Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. reduced its holdings in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 74.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 73,760 shares of the biotechnology company’s stock after selling 217,346 shares during the period. Alliancebernstein L.P. owned about 0.08% of Rocket Pharmaceuticals worth $927,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Signaturefd LLC boosted its stake in shares of Rocket Pharmaceuticals by 319.8% during the fourth quarter. Signaturefd LLC now owns 4,916 shares of the biotechnology company’s stock worth $62,000 after buying an additional 3,745 shares during the period. Harbour Investments Inc. boosted its stake in Rocket Pharmaceuticals by 51.9% in the 4th quarter. Harbour Investments Inc. now owns 5,385 shares of the biotechnology company’s stock worth $68,000 after buying an additional 1,840 shares during the last quarter. KBC Group NV increased its position in Rocket Pharmaceuticals by 159.6% during the 4th quarter. KBC Group NV now owns 5,475 shares of the biotechnology company’s stock worth $69,000 after purchasing an additional 3,366 shares in the last quarter. E Fund Management Co. Ltd. acquired a new stake in Rocket Pharmaceuticals in the 4th quarter valued at $139,000. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of Rocket Pharmaceuticals in the fourth quarter valued at about $141,000. 98.39% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Rocket Pharmaceuticals

In related news, CEO Gaurav Shah acquired 20,000 shares of the business’s stock in a transaction dated Thursday, April 10th. The stock was acquired at an average price of $5.08 per share, with a total value of $101,600.00. Following the completion of the transaction, the chief executive officer now owns 792,680 shares of the company’s stock, valued at approximately $4,026,814.40. This represents a 2.59 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Aaron Ondrey sold 7,489 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 129,650 shares in the company, valued at approximately $685,848.50. This represents a 5.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 28.50% of the company’s stock.

Rocket Pharmaceuticals Stock Up 2.9 %

Shares of Rocket Pharmaceuticals stock opened at $6.33 on Friday. The stock has a 50-day moving average price of $7.96 and a 200 day moving average price of $11.69. Rocket Pharmaceuticals, Inc. has a 1 year low of $4.55 and a 1 year high of $26.98. The company has a market cap of $674.97 million, a P/E ratio of -2.30 and a beta of 1.00. The company has a current ratio of 6.05, a quick ratio of 6.05 and a debt-to-equity ratio of 0.06.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on RCKT shares. Wedbush started coverage on Rocket Pharmaceuticals in a report on Monday, December 30th. They issued an “outperform” rating and a $32.00 price target for the company. Canaccord Genuity Group dropped their price objective on shares of Rocket Pharmaceuticals from $39.00 to $36.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. BMO Capital Markets assumed coverage on shares of Rocket Pharmaceuticals in a research note on Wednesday, March 12th. They set an “outperform” rating and a $50.00 target price on the stock. The Goldman Sachs Group decreased their target price on Rocket Pharmaceuticals from $29.00 to $15.00 and set a “neutral” rating for the company in a research note on Monday, March 3rd. Finally, Scotiabank lifted their target price on Rocket Pharmaceuticals from $51.00 to $52.00 and gave the stock a “sector outperform” rating in a report on Monday, March 3rd. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Rocket Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $43.00.

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.