Gaurav Shah Sells 55,684 Shares of Rocket Pharmaceuticals (NASDAQ:RCKT) Stock

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) CEO Gaurav Shah sold 55,684 shares of Rocket Pharmaceuticals stock in a transaction dated 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 owned 1,061,724 shares of the company’s stock, valued at $3,280,727.16. The trade was a 4.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 shares were 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 shares were sold at an average price of $3.61, for a total transaction of $9,848.08.

Rocket Pharmaceuticals Stock Down 0.3%

RCKT opened at $2.99 on Thursday. Rocket Pharmaceuticals, Inc. has a 12 month low of $2.35 and a 12 month high of $5.45. The company has a market cap of $326.48 million, a PE ratio of -1.60 and a beta of 0.52. The company has a current ratio of 6.12, a quick ratio of 6.12 and a debt-to-equity ratio of 0.08. The company has a 50 day moving average of $3.65 and a 200 day moving average of $3.64.

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

Institutional Trading of Rocket Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of RCKT. JPMorgan Chase & Co. raised its position in shares of Rocket Pharmaceuticals by 73.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,097,033 shares of the biotechnology company’s stock valued at $6,836,000 after buying an additional 889,231 shares in the last quarter. Monaco Asset Management SAM grew its position in Rocket Pharmaceuticals by 538.8% in the third quarter. Monaco Asset Management SAM now owns 2,892,261 shares of the biotechnology company’s stock worth $9,429,000 after acquiring an additional 2,439,494 shares in the last quarter. GSA Capital Partners LLP increased its stake in Rocket Pharmaceuticals by 502.3% in the third quarter. GSA Capital Partners LLP now owns 224,276 shares of the biotechnology company’s stock valued at $731,000 after acquiring an additional 187,037 shares during the last quarter. Hudson Bay Capital Management LP raised its position in Rocket Pharmaceuticals by 26.6% during the third quarter. Hudson Bay Capital Management LP now owns 34,700 shares of the biotechnology company’s stock valued at $113,000 after purchasing an additional 7,300 shares in the last quarter. Finally, AXQ Capital LP purchased a new stake in Rocket Pharmaceuticals during the third quarter valued at about $137,000. Hedge funds and other institutional investors own 98.39% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on RCKT. Wall Street Zen upgraded Rocket Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Cantor Fitzgerald increased their price target on shares of Rocket Pharmaceuticals from $8.00 to $10.00 and gave the stock an “overweight” rating in a report on Friday, February 27th. Chardan Capital restated a “buy” rating and issued a $11.00 price objective on shares of Rocket Pharmaceuticals in a research report on Monday, May 11th. Weiss Ratings cut shares of Rocket Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, May 14th. Finally, The Goldman Sachs Group upped their target price on shares of Rocket Pharmaceuticals to $3.00 and gave the stock a “sell” rating in a report on Monday, March 2nd. One equities 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 assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $8.10.

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.