Insider Selling: Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) CEO Sells 11,091 Shares of Stock

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) CEO Gaurav Shah sold 11,091 shares of the company’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 transaction of $144,737.55. Following the sale, the chief executive officer now owns 707,328 shares in the company, valued at $9,230,630.40. The trade was a 1.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Rocket Pharmaceuticals Price Performance

Shares of NASDAQ RCKT opened at $14.20 on Thursday. The stock has a market cap of $1.29 billion, a P/E ratio of -5.13 and a beta of 1.09. Rocket Pharmaceuticals, Inc. has a twelve month low of $12.62 and a twelve month high of $32.53. The stock has a 50 day moving average of $16.89 and a two-hundred day moving average of $19.70. The company has a current ratio of 6.05, a quick ratio of 6.05 and a debt-to-equity ratio of 0.06.

Analyst Upgrades and Downgrades

Several research analysts have commented on RCKT shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $65.00 price target on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th. JPMorgan Chase & Co. boosted their target price on shares of Rocket Pharmaceuticals from $50.00 to $54.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. Canaccord Genuity Group restated a “buy” rating and issued a $39.00 price target on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. Needham & Company LLC reaffirmed a “buy” rating and set a $52.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. Finally, Leerink Partners cut their target price on Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Rocket Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $51.00.

Institutional Trading of Rocket Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the business. Nisa Investment Advisors LLC increased its stake in 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 during the period. Mirae Asset Global Investments Co. Ltd. increased its position in Rocket Pharmaceuticals by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,292 shares of the biotechnology company’s stock valued at $61,000 after acquiring an additional 582 shares during the period. Values First Advisors Inc. purchased 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 during the 3rd quarter worth approximately $113,000. Finally, Dana Investment Advisors Inc. grew its stake in shares of Rocket Pharmaceuticals by 4.4% in the 2nd quarter. Dana Investment Advisors Inc. now owns 13,847 shares of the biotechnology company’s stock valued at $298,000 after purchasing an additional 586 shares during the last quarter. Hedge funds and other institutional investors own 98.39% of the company’s stock.

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.