Rocket Pharmaceuticals CFO sells $39,646 in stock

In a recent transaction, Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Chief Financial Officer Aaron Ondrey sold 7,489 shares of the company's common stock. The shares were sold at an average price of $5.294, amounting to a total transaction value of $39,646. The transaction comes as RCKT trades near its 52-week low of $4.60, down nearly 79% over the past year. According to InvestingPro analysis, the stock appears undervalued at current levels. Following this sale, Ondrey holds 129,650 shares in the company.

The sale was conducted to cover tax withholding obligations related to the vesting of restricted stock units (RSUs), which convert to common stock on a one-for-one basis. This transaction was reported in a Form 4 filing with the Securities and Exchange Commission.

In other recent news, Rocket Pharmaceuticals has garnered attention with several key developments. BMO Capital Markets maintained an Outperform rating for the company, setting a price target of $50.00, and highlighted the potential for a positive update on Rocket's Danon Disease program in the second quarter of 2025. Cantor Fitzgerald also reaffirmed its Overweight rating with the same price target, expressing confidence in Rocket's PKP2 arrhythmogenic cardiomyopathy gene therapy program. These analyst ratings suggest optimism about the company's strategic direction and scientific advancements.

Additionally, Rocket Pharmaceuticals announced the appointment of Sarbani Chaudhuri as the new Chief Commercial & Medical (TASE:BLWV) Affairs Officer. Chaudhuri, with her extensive experience at Johnson & Johnson and AstraZeneca (NASDAQ:AZN), is expected to strengthen the company's leadership team. Meanwhile, the biotech sector faced a broader shakeup due to the resignation of the FDA's top vaccine official, Peter Marks, which caused notable declines in shares of several biotech firms, including Rocket Pharmaceuticals.

These recent developments reflect ongoing changes and strategic movements within Rocket Pharmaceuticals and the broader biotech industry. Investors will likely keep a close watch on upcoming announcements and updates from the company, particularly regarding its Danon Disease program and leadership transitions.

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