Northern Trust Corp Has $8.34 Million Holdings in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Northern Trust Corp increased its position in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 14.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 663,152 shares of the biotechnology company’s stock after acquiring an additional 82,316 shares during the quarter. Northern Trust Corp owned 0.73% of Rocket Pharmaceuticals worth $8,336,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. SG Americas Securities LLC grew its position in Rocket Pharmaceuticals by 796.2% during the fourth quarter. SG Americas Securities LLC now owns 54,921 shares of the biotechnology company’s stock valued at $690,000 after purchasing an additional 48,793 shares in the last quarter. Jennison Associates LLC grew its position in Rocket Pharmaceuticals by 72.6% during the fourth quarter. Jennison Associates LLC now owns 70,304 shares of the biotechnology company’s stock valued at $884,000 after purchasing an additional 29,564 shares in the last quarter. Sovran Advisors LLC purchased a new position in Rocket Pharmaceuticals during the fourth quarter valued at approximately $1,895,000. Raymond James Financial Inc. purchased a new position in Rocket Pharmaceuticals during the fourth quarter valued at approximately $285,000. Finally, Strategic Financial Concepts LLC purchased a new position in Rocket Pharmaceuticals during the fourth quarter valued at approximately $141,000. Institutional investors and hedge funds own 98.39% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Gaurav Shah bought 20,000 shares of the stock in a transaction that occurred on Thursday, April 10th. The shares were acquired at an average cost of $5.08 per share, for a total transaction of $101,600.00. Following the completion of the acquisition, the chief executive officer now owns 792,680 shares in the company, valued at approximately $4,026,814.40. This represents a 2.59% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Aaron Ondrey sold 7,489 shares of the company’s stock in a transaction on Friday, April 4th. The shares were sold at an average price of $5.29, for a total transaction of $39,616.81. Following the completion of the transaction, 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. Insiders own 24.76% of the company’s stock.

Wall Street Analysts Forecast Growth

RCKT has been the subject of several recent research reports. Needham & Company LLC reissued a “buy” rating and issued a $42.00 target price on shares of Rocket Pharmaceuticals in a research report on Wednesday, April 9th. BMO Capital Markets initiated coverage on shares of Rocket Pharmaceuticals in a research report on Wednesday, March 12th. They issued an “outperform” rating and a $50.00 target price for the company. Wedbush reissued an “outperform” rating and issued a $32.00 target price on shares of Rocket Pharmaceuticals in a research report on Friday. The Goldman Sachs Group decreased their target price on shares of Rocket Pharmaceuticals from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Friday, May 9th. Finally, Chardan Capital upped their price objective on shares of Rocket Pharmaceuticals from $45.00 to $46.00 and gave the stock a “buy” rating in a report on Friday. One 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.73.

Rocket Pharmaceuticals Trading Down 3.3%

Shares of RCKT stock opened at $6.50 on Monday. Rocket Pharmaceuticals, Inc. has a 52-week low of $4.55 and a 52-week high of $26.98. The stock has a market cap of $694.11 million, a price-to-earnings ratio of -2.36 and a beta of 1.02. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.05 and a current ratio of 6.05. The firm has a fifty day moving average of $6.93 and a 200-day moving average of $10.23.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its earnings results on Tuesday, May 13th. The biotechnology company reported ($0.56) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.58) by $0.02. During the same quarter last year, the firm posted ($0.66) EPS. On average, equities research analysts forecast that Rocket Pharmaceuticals, Inc. will post -2.83 earnings per share for the current fiscal year.

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.