Rocket Pharmaceuticals executive Kinnari Patel buys $99,165 in stock

Kinnari Patel, President, Head of R&D, and Chief Operating Officer at Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT), recently increased her stake in the company. According to a recent SEC filing, Patel's husband acquired 21,099 shares of Rocket Pharmaceuticals' common stock. These shares were purchased at prices ranging from $4.65 to $4.78, with a weighted average price of $4.70 per share, totaling approximately $99,165.

Following this transaction, Patel's direct and indirect holdings in the company increased significantly. The purchase was conducted through brokered transactions, and the shares are indirectly held by Patel's spouse. This acquisition brings Patel's total indirect ownership to 26,774 shares, with additional holdings managed through Adaptive Technology LLC, a company owned by her husband. With a market capitalization of $525 million and strong analyst support (consensus rating of 1.39, where 1 is Strong Buy), the company maintains a healthy financial position with a current ratio of 9.3. InvestingPro subscribers can access 10+ additional key metrics and insights about Rocket Pharmaceuticals through the comprehensive Pro Research Report.

In other recent news, Rocket Pharmaceuticals has been the focus of several key developments. BMO Capital Markets maintained an Outperform rating for the company, setting a price target of $50.00. The analysts at BMO are optimistic about Rocket's Danon Disease program, projecting a 70% chance of favorable updates in the second quarter of 2025. Cantor Fitzgerald also reaffirmed its Overweight rating on Rocket Pharmaceuticals, emphasizing confidence in the company's PKP2 arrhythmogenic cardiomyopathy gene therapy program. Meanwhile, Rocket Pharmaceuticals announced the appointment of Sarbani Chaudhuri as the new Chief Commercial & Medical (TASE:BLWV) Affairs Officer, bringing her extensive experience from Johnson & Johnson and AstraZeneca (NASDAQ:AZN) to the team.

Additionally, the biotechnology sector, including Rocket Pharmaceuticals, experienced a downturn following the resignation of FDA's top vaccine official, Dr. Peter Marks. This shakeup raised concerns about the potential impact on the regulatory landscape. Despite these challenges, BMO Capital Markets and Cantor Fitzgerald have expressed confidence in Rocket Pharmaceuticals' strategic direction and potential for growth. The company's focus on gene therapies for diseases with significant unmet needs remains a central aspect of its development strategy.

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