Geode Capital Management LLC Increases Stake in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Geode Capital Management LLC grew its holdings in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 8.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,752,975 shares of the biotechnology company’s stock after purchasing an additional 135,109 shares during the period. Geode Capital Management LLC owned approximately 1.92% of Rocket Pharmaceuticals worth $22,041,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP boosted its holdings in Rocket Pharmaceuticals by 24.5% in the 4th quarter. Wellington Management Group LLP now owns 13,995,177 shares of the biotechnology company’s stock valued at $175,919,000 after purchasing an additional 2,753,033 shares during the period. Vanguard Group Inc. grew its holdings in shares of Rocket Pharmaceuticals by 18.8% during the 4th quarter. Vanguard Group Inc. now owns 6,577,595 shares of the biotechnology company’s stock valued at $82,680,000 after purchasing an additional 1,040,655 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Rocket Pharmaceuticals by 15.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 656,090 shares of the biotechnology company’s stock worth $8,247,000 after buying an additional 86,276 shares during the period. Schroder Investment Management Group lifted its position in Rocket Pharmaceuticals by 76.0% in the fourth quarter. Schroder Investment Management Group now owns 413,550 shares of the biotechnology company’s stock valued at $4,975,000 after purchasing an additional 178,546 shares during the last quarter. Finally, Privium Fund Management B.V. raised its holdings in Rocket Pharmaceuticals by 34.9% during 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 buying an additional 102,850 shares during the last quarter. Hedge funds and other institutional investors own 98.39% of the company’s stock.

Rocket Pharmaceuticals Stock Performance

RCKT opened at $6.33 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.05 and a quick ratio of 6.05. The company has a 50 day simple moving average of $7.96 and a two-hundred day simple moving average of $11.72. The firm has a market cap of $674.97 million, a P/E ratio of -2.30 and a beta of 1.00. Rocket Pharmaceuticals, Inc. has a 1-year low of $4.55 and a 1-year high of $26.98.

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

Analyst Ratings Changes

Several equities research analysts have weighed in on RCKT shares. Scotiabank increased their price objective on Rocket Pharmaceuticals from $51.00 to $52.00 and gave the stock a “sector outperform” rating in a report on Monday, March 3rd. BMO Capital Markets began coverage on shares of Rocket Pharmaceuticals in a report on Wednesday, March 12th. They issued an “outperform” rating and a $50.00 price objective on the stock. Chardan Capital reduced their price target on Rocket Pharmaceuticals from $62.00 to $54.00 and set a “buy” rating for the company in a report on Friday, February 28th. Wedbush started coverage on shares of Rocket Pharmaceuticals in a report on Monday, December 30th. They issued an “outperform” rating and a $32.00 price objective for the company. Finally, The Goldman Sachs Group lowered 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 note on Monday, March 3rd. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $43.00.

Insider Activity at Rocket Pharmaceuticals

In other Rocket Pharmaceuticals news, CFO Aaron Ondrey sold 7,489 shares of Rocket Pharmaceuticals stock in a transaction on Friday, April 4th. The shares were 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 of the company’s stock, valued at $685,848.50. This trade represents a 5.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Gaurav Shah purchased 20,000 shares of the stock in a transaction that occurred on Thursday, April 10th. The stock was acquired at an average cost of $5.08 per share, with a total value of $101,600.00. Following the acquisition, the chief executive officer now owns 792,680 shares in the company, valued at $4,026,814.40. The trade was a 2.59 % increase in their position. The disclosure for this purchase can be found here. 28.50% of the stock is owned by corporate insiders.

About Rocket Pharmaceuticals

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.