Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Holdings Raised by BNP Paribas Financial Markets

BNP Paribas Financial Markets grew its stake in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 302.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 158,439 shares of the biotechnology company’s stock after purchasing an additional 119,115 shares during the period. BNP Paribas Financial Markets owned about 0.17% of Rocket Pharmaceuticals worth $1,992,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. SG Americas Securities LLC lifted its stake in Rocket Pharmaceuticals by 796.2% in the 4th quarter. SG Americas Securities LLC now owns 54,921 shares of the biotechnology company’s stock worth $690,000 after acquiring an additional 48,793 shares in the last quarter. KBC Group NV lifted its stake in Rocket Pharmaceuticals by 159.6% in the 4th quarter. KBC Group NV now owns 5,475 shares of the biotechnology company’s stock worth $69,000 after acquiring an additional 3,366 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in Rocket Pharmaceuticals by 10.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 19,329 shares of the biotechnology company’s stock worth $243,000 after acquiring an additional 1,824 shares in the last quarter. Jennison Associates LLC lifted its stake in Rocket Pharmaceuticals by 72.6% in the 4th quarter. Jennison Associates LLC now owns 70,304 shares of the biotechnology company’s stock worth $884,000 after acquiring an additional 29,564 shares in the last quarter. Finally, Strategic Financial Concepts LLC purchased a new stake in Rocket Pharmaceuticals in the 4th quarter worth about $141,000. 98.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RCKT. Chardan Capital increased their price objective on Rocket Pharmaceuticals from $45.00 to $46.00 and gave the stock a “buy” rating in a research note on Friday. Cantor Fitzgerald increased their price objective on Rocket Pharmaceuticals from $20.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday. Needham & Company LLC reissued a “buy” rating and issued a $42.00 price objective on shares of Rocket Pharmaceuticals in a research note on Wednesday, April 9th. The Goldman Sachs Group cut their price target on Rocket Pharmaceuticals from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Friday, May 9th. Finally, Canaccord Genuity Group cut their price target on Rocket Pharmaceuticals from $36.00 to $34.00 and set a “buy” rating for the company in a research note on Monday, May 12th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.73.

Rocket Pharmaceuticals Stock Down 3.3%

Shares of RCKT stock opened at $6.50 on Friday. The stock’s 50 day simple moving average is $6.93 and its 200 day simple moving average is $10.28. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.05 and a current ratio of 6.05. Rocket Pharmaceuticals, Inc. has a twelve month low of $4.55 and a twelve month high of $26.98. The company has a market capitalization of $694.11 million, a price-to-earnings ratio of -2.36 and a beta of 1.02.

Rocket Pharmaceuticals (NASDAQ:RCKT) last issued its quarterly earnings data on Tuesday, May 13th. The biotechnology company reported ($0.56) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.58) by $0.02. During the same period in the prior year, the company earned ($0.66) earnings per share. As a group, research analysts predict that Rocket Pharmaceuticals, Inc. will post -2.83 EPS for the current year.

Insider Activity at Rocket Pharmaceuticals

In other Rocket Pharmaceuticals news, CEO Gaurav Shah bought 20,000 shares of the stock in a transaction on Thursday, April 10th. The shares were purchased at an average price of $5.08 per share, with a total value of $101,600.00. Following the acquisition, the chief executive officer now directly owns 792,680 shares of the company’s stock, valued at $4,026,814.40. This represents a 2.59% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Kinnari Patel bought 21,099 shares of the stock in a transaction on Wednesday, April 9th. The stock was acquired at an average cost of $4.70 per share, for a total transaction of $99,165.30. Following the acquisition, the insider now directly owns 26,774 shares in the company, valued at approximately $125,837.80. The trade was a 371.79% increase in their ownership of the stock. The disclosure for this purchase can be found here. 24.76% of the stock is owned by company insiders.

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.