Rocket Pharmaceuticals (NASDAQ:RCKT) CEO Gaurav Shah Sells 12,279 Shares

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

Rocket Pharmaceuticals Price Performance

Shares of RCKT traded up $0.14 during trading hours on Wednesday, hitting $3.45. 2,561,307 shares of the stock were exchanged, compared to its average volume of 2,114,616. The company has a debt-to-equity ratio of 0.06, a quick ratio of 7.30 and a current ratio of 7.30. Rocket Pharmaceuticals, Inc. has a 12-month low of $2.19 and a 12-month high of $11.09. The company has a market cap of $373.37 million, a price-to-earnings ratio of -1.53 and a beta of 0.48. The stock’s 50-day moving average price is $3.50 and its two-hundred day moving average price is $3.38.

Analysts Set New Price Targets

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

Institutional Trading of Rocket Pharmaceuticals

Several institutional investors have recently made changes to their positions in RCKT. Virtus Investment Advisers LLC lifted its holdings in Rocket Pharmaceuticals by 111.7% in the fourth quarter. Virtus Investment Advisers LLC now owns 78,474 shares of the biotechnology company’s stock valued at $275,000 after acquiring an additional 41,410 shares during the last quarter. Opaleye Management Inc. purchased a new stake in Rocket Pharmaceuticals in the fourth quarter valued at $3,352,000. Engineers Gate Manager LP raised its position in Rocket Pharmaceuticals by 34.5% in the fourth quarter. Engineers Gate Manager LP now owns 96,009 shares of the biotechnology company’s stock valued at $337,000 after purchasing an additional 24,603 shares during the period. Schonfeld Strategic Advisors LLC acquired a new position in shares of Rocket Pharmaceuticals in the 4th quarter valued at $524,000. Finally, Abel Hall LLC acquired a new position in shares of Rocket Pharmaceuticals in the 4th quarter valued at $50,000. Hedge funds and other institutional investors own 98.39% of the company’s stock.

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.