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 Rocket Pharmaceuticals stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $23.35, for a total value of $228,596.50. Following the completion of the transaction, the chief executive officer now directly owns 728,069 shares of the company’s stock, valued at $17,000,411.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Rocket Pharmaceuticals Trading Up 0.5 %

NASDAQ RCKT opened at $22.44 on Thursday. Rocket Pharmaceuticals, Inc. has a 12 month low of $14.89 and a 12 month high of $32.53. The stock has a 50-day simple moving average of $24.43 and a 200 day simple moving average of $26.09. The company has a current ratio of 10.47, a quick ratio of 10.47 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $2.04 billion, a PE ratio of -7.82 and a beta of 1.12.

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

Institutional Investors Weigh In On Rocket Pharmaceuticals

Large investors have recently bought and sold shares of the company. Comerica Bank acquired a new position in shares of Rocket Pharmaceuticals in the 3rd quarter valued at $9,017,000. Bamco Inc. NY increased its holdings in shares of Rocket Pharmaceuticals by 25.5% in the third quarter. Bamco Inc. NY now owns 1,108,017 shares of the biotechnology company’s stock worth $22,703,000 after acquiring an additional 225,231 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Rocket Pharmaceuticals by 56.0% during the third quarter. Wellington Management Group LLP now owns 8,022,830 shares of the biotechnology company’s stock worth $164,388,000 after purchasing an additional 2,880,373 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Rocket Pharmaceuticals by 7.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 468,206 shares of the biotechnology company’s stock valued at $9,594,000 after purchasing an additional 32,836 shares in the last quarter. Finally, Rathbones Group PLC acquired a new position in shares of Rocket Pharmaceuticals in the 3rd quarter valued at approximately $615,000. Institutional investors own 98.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Rocket Pharmaceuticals from $55.00 to $50.00 and set an “overweight” rating for the company in a research report on Tuesday, February 27th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $65.00 price objective on shares of Rocket Pharmaceuticals in a report on Tuesday, February 27th. StockNews.com raised Rocket Pharmaceuticals to a “sell” rating in a research note on Friday, February 9th. UBS Group cut their price target on Rocket Pharmaceuticals from $56.00 to $54.00 and set a “buy” rating on the stock in a research note on Friday, March 1st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $53.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday, May 7th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.13.

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.