Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) CEO Gaurav Shah Sells 11,091 Shares

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) CEO Gaurav Shah sold 11,091 shares of the business’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 of the company’s stock, 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 filing with the Securities & Exchange Commission, which is available through the SEC website.

Rocket Pharmaceuticals Stock Performance

NASDAQ RCKT opened at $14.11 on Wednesday. The company has a fifty day moving average of $17.05 and a two-hundred day moving average of $19.76. The company has a market capitalization of $1.29 billion, a PE ratio of -5.13 and a beta of 1.09. 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 current ratio of 6.05 and a quick ratio of 6.05.

Analysts Set New Price Targets

A number of equities analysts have recently commented on RCKT shares. Cantor Fitzgerald reissued an “overweight” rating and set a $65.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. Canaccord Genuity Group reissued a “buy” rating and issued a $39.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. Leerink Partners decreased their price objective on shares of Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating for the company in a research report on Tuesday, November 19th. Chardan Capital reiterated a “buy” rating and set a $62.00 target price on shares of Rocket Pharmaceuticals in a research note on Monday, November 18th. Finally, JPMorgan Chase & Co. raised their price target on Rocket Pharmaceuticals from $50.00 to $54.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $51.00.

Institutional Trading of Rocket Pharmaceuticals

Large investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its position 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 buying an additional 582 shares during the period. Nisa Investment Advisors LLC grew its position in shares of Rocket Pharmaceuticals by 31.9% during the second quarter. Nisa Investment Advisors LLC now owns 3,160 shares of the biotechnology company’s stock worth $68,000 after acquiring an additional 764 shares during the last quarter. Values First Advisors Inc. purchased a new position in shares of Rocket Pharmaceuticals during the third quarter worth approximately $108,000. SG Americas Securities LLC acquired a new position in shares of Rocket Pharmaceuticals in the 3rd quarter valued at $113,000. Finally, XTX Topco Ltd purchased a new stake in Rocket Pharmaceuticals in the 3rd quarter valued at $286,000. 98.39% of the stock is owned by institutional investors and hedge funds.

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.