Rocket Pharmaceuticals, Inc. $RCKT Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. raised its holdings in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 0.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,617,784 shares of the biotechnology company’s stock after acquiring an additional 40,189 shares during the quarter. Vanguard Group Inc. owned approximately 6.20% of Rocket Pharmaceuticals worth $44,141,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Envestnet Asset Management Inc. raised its stake in Rocket Pharmaceuticals by 4.1% during the 4th quarter. Envestnet Asset Management Inc. now owns 32,422 shares of the biotechnology company’s stock worth $408,000 after acquiring an additional 1,280 shares in the last quarter. Virtus ETF Advisers LLC grew its holdings in shares of Rocket Pharmaceuticals by 40.4% during the fourth quarter. Virtus ETF Advisers LLC now owns 5,656 shares of the biotechnology company’s stock worth $71,000 after purchasing an additional 1,628 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Rocket Pharmaceuticals by 16.1% during the first quarter. Victory Capital Management Inc. now owns 11,929 shares of the biotechnology company’s stock worth $80,000 after purchasing an additional 1,658 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its position in shares of Rocket Pharmaceuticals by 10.7% during the first quarter. China Universal Asset Management Co. Ltd. now owns 21,388 shares of the biotechnology company’s stock worth $143,000 after purchasing an additional 2,059 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Rocket Pharmaceuticals by 3.3% in the 4th quarter. Legal & General Group Plc now owns 75,454 shares of the biotechnology company’s stock valued at $948,000 after purchasing an additional 2,416 shares during the last quarter. Hedge funds and other institutional investors own 98.39% of the company’s stock.

Rocket Pharmaceuticals Trading Down 2.7%

NASDAQ RCKT opened at $3.54 on Tuesday. The company has a quick ratio of 6.39, a current ratio of 6.39 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $381.97 million, a P/E ratio of -1.41 and a beta of 0.65. Rocket Pharmaceuticals, Inc. has a 52-week low of $2.19 and a 52-week high of $22.01. The firm has a 50-day moving average price of $3.01 and a 200 day moving average price of $5.53.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its quarterly earnings data on Thursday, August 7th. The biotechnology company reported ($0.59) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.02). During the same quarter in the prior year, the firm earned ($0.74) earnings per share. Equities research analysts expect that Rocket Pharmaceuticals, Inc. will post -2.83 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. TD Cowen reissued a “hold” rating on shares of Rocket Pharmaceuticals in a research report on Tuesday, May 27th. The Goldman Sachs Group downgraded Rocket Pharmaceuticals from a “neutral” rating to a “sell” rating in a report on Wednesday, May 28th. BMO Capital Markets cut their target price on shares of Rocket Pharmaceuticals from $30.00 to $8.00 and set an “outperform” rating on the stock in a report on Wednesday, May 28th. Wedbush reiterated an “outperform” rating and issued a $32.00 price target on shares of Rocket Pharmaceuticals in a research report on Friday, May 16th. Finally, Leerink Partnrs cut shares of Rocket Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 27th. Eight analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $16.73.

Insider Buying and Selling

In related news, insider Jonathan David Schwartz sold 11,161 shares of Rocket Pharmaceuticals stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $3.02, for a total value of $33,706.22. Following the sale, the insider directly owned 224,094 shares in the company, valued at $676,763.88. The trade was a 4.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Martin Wilson sold 12,109 shares of the stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $3.02, for a total value of $36,569.18. Following the completion of the transaction, the general counsel owned 137,054 shares of the company’s stock, valued at $413,903.08. The trade was a 8.12% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,927 shares of company stock worth $111,413. Company insiders own 24.76% of the company’s stock.

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.