Selling Buzz: Rocket Pharmaceuticals Inc. [RCKT] CEO Shah Gaurav sells 12,194 shares of the company


The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Rocket Pharmaceuticals Inc. shares valued at $232,418 were sold by Shah Gaurav on Feb 17. At $19.06 per share, Shah Gaurav sold 12,194 shares. The insider’s holdings dropped to 536,885 shares worth approximately $10.87 million following the completion of this transaction.

From Robots to Self-Driving Cars: 5 AI Stocks to Consider for Your Portfolio

The artificial intelligence (AI) revolution is already here and it's about to change everything we know about everything. With the global market for AI projected to grow from $137 billion in 2022 to over $1.81 trillion by 2030, there's never been a better time to invest in this burgeoning industry. That's why we've compiled a list of the Top 5 AI Stocks to Buy for 2023. These companies are at the forefront of the AI revolution, and have the potential to deliver huge returns to investors like you.

Get our free report, "Top 5 AI Stocks to Buy for 2023".


Also, Schwartz Jonathan David sold 3,557 shares, netting a total of over 67,796 in proceeds. Following the sale of shares at $19.06 each, the insider now holds 94,546 shares.

Before that, Militello John had sold 1,244 shares from its account. In a trade valued at $23,711, the insider traded Rocket Pharmaceuticals Inc. shares for $19.06 each. Upon closing the transaction, the insider’s holdings decreased to 1,244 shares, worth approximately $32683.5.

As published in their initiating research note from Morgan Stanley on February 01, 2023, Rocket Pharmaceuticals Inc. [RCKT] has been an Overweight and the price target has been revised to $45. This represents a 55.0% premium over Wednesday’s closing price. Analysts at Canaccord Genuity started covering the stock with ‘”a Buy”‘ outlook in a report released in early November. As of November 01, 2022, BTIG Research has initiated its “Buy” rating for RCKT. Earlier on July 08, 2022, Raymond James initiated its rating. Their recommendation was “an Outperform” for RCKT stock.

Analyzing RCKT Stock Performance

On Wednesday, Rocket Pharmaceuticals Inc. [NASDAQ: RCKT] rose 5.41% to $20.25. The stock’s lowest price that day was $19.25, but it reached a high of $21.32 in the same session. During the last five days, there has been a surge of approximately 5.47%. Over the course of the year, Rocket Pharmaceuticals Inc. shares have jumped approximately 3.47%. Shares of the company reached a 52-week high of $22.97 on 01/26/23 and a 52-week low of $17.81 on 02/28/23. A 50-day SMA is recorded $20.22, while a 200-day SMA reached $16.77. Nevertheless, trading volume fell to 1.25 million shares from 0.66 million shares the previous day.

Support And Resistance Levels for Rocket Pharmaceuticals Inc. (RCKT)

According to the 24-hour chart, there is a support level at 19.23, which, if violated, would cause prices to drop to 18.20. In the upper region, resistance lies at 21.30. The next price resistance is at 22.34. RSI (Relative Strength Index) is 53.12 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.01, which suggests the price will decrease in the coming days. Percent R is at 30.48%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Rocket Pharmaceuticals Inc. subject to short interest?

Stocks of Rocket Pharmaceuticals Inc. saw a sharp steep in short interest on Jan 30, 2023 dropping by -0.23 million shares to 6.81 million. Data from Yahoo Finance shows that the short interest on Dec 29, 2022 was 7.04 million shares. A decline of -3.38% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 8.76 of the overall float, the days-to-cover ratio (short ratio) decline to 8.76.

Which companies own the most shares of Rocket Pharmaceuticals Inc. (RCKT)?

According to RTW Investments LP filings, the company currently owns 17,687,772 shares, which is about 22.47% of the total RCKT shares outstanding. The investor’s shares have appreciated by 1,382,035 from its previous 13-F filing of 16305737.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $92,639,532. The Vanguard Group, Inc. acquire a 19.76% interest valued at $88.86 million while SSgA Funds Management, Inc. purchased a 584,558 stake. A total of 28,605 shares of Rocket Pharmaceuticals Inc. were bought by Wellington Management Co. LLP during the quarter, and 863,452 were bought by Maverick Capital Ltd. In its current portfolio, Westfield Capital Management Co. holds 2,905,555 shares valued at $63.14 million.

In terms of Rocket Pharmaceuticals Inc. share price expectations, FactSet research, analysts set an average price target of $50.15 in the next 12 months, up nearly 155.08% from the previous closing price of $19.21. Analysts anticipate Rocket Pharmaceuticals Inc. stock to reach $75.00 by 2023, with the lowest price target being $33.00. In spite of this, 15 analysts ranked Rocket Pharmaceuticals Inc. stock as a Buy at the end of 2023.


Please enter your comment!
Please enter your name here