Key Points
- CEO Gaurav Shah sold 55,684 Rocket Pharmaceuticals shares on May 21 at an average price of $3.09, for proceeds of about $172,064. The sale reduced his direct stake by about 4.98%, leaving him with 1,061,724 shares.
- Shah also sold shares earlier in the month, including 2,409 shares on May 19 and 2,728 shares on May 13, continuing a recent pattern of insider selling.
- Rocket Pharmaceuticals reported a slightly worse-than-expected quarterly loss of $0.42 per share versus estimates of a $0.41 loss, while analysts currently rate the stock a consensus “Hold” with a $9.00 price target.
Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Get Free Report) CEO Gaurav Shah sold 55,684 shares of Rocket Pharmaceuticals stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $3.09, for a total transaction of $172,063.56. Following the sale, the chief executive officer directly owned 1,061,724 shares in the company, valued at approximately $3,280,727.16. This trade represents a 4.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
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 transaction 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 transaction of $9,848.08.
Rocket Pharmaceuticals Trading Up 1.4%
Shares of RCKT opened at $3.00 on Wednesday. Rocket Pharmaceuticals, Inc. has a 52-week low of $2.19 and a 52-week high of $5.45. The company has a quick ratio of 6.12, a current ratio of 6.12 and a debt-to-equity ratio of 0.08. The firm's fifty day moving average is $3.68 and its two-hundred day moving average is $3.64. The stock has a market cap of $327.58 million, a PE ratio of -1.60 and a beta of 0.52.
Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.41) by ($0.01). During the same quarter in the previous year, the business earned ($0.56) EPS. Research analysts forecast that Rocket Pharmaceuticals, Inc. will post -1.24 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on RCKT. Lifesci Capital upgraded shares of Rocket Pharmaceuticals to a "strong-buy" rating in a research note on Thursday, February 26th. 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 research note on Monday, March 2nd. Cantor Fitzgerald increased their price target on shares of Rocket Pharmaceuticals from $8.00 to $10.00 and gave the company an "overweight" rating in a research note on Friday, February 27th. Chardan Capital reiterated a "buy" rating and issued a $11.00 price target on shares of Rocket Pharmaceuticals in a research note on Monday, May 11th. Finally, Weiss Ratings lowered shares of Rocket Pharmaceuticals from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Rocket Pharmaceuticals presently has a consensus rating of "Hold" and a consensus price target of $9.00.
Check Out Our Latest Stock Analysis on Rocket Pharmaceuticals
Hedge Funds Weigh In On Rocket Pharmaceuticals
Several hedge funds have recently added to or reduced their stakes in RCKT. Essential Partners LLC boosted its holdings in shares of Rocket Pharmaceuticals by 371.6% in the first quarter. Essential Partners LLC now owns 13,541 shares of the biotechnology company's stock valued at $48,000 after acquiring an additional 10,670 shares during the period. Bank of America Corp DE boosted its holdings in shares of Rocket Pharmaceuticals by 8.7% in the first quarter. Bank of America Corp DE now owns 630,125 shares of the biotechnology company's stock valued at $2,256,000 after acquiring an additional 50,618 shares during the period. Maverick Capital Ltd. boosted its holdings in shares of Rocket Pharmaceuticals by 42.0% in the first quarter. Maverick Capital Ltd. now owns 3,567,372 shares of the biotechnology company's stock valued at $12,771,000 after acquiring an additional 1,054,262 shares during the period. Quantinno Capital Management LP boosted its holdings in shares of Rocket Pharmaceuticals by 88.7% in the first quarter. Quantinno Capital Management LP now owns 76,248 shares of the biotechnology company's stock valued at $273,000 after acquiring an additional 35,851 shares during the period. Finally, Rice Hall James & Associates LLC boosted its holdings in shares of Rocket Pharmaceuticals by 8.1% in the first quarter. Rice Hall James & Associates LLC now owns 91,887 shares of the biotechnology company's stock valued at $329,000 after acquiring an additional 6,900 shares during the period. 98.39% of the stock is currently owned by hedge funds and other institutional investors.
Rocket Pharmaceuticals Company Profile
(
Get Free Report)
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.
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