Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) CEO Sells $228,596.50 in Stock

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) CEO Gaurav Shah sold 9,790 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $23.35, for a total transaction of $228,596.50. Following the transaction, the chief executive officer now directly owns 728,069 shares in the company, valued at $17,000,411.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Rocket Pharmaceuticals Trading Up 0.5 %

Shares of RCKT opened at $22.44 on Thursday. The firm has a market cap of $2.04 billion, a P/E ratio of -7.82 and a beta of 1.12. Rocket Pharmaceuticals, Inc. has a fifty-two week low of $14.89 and a fifty-two week high of $32.53. The company has a debt-to-equity ratio of 0.04, a quick ratio of 10.47 and a current ratio of 10.47. The business has a 50-day moving average of $24.43 and a 200 day moving average of $26.09.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its quarterly earnings results on Monday, May 6th. The biotechnology company reported ($0.66) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.67) by $0.01. During the same quarter in the prior year, the business posted ($0.73) earnings per share. As a group, research analysts forecast that Rocket Pharmaceuticals, Inc. will post -2.85 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Needham & Company LLC reissued a “buy” rating and set a $53.00 target price on shares of Rocket Pharmaceuticals in a research report on Tuesday, May 7th. Cantor Fitzgerald reiterated an “overweight” rating and set a $65.00 price target on shares of Rocket Pharmaceuticals in a report on Tuesday, February 27th. JPMorgan Chase & Co. reduced their price objective on Rocket Pharmaceuticals from $55.00 to $50.00 and set an “overweight” rating for the company in a research note on Tuesday, February 27th. The Goldman Sachs Group initiated coverage on Rocket Pharmaceuticals in a research note on Tuesday, April 2nd. They set a “neutral” rating and a $39.00 target price on the stock. Finally, UBS Group reduced their price target on shares of Rocket Pharmaceuticals from $56.00 to $54.00 and set a “buy” rating for the company in a research report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Rocket Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $52.13.

Institutional Investors Weigh In On Rocket Pharmaceuticals

Several institutional investors have recently made changes to their positions in the stock. Annandale Capital LLC bought a new stake in shares of Rocket Pharmaceuticals during the 3rd quarter valued at $66,000. Allspring Global Investments Holdings LLC increased its position in shares of Rocket Pharmaceuticals by 14.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,145 shares of the biotechnology company’s stock valued at $105,000 after buying an additional 633 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of Rocket Pharmaceuticals by 105.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,557 shares of the biotechnology company’s stock worth $107,000 after buying an additional 1,829 shares in the last quarter. Old Well Partners LLC bought a new position in shares of Rocket Pharmaceuticals in the fourth quarter valued at approximately $200,000. Finally, Capstone Investment Advisors LLC bought a new position in shares of Rocket Pharmaceuticals in the fourth quarter valued at approximately $217,000. Hedge funds and other institutional investors own 98.39% of the company’s stock.

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.