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 company’s stock in a transaction 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 directly owns 707,328 shares in the company, valued at $9,230,630.40. This represents a 1.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Rocket Pharmaceuticals Stock Performance

Rocket Pharmaceuticals stock traded down $0.01 during trading on Monday, hitting $14.10. The company’s stock had a trading volume of 1,205,582 shares, compared to its average volume of 796,581. The stock’s fifty day moving average is $17.15 and its 200 day moving average is $19.83. Rocket Pharmaceuticals, Inc. has a 1-year low of $12.62 and a 1-year high of $32.53. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.05 and a current ratio of 6.05.

Institutional Investors Weigh In On Rocket Pharmaceuticals

Several hedge funds have recently modified their holdings of RCKT. Mirae Asset Global Investments Co. Ltd. raised 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 lifted its stake in shares of 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 purchasing an additional 764 shares in the last quarter. Values First Advisors Inc. acquired a new stake in Rocket Pharmaceuticals during the 3rd quarter worth approximately $108,000. SG Americas Securities LLC acquired a new position in Rocket Pharmaceuticals during the third quarter valued at approximately $113,000. Finally, XTX Topco Ltd acquired a new position in Rocket Pharmaceuticals during the third quarter valued at approximately $286,000. 98.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

RCKT has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their price target on Rocket Pharmaceuticals from $50.00 to $54.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. Chardan Capital reissued a “buy” rating and issued a $62.00 target price on shares of Rocket Pharmaceuticals in a report on Monday, November 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $52.00 price target on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $65.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $39.00 target price on shares of Rocket Pharmaceuticals in a 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. Based on data from MarketBeat, the stock 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.