Insider Selling: Rocket Pharmaceuticals (NASDAQ:RCKT) Insider Sells $16,453.50 in Stock

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKTGet Free Report) insider Sarbani Chaudhuri sold 4,701 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $3.50, for a total value of $16,453.50. Following the transaction, the insider directly owned 262,809 shares in the company, valued at approximately $919,831.50. This trade represents a 1.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Rocket Pharmaceuticals Stock Performance

Shares of RCKT traded down $0.07 during mid-day trading on Thursday, reaching $3.34. The company’s stock had a trading volume of 1,108,787 shares, compared to its average volume of 2,723,649. The company has a current ratio of 6.12, a quick ratio of 6.12 and a debt-to-equity ratio of 0.08. Rocket Pharmaceuticals, Inc. has a 1-year low of $2.53 and a 1-year high of $5.45. The business has a 50-day simple moving average of $3.36 and a two-hundred day simple moving average of $3.61. The stock has a market cap of $366.67 million, a P/E ratio of -19.65 and a beta of 0.47.

Rocket Pharmaceuticals (NASDAQ:RCKTGet Free Report) last posted its earnings results on Monday, August 10th. The biotechnology company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.22. During the same period last year, the business earned ($0.62) EPS. As a group, equities research analysts anticipate that Rocket Pharmaceuticals, Inc. will post -1.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rocket Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of RCKT. Ieq Capital LLC bought a new stake in shares of Rocket Pharmaceuticals in the second quarter valued at about $1,506,000. Allworth Financial LP acquired a new position in shares of Rocket Pharmaceuticals in the second quarter valued at about $28,000. BlackRock Inc. bought a new position in Rocket Pharmaceuticals during the second quarter worth about $33,940,000. Pallas Capital Advisors LLC bought a new position in Rocket Pharmaceuticals during the second quarter worth about $47,000. Finally, Deutsche Bank AG bought a new position in Rocket Pharmaceuticals during the second quarter worth about $288,000. Institutional investors and hedge funds own 98.39% of the company’s stock.

Analyst Upgrades and Downgrades

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

Get Our Latest Analysis on Rocket Pharmaceuticals

Rocket Pharmaceuticals Company Profile

(Get Free Report)

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.

See Also

Insider Buying and Selling by Quarter for Rocket Pharmaceuticals (NASDAQ:RCKT)

Receive News & Ratings for Rocket Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rocket Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.