Rocket Pharmaceuticals (NASDAQ:RCKT) CEO Sells $40,643.49 in Stock

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) CEO Gaurav Shah sold 12,279 shares of Rocket Pharmaceuticals stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $3.31, for a total transaction of $40,643.49. Following the sale, the chief executive officer owned 1,052,045 shares of the company’s stock, valued at approximately $3,482,268.95. The trade was a 1.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Rocket Pharmaceuticals Stock Performance

Shares of NASDAQ:RCKT traded up $0.14 during midday trading on Wednesday, reaching $3.45. The company’s stock had a trading volume of 2,561,307 shares, compared to its average volume of 2,114,616. The company has a quick ratio of 7.30, a current ratio of 7.30 and a debt-to-equity ratio of 0.06. The stock has a fifty day moving average of $3.50 and a 200 day moving average of $3.38. Rocket Pharmaceuticals, Inc. has a twelve month low of $2.19 and a twelve month high of $11.09. The firm has a market capitalization of $373.37 million, a PE ratio of -1.53 and a beta of 0.48.

Institutional Investors Weigh In On Rocket Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in RCKT. Maverick Capital Ltd. raised its position in Rocket Pharmaceuticals by 60.9% during the second quarter. Maverick Capital Ltd. now owns 8,363,813 shares of the biotechnology company’s stock worth $20,491,000 after acquiring an additional 3,164,595 shares during the period. Vanguard Group Inc. increased its stake in shares of 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 in the last quarter. MPM Bioimpact LLC raised its position in shares of Rocket Pharmaceuticals by 141.2% during the 2nd 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 lifted its stake in Rocket Pharmaceuticals by 52.0% in the 3rd quarter. Millennium Management LLC now owns 3,570,391 shares of the biotechnology company’s stock valued at $11,639,000 after buying an additional 1,221,554 shares in the last quarter. Finally, Monaco Asset Management SAM lifted its stake in Rocket Pharmaceuticals by 3.3% in the 4th quarter. Monaco Asset Management SAM now owns 2,987,296 shares of the biotechnology company’s stock valued at $10,485,000 after buying an additional 95,035 shares in the last quarter. Institutional investors and hedge funds own 98.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. JPMorgan Chase & Co. lowered Rocket Pharmaceuticals from a “neutral” rating to an “underweight” rating in a report on Tuesday, November 18th. Wedbush reaffirmed an “outperform” rating and set a $16.00 price objective on shares of Rocket Pharmaceuticals in a research note on Friday, November 7th. TD Cowen raised shares of Rocket Pharmaceuticals to a “hold” rating in a report on Friday, December 19th. Bank of America decreased their target price on shares of Rocket Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Tuesday, November 18th. Finally, Morgan Stanley set a $5.00 price target on shares of Rocket Pharmaceuticals in a research report on Thursday, January 8th. Eight research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $14.36.

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.