Insider Selling: Rocket Pharmaceuticals (NASDAQ:RCKT) CEO Sells $40,643.49 in Stock

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) CEO Gaurav Shah sold 12,279 shares of Rocket Pharmaceuticals stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $3.31, for a total transaction of $40,643.49. Following the transaction, the chief executive officer owned 1,052,045 shares of the company’s stock, valued at $3,482,268.95. This represents a 1.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Rocket Pharmaceuticals Trading Up 1.1%

RCKT opened at $3.78 on Friday. Rocket Pharmaceuticals, Inc. has a fifty-two week low of $2.19 and a fifty-two week high of $11.08. The firm has a market capitalization of $409.08 million, a PE ratio of -1.68 and a beta of 0.48. The company has a debt-to-equity ratio of 0.06, a current ratio of 7.30 and a quick ratio of 7.30. The company’s 50-day moving average is $3.51 and its 200 day moving average is $3.39.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Prudential Financial Inc. bought a new stake in shares of Rocket Pharmaceuticals in the 2nd quarter worth approximately $25,000. CANADA LIFE ASSURANCE Co increased its position in Rocket Pharmaceuticals by 94.4% in the second quarter. CANADA LIFE ASSURANCE Co now owns 12,202 shares of the biotechnology company’s stock worth $29,000 after buying an additional 5,926 shares during the last quarter. Corton Capital Inc. bought a new stake in shares of Rocket Pharmaceuticals in the second quarter valued at $38,000. Franklin Resources Inc. purchased a new position in shares of Rocket Pharmaceuticals during the 4th quarter valued at $38,000. Finally, Virtu Financial LLC bought a new position in shares of Rocket Pharmaceuticals during the 3rd quarter worth $40,000. 98.39% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on RCKT shares. TD Cowen upgraded Rocket Pharmaceuticals to a “hold” rating in a research note on Friday, December 19th. JPMorgan Chase & Co. lowered shares of Rocket Pharmaceuticals from a “neutral” rating to an “underweight” rating in a research report on Tuesday, November 18th. Bank of America reduced their price objective on shares of Rocket Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Tuesday, November 18th. Morgan Stanley set a $5.00 price objective on shares of Rocket Pharmaceuticals in a research note on Thursday, January 8th. Finally, Wedbush restated an “outperform” rating and issued a $16.00 target price on shares of Rocket Pharmaceuticals in a research note on Friday, November 7th. Eight research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $14.36.

About Rocket Pharmaceuticals

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.