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 business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $13.05, for a total value of $144,737.55. Following the transaction, the chief executive officer now owns 707,328 shares in the company, valued at approximately $9,230,630.40. This represents a 1.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Rocket Pharmaceuticals Stock Up 0.6 %

NASDAQ:RCKT opened at $14.20 on Thursday. Rocket Pharmaceuticals, Inc. has a 52 week low of $12.62 and a 52 week high of $32.53. The stock’s fifty day moving average is $16.89 and its two-hundred day moving average is $19.70. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of -5.13 and a beta of 1.09. The company has a quick ratio of 6.05, a current ratio of 6.05 and a debt-to-equity ratio of 0.06.

Analyst Ratings Changes

A number of equities analysts have weighed in on RCKT shares. Scotiabank initiated coverage on Rocket Pharmaceuticals in a research note on Wednesday, October 16th. They set a “sector outperform” rating and a $50.00 price objective on the stock. Leerink Partners dropped their price objective on shares of Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating for the company in a report on Tuesday, November 19th. Chardan Capital reaffirmed a “buy” rating and set a $62.00 target price on shares of Rocket Pharmaceuticals in a research note on Monday, November 18th. Canaccord Genuity Group reissued a “buy” rating and issued a $39.00 price target on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Rocket Pharmaceuticals from $50.00 to $54.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $51.00.

Hedge Funds Weigh In On Rocket Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its stake in Rocket Pharmaceuticals by 21.5% during the third 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 period. Nisa Investment Advisors LLC grew its holdings in shares of Rocket Pharmaceuticals by 31.9% in the second quarter. Nisa Investment Advisors LLC now owns 3,160 shares of the biotechnology company’s stock valued at $68,000 after purchasing an additional 764 shares in the last quarter. Values First Advisors Inc. purchased a new stake in Rocket Pharmaceuticals during the 3rd quarter worth approximately $108,000. SG Americas Securities LLC acquired a new stake in Rocket Pharmaceuticals during the 3rd quarter worth approximately $113,000. Finally, XTX Topco Ltd purchased a new position in Rocket Pharmaceuticals in the 3rd quarter valued at approximately $286,000. 98.39% of the stock is currently owned by hedge funds and other institutional investors.

Rocket Pharmaceuticals Company Profile

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.