Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) CEO Sells $144,737.55 in Stock

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) CEO Gaurav Shah sold 11,091 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $13.05, for a total value of $144,737.55. Following the completion of the sale, the chief executive officer now owns 707,328 shares of the company’s stock, valued at approximately $9,230,630.40. This trade represents a 1.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Rocket Pharmaceuticals Stock Performance

Shares of NASDAQ:RCKT traded down $0.01 on Monday, reaching $14.10. The company had a trading volume of 1,205,582 shares, compared to its average volume of 796,581. The stock has a 50-day moving average price of $17.15 and a 200 day moving average price of $19.83. Rocket Pharmaceuticals, Inc. has a twelve month low of $12.62 and a twelve month high of $32.53. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.05 and a quick ratio of 6.05.

Hedge Funds Weigh In On Rocket Pharmaceuticals

Institutional investors have recently modified their holdings of the company. Nisa Investment Advisors LLC grew its stake in Rocket Pharmaceuticals by 31.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,160 shares of the biotechnology company’s stock valued at $68,000 after buying an additional 764 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Rocket Pharmaceuticals by 21.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,292 shares of the biotechnology company’s stock worth $61,000 after purchasing an additional 582 shares during the last quarter. Values First Advisors Inc. bought a new stake in Rocket Pharmaceuticals during the 3rd quarter valued at approximately $108,000. SG Americas Securities LLC acquired a new stake in Rocket Pharmaceuticals in the 3rd quarter valued at approximately $113,000. Finally, Dana Investment Advisors Inc. increased its position in Rocket Pharmaceuticals by 4.4% in the 2nd quarter. Dana Investment Advisors Inc. now owns 13,847 shares of the biotechnology company’s stock worth $298,000 after buying an additional 586 shares during the period. Institutional investors own 98.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Chardan Capital reiterated a “buy” rating and issued a $62.00 price objective on shares of Rocket Pharmaceuticals in a report on Monday, November 18th. Scotiabank started coverage on shares of Rocket Pharmaceuticals in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $50.00 price objective for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $65.00 price target on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $39.00 target price on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Rocket Pharmaceuticals from $50.00 to $54.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Rocket Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.00.

About Rocket Pharmaceuticals

Rocket Pharmaceuticals, Inc, together with its subsidiaries, operates as a late-stage biotechnology company that focuses on developing gene therapies for rare and devastating diseases. It has three clinical-stage ex vivo lentiviral vector programs for fanconi anemia, a genetic defect in the bone marrow that reduces production of blood cells or promotes the production of faulty blood cells; leukocyte adhesion deficiency-I, a genetic disorder that causes the immune system to malfunction; and pyruvate kinase deficiency, a rare red blood cell autosomal recessive disorder that results in chronic non-spherocytic hemolytic anemia.