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 the business’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $3.09, for a total value of $172,063.56. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Gaurav Shah also recently made the following trade(s):

• On Tuesday, May 19th, Gaurav Shah sold 2,409 shares of Rocket Pharmaceuticals stock. The stock was sold at an average price of $3.01, for a total value of $7,251.09.
• On Wednesday, May 13th, Gaurav Shah sold 2,728 shares of Rocket Pharmaceuticals stock. The stock was sold at an average price of $3.61, for a total value of $9,848.08.

Rocket Pharmaceuticals Trading Up 1.4%

Shares of Rocket Pharmaceuticals stock traded up $0.04 during trading on Tuesday, hitting $3.00. 1,980,141 shares of the company were exchanged, compared to its average volume of 2,201,764. The firm has a market capitalization of $327.57 million, a P/E ratio of -1.60 and a beta of 0.52. Rocket Pharmaceuticals, Inc. has a 1-year low of $2.19 and a 1-year high of $5.45. The firm’s fifty day moving average price is $3.68 and its 200 day moving average price is $3.64. The company has a debt-to-equity ratio of 0.08, a current ratio of 6.12 and a quick ratio of 6.12.

Rocket Pharmaceuticals (NASDAQ:RCKT) last issued its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.41) by ($0.01). During the same quarter last year, the business posted ($0.56) earnings per share. As a group, sell-side analysts expect that Rocket Pharmaceuticals, Inc. will post -1.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rocket Pharmaceuticals

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Rocket Pharmaceuticals by 12.6% during the 3rd quarter. Vanguard Group Inc. now owns 6,892,204 shares of the biotechnology company’s stock worth $22,469,000 after acquiring an additional 769,743 shares during the last quarter. MPM Bioimpact LLC boosted its position in Rocket Pharmaceuticals by 141.2% during the 2nd quarter. MPM Bioimpact LLC now owns 3,903,081 shares of the biotechnology company’s stock worth $9,563,000 after acquiring an additional 2,284,816 shares during the last quarter. Millennium Management LLC boosted its position in Rocket Pharmaceuticals by 52.0% during the 3rd quarter. Millennium Management LLC now owns 3,570,391 shares of the biotechnology company’s stock worth $11,639,000 after acquiring an additional 1,221,554 shares during the last quarter. Maverick Capital Ltd. boosted its position in Rocket Pharmaceuticals by 42.0% during the 1st quarter. Maverick Capital Ltd. now owns 3,567,372 shares of the biotechnology company’s stock worth $12,771,000 after acquiring an additional 1,054,262 shares during the last quarter. Finally, Monaco Asset Management SAM boosted its position in Rocket Pharmaceuticals by 3.3% during the 4th quarter. Monaco Asset Management SAM now owns 2,987,296 shares of the biotechnology company’s stock worth $10,485,000 after acquiring an additional 95,035 shares during the last quarter. Institutional investors and hedge funds own 98.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on RCKT shares. Cantor Fitzgerald boosted their price objective on Rocket Pharmaceuticals from $8.00 to $10.00 and gave the company an “overweight” rating in a research report on Friday, February 27th. Wall Street Zen upgraded Rocket Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Chardan Capital reiterated a “buy” rating and issued a $11.00 price objective on shares of Rocket Pharmaceuticals in a research report on Monday, May 11th. The Goldman Sachs Group boosted their price objective on Rocket Pharmaceuticals to $3.00 and gave the company a “sell” rating in a research report on Monday, March 2nd. Finally, Lifesci Capital upgraded Rocket Pharmaceuticals to a “strong-buy” rating in a research report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $11.54.

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.