Invesco Ltd. Buys 43,129 Shares of Rocket Pharmaceuticals, Inc. $RCKT

Invesco Ltd. grew its stake in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 12.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 400,969 shares of the biotechnology company’s stock after acquiring an additional 43,129 shares during the period. Invesco Ltd. owned 0.38% of Rocket Pharmaceuticals worth $2,674,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of RCKT. Signaturefd LLC grew its holdings in shares of Rocket Pharmaceuticals by 83.6% in the 1st quarter. Signaturefd LLC now owns 9,024 shares of the biotechnology company’s stock valued at $60,000 after acquiring an additional 4,108 shares in the last quarter. LJI Wealth Management LLC bought a new position in shares of Rocket Pharmaceuticals in the 1st quarter valued at about $80,000. Victory Capital Management Inc. grew its holdings in shares of Rocket Pharmaceuticals by 16.1% in the 1st quarter. Victory Capital Management Inc. now owns 11,929 shares of the biotechnology company’s stock valued at $80,000 after acquiring an additional 1,658 shares in the last quarter. Powell Investment Advisors LLC bought a new position in shares of Rocket Pharmaceuticals in the 1st quarter valued at about $83,000. Finally, CWM LLC grew its holdings in shares of Rocket Pharmaceuticals by 255.0% in the 1st quarter. CWM LLC now owns 13,223 shares of the biotechnology company’s stock valued at $88,000 after acquiring an additional 9,498 shares in the last quarter. Institutional investors own 98.39% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on RCKT shares. Scotiabank cut their target price on shares of Rocket Pharmaceuticals from $51.00 to $19.00 and set a “sector outperform” rating for the company in a research note on Wednesday, May 28th. Bank of America upgraded shares of Rocket Pharmaceuticals from a “neutral” rating to a “buy” rating and raised their target price for the company from $4.00 to $10.00 in a research note on Wednesday, August 20th. BMO Capital Markets cut their target price on shares of Rocket Pharmaceuticals from $30.00 to $8.00 and set an “outperform” rating for the company in a research note on Wednesday, May 28th. Needham & Company LLC reiterated a “hold” rating on shares of Rocket Pharmaceuticals in a research note on Thursday, July 24th. Finally, Jefferies Financial Group reiterated a “hold” rating on shares of Rocket Pharmaceuticals in a research note on Wednesday, May 28th. Eight equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $16.73.

Rocket Pharmaceuticals Stock Down 2.1%

NASDAQ RCKT opened at $3.28 on Friday. The company has a current ratio of 6.39, a quick ratio of 6.39 and a debt-to-equity ratio of 0.05. Rocket Pharmaceuticals, Inc. has a 1-year low of $2.19 and a 1-year high of $22.01. The company has a 50 day moving average of $3.05 and a 200-day moving average of $5.41. The company has a market cap of $353.91 million, a price-to-earnings ratio of -1.31 and a beta of 0.65.

Rocket Pharmaceuticals (NASDAQ:RCKT) last released its quarterly earnings results 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 business posted ($0.74) EPS. On average, equities research analysts expect that Rocket Pharmaceuticals, Inc. will post -2.83 earnings per share for the current fiscal year.

Insider Activity at Rocket Pharmaceuticals

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 shares were sold at an average price of $3.02, for a total value of $33,706.22. Following the transaction, the insider directly owned 224,094 shares of the company’s stock, valued at $676,763.88. This trade represents a 4.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Elisabeth Bjork acquired 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 27th. The stock was purchased at an average cost of $3.41 per share, for a total transaction of $34,100.00. Following the completion of the purchase, the director directly owned 40,000 shares of the company’s stock, valued at $136,400. The trade was a 33.33% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 36,927 shares of company stock valued at $111,413 over the last three months. 24.76% of the stock is owned by 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.