Key Points
- Rocket Pharmaceuticals insider Sarbani Chaudhuri sold 4,872 shares for about $11,352; the sale covered tax withholding on vested equity awards. Chaudhuri retained 257,937 shares.
- The company reported quarterly EPS of -$0.43, missing analysts’ estimate of -$0.40, and the article noted the stock was down 3.6%.
- Analysts’ consensus rating was Hold, with an average price target of $7.77.
Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Get Free Report) insider Sarbani Chaudhuri sold 4,872 shares of Rocket Pharmaceuticals stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $2.33, for a total value of $11,351.76. Following the completion of the transaction, the insider owned 257,937 shares of the company's stock, valued at $600,993.21. The trade was a 1.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Rocket Pharmaceuticals Stock Down 3.6%
RCKT stock opened at $2.39 on Friday. Rocket Pharmaceuticals, Inc. has a fifty-two week low of $2.16 and a fifty-two week high of $5.45. The company's 50 day moving average price is $2.74 and its 200 day moving average price is $3.40. The company has a debt-to-equity ratio of 0.05, a quick ratio of 9.24 and a current ratio of 9.24. The firm has a market capitalization of $262.37 million, a price-to-earnings ratio of -14.06 and a beta of 0.51.
Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last announced its quarterly earnings data on Thursday, November 12th. The biotechnology company reported ($0.43) EPS for the quarter, missing analysts' consensus estimates of ($0.40) by ($0.03). On average, equities research analysts anticipate that Rocket Pharmaceuticals, Inc. will post -1.36 EPS for the current fiscal year.
Institutional Investors Weigh In On Rocket Pharmaceuticals
A number of institutional investors and hedge funds have recently made changes to their positions in RCKT. Allworth Financial LP acquired a new stake in shares of Rocket Pharmaceuticals during the second quarter worth about $28,000. Legal & General Group Plc purchased a new position in Rocket Pharmaceuticals during the 2nd quarter valued at about $31,000. HB Wealth Management LLC purchased a new stake in shares of Rocket Pharmaceuticals in the second quarter valued at about $36,000. Focus Partners Advisor Solutions LLC acquired a new stake in shares of Rocket Pharmaceuticals in the second quarter valued at approximately $41,000. Finally, Optiver Holding B.V. raised its position in shares of Rocket Pharmaceuticals by 584.1% during the 1st quarter. Optiver Holding B.V. now owns 12,484 shares of the biotechnology company's stock worth $45,000 after purchasing an additional 10,659 shares during the last quarter. 98.39% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on RCKT shares. Wall Street Zen raised Rocket Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Monday, August 17th. Chardan Capital reiterated a "buy" rating and set a $11.00 price target on shares of Rocket Pharmaceuticals in a research note on Wednesday, October 7th. Wedbush restated an "outperform" rating on shares of Rocket Pharmaceuticals in a research note on Wednesday, October 7th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Rocket Pharmaceuticals in a report on Wednesday, November 4th. Finally, Jefferies Financial Group reiterated a "hold" rating and set a $2.95 target price on shares of Rocket Pharmaceuticals in a research 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 given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $7.77.
View Our Latest Report on RCKT
About Rocket Pharmaceuticals
(
Get Free Report)
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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