Rocket Pharmaceuticals (NASDAQ:RCKT) CEO Sells $172,063.56 in Stock

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) CEO Gaurav Shah sold 55,684 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $3.09, for a total transaction of $172,063.56. Following the completion of the transaction, the chief executive officer directly owned 1,061,724 shares in the company, valued at approximately $3,280,727.16. The trade was a 4.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Gaurav Shah also recently made the following trade(s):

• On Tuesday, May 19th, Gaurav Shah sold 2,409 shares of Rocket Pharmaceuticals stock. The stock was sold at an average price of $3.01, for a total transaction of $7,251.09.
• On Wednesday, May 13th, Gaurav Shah sold 2,728 shares of Rocket Pharmaceuticals stock. The stock was sold at an average price of $3.61, for a total transaction of $9,848.08.

Rocket Pharmaceuticals Stock Performance

RCKT opened at $3.02 on Friday. 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 12-month low of $2.40 and a 12-month high of $5.45. The company has a market cap of $329.75 million, a price-to-earnings ratio of -1.61 and a beta of 0.52. The company’s 50 day moving average is $3.61 and its 200 day moving average is $3.64.

Rocket Pharmaceuticals (NASDAQ:RCKT) last issued its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.41) by ($0.01). During the same quarter last year, the firm earned ($0.56) EPS. On average, equities research analysts predict that Rocket Pharmaceuticals, Inc. will post -1.4 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on RCKT shares. Wall Street Zen raised shares of Rocket Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Lifesci Capital raised shares of Rocket Pharmaceuticals to a “strong-buy” rating in a report on Thursday, February 26th. Cantor Fitzgerald lifted their price target on shares of Rocket Pharmaceuticals from $8.00 to $10.00 and gave the company an “overweight” rating in a report on Friday, February 27th. Weiss Ratings downgraded shares of Rocket Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, May 14th. Finally, The Goldman Sachs Group lifted their price target on shares of Rocket Pharmaceuticals to $3.00 and gave the company a “sell” rating in a report on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $8.10.

Institutional Investors Weigh In On Rocket Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of RCKT. Monaco Asset Management SAM raised its position in shares of Rocket Pharmaceuticals by 538.8% during the third quarter. Monaco Asset Management SAM now owns 2,892,261 shares of the biotechnology company’s stock valued at $9,429,000 after buying an additional 2,439,494 shares during the last quarter. MPM Bioimpact LLC raised its position in shares of Rocket Pharmaceuticals by 141.2% during the second quarter. MPM Bioimpact LLC now owns 3,903,081 shares of the biotechnology company’s stock valued at $9,563,000 after buying an additional 2,284,816 shares during the last quarter. Qube Research & Technologies Ltd raised its position in shares of Rocket Pharmaceuticals by 690.8% during the second quarter. Qube Research & Technologies Ltd now owns 1,548,262 shares of the biotechnology company’s stock valued at $3,793,000 after buying an additional 1,352,469 shares during the last quarter. Millennium Management LLC raised its position in shares of Rocket Pharmaceuticals by 52.0% during the third 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 during the last quarter. Finally, Maverick Capital Ltd. raised its position in shares of Rocket Pharmaceuticals by 42.0% during the first quarter. Maverick Capital Ltd. now owns 3,567,372 shares of the biotechnology company’s stock valued at $12,771,000 after buying an additional 1,054,262 shares during the last quarter. Institutional investors own 98.39% of the company’s stock.

Rocket Pharmaceuticals Company Profile

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.