on shares of Rocket Pharmaceuticals in a report on Wednesday, October 7th. Needham & Company LLC raised Rocket Pharmaceuticals from a “hold” rating to a “buy” rating and set a $9.00 price objective for the company in a research note on Wednesday, September 16th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Rocket Pharmaceuticals in a report on Wednesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $7.77.

Institutional Trading of Rocket Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the company. Allworth Financial LP purchased a new position in Rocket Pharmaceuticals during the second quarter worth about $28,000. Legal & General Group Plc bought a new stake in Rocket Pharmaceuticals in the 2nd quarter worth about $31,000. HB Wealth Management LLC bought a new stake in Rocket Pharmaceuticals in the 2nd quarter worth about $36,000. Focus Partners Advisor Solutions LLC purchased a new stake in Rocket Pharmaceuticals in the 2nd quarter valued at about $41,000. Finally, Optiver Holding B.V. increased its stake in Rocket Pharmaceuticals by 584.1% in the 1st 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 during the last quarter. Hedge funds and other institutional investors own 98.39% of the company’s stock.

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.