JPMorgan Chase & Co. Sells 41,024 Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

JPMorgan Chase & Co. reduced its stake in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 7.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 515,528 shares of the biotechnology company’s stock after selling 41,024 shares during the period. JPMorgan Chase & Co. owned approximately 0.57% of Rocket Pharmaceuticals worth $6,480,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of RCKT. Vanguard Group Inc. grew its stake in Rocket Pharmaceuticals by 18.8% during the fourth quarter. Vanguard Group Inc. now owns 6,577,595 shares of the biotechnology company’s stock worth $82,680,000 after buying an additional 1,040,655 shares during the last quarter. State Street Corp boosted its holdings in shares of Rocket Pharmaceuticals by 11.6% in the 3rd quarter. State Street Corp now owns 3,102,022 shares of the biotechnology company’s stock worth $57,294,000 after acquiring an additional 322,156 shares in the last quarter. Geode Capital Management LLC grew its position in Rocket Pharmaceuticals by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,617,866 shares of the biotechnology company’s stock worth $29,888,000 after acquiring an additional 14,256 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Rocket Pharmaceuticals by 15.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 656,090 shares of the biotechnology company’s stock valued at $8,247,000 after purchasing an additional 86,276 shares in the last quarter. Finally, Privium Fund Management B.V. raised its position in Rocket Pharmaceuticals by 34.9% in the 4th quarter. Privium Fund Management B.V. now owns 397,650 shares of the biotechnology company’s stock valued at $4,998,000 after purchasing an additional 102,850 shares during the last quarter. 98.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on RCKT. BMO Capital Markets initiated coverage on Rocket Pharmaceuticals in a research note on Wednesday, March 12th. They issued an “outperform” rating and a $50.00 target price for the company. Wedbush began coverage on shares of Rocket Pharmaceuticals in a research report on Monday, December 30th. They issued an “outperform” rating and a $32.00 price objective for the company. The Goldman Sachs Group reduced their target price on shares of Rocket Pharmaceuticals from $29.00 to $15.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. Canaccord Genuity Group lowered their price target on shares of Rocket Pharmaceuticals from $39.00 to $36.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Finally, Scotiabank boosted their price objective on shares of Rocket Pharmaceuticals from $51.00 to $52.00 and gave the stock a “sector outperform” rating in a research report on Monday, March 3rd. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Rocket Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $43.00.

Insider Buying and Selling at Rocket Pharmaceuticals

In related news, CFO Aaron Ondrey sold 7,489 shares of the business’s stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $5.29, for a total value of $39,616.81. Following the completion of the transaction, the chief financial officer now directly owns 129,650 shares in the company, valued at approximately $685,848.50. The trade was a 5.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gaurav Shah bought 20,000 shares of the company’s stock in a transaction on Thursday, April 10th. The shares were bought at an average price of $5.08 per share, for a total transaction of $101,600.00. Following the completion of the acquisition, the chief executive officer now directly owns 792,680 shares in the company, valued at approximately $4,026,814.40. This trade represents a 2.59 % increase in their position. The disclosure for this purchase can be found here. Insiders own 28.50% of the company’s stock.

Rocket Pharmaceuticals Stock Performance

Shares of NASDAQ:RCKT opened at $6.33 on Friday. The company has a market capitalization of $674.97 million, a price-to-earnings ratio of -2.30 and a beta of 1.00. The firm’s 50 day simple moving average is $8.03 and its 200 day simple moving average is $11.80. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.05 and a quick ratio of 6.05. Rocket Pharmaceuticals, Inc. has a fifty-two week low of $4.55 and a fifty-two week high of $26.98.

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

Rocket Pharmaceuticals 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.