Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) CEO Acquires $101,600.00 in Stock

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) CEO Gaurav Shah purchased 20,000 shares of the firm’s stock in a transaction dated Thursday, April 10th. The stock was acquired at an average price of $5.08 per share, with a total value of $101,600.00. Following the purchase, the chief executive officer now directly owns 792,680 shares of the company’s stock, valued at approximately $4,026,814.40. The trade was a 2.59 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Rocket Pharmaceuticals Price Performance

Shares of Rocket Pharmaceuticals stock opened at $6.53 on Wednesday. The stock has a market cap of $696.29 million, a P/E ratio of -2.37 and a beta of 1.00. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.05 and a current ratio of 6.05. The stock’s fifty day moving average is $8.19 and its 200 day moving average is $11.92. Rocket Pharmaceuticals, Inc. has a one year low of $4.55 and a one year high of $26.98.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its quarterly earnings data on Monday, March 3rd. The biotechnology company reported ($0.62) EPS for the quarter, topping the consensus estimate of ($0.68) by $0.06. Sell-side analysts anticipate that Rocket Pharmaceuticals, Inc. will post -2.83 earnings per share for the current year.

Hedge Funds Weigh In On Rocket Pharmaceuticals

Large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its position in shares of Rocket Pharmaceuticals by 796.2% during the 4th quarter. SG Americas Securities LLC now owns 54,921 shares of the biotechnology company’s stock valued at $690,000 after purchasing an additional 48,793 shares during the period. Jennison Associates LLC increased its stake in Rocket Pharmaceuticals by 72.6% in the 4th quarter. Jennison Associates LLC now owns 70,304 shares of the biotechnology company’s stock worth $884,000 after buying an additional 29,564 shares in the last quarter. Mirador Capital Partners LP raised its holdings in Rocket Pharmaceuticals by 403.9% during the fourth quarter. Mirador Capital Partners LP now owns 84,529 shares of the biotechnology company’s stock valued at $1,063,000 after acquiring an additional 67,755 shares during the period. Sovran Advisors LLC purchased a new position in shares of Rocket Pharmaceuticals in the fourth quarter valued at about $1,895,000. Finally, Strategic Financial Concepts LLC bought a new position in shares of Rocket Pharmaceuticals in the fourth quarter worth about $141,000. Hedge funds and other institutional investors own 98.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. The Goldman Sachs Group reduced their price objective on Rocket Pharmaceuticals from $29.00 to $15.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. Scotiabank lifted their price target on shares of Rocket Pharmaceuticals from $51.00 to $52.00 and gave the stock a “sector outperform” rating in a research note on Monday, March 3rd. Chardan Capital lowered their price objective on shares of Rocket Pharmaceuticals from $62.00 to $54.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Jefferies Financial Group started coverage on shares of Rocket Pharmaceuticals in a report on Wednesday, December 18th. They issued a “buy” rating and a $29.00 target price on the stock. Finally, Canaccord Genuity Group decreased their target price on shares of Rocket Pharmaceuticals from $39.00 to $36.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $43.00.

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.