Rocket Pharmaceuticals, Inc. $RCKT Shares Bought by Rhumbline Advisers

Rhumbline Advisers raised its stake in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 8.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 107,638 shares of the biotechnology company’s stock after acquiring an additional 8,299 shares during the period. Rhumbline Advisers owned 0.10% of Rocket Pharmaceuticals worth $718,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Signaturefd LLC boosted its stake in Rocket Pharmaceuticals by 83.6% in the first 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. Hsbc Holdings PLC acquired a new stake in shares of Rocket Pharmaceuticals during the first quarter worth about $69,000. LJI Wealth Management LLC acquired a new stake in shares of Rocket Pharmaceuticals during the first quarter worth about $80,000. Victory Capital Management Inc. boosted its stake 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 buying an additional 1,658 shares during the period. Finally, Powell Investment Advisors LLC acquired a new stake in shares of Rocket Pharmaceuticals during the first quarter worth about $83,000. Institutional investors and hedge funds own 98.39% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on RCKT shares. Canaccord Genuity Group decreased their target price on shares of Rocket Pharmaceuticals from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, July 25th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Rocket Pharmaceuticals in a research note on Wednesday, May 28th. The Goldman Sachs Group downgraded shares of Rocket Pharmaceuticals from a “neutral” rating to a “sell” rating in a research note on Wednesday, May 28th. TD Cowen reiterated a “hold” rating on shares of Rocket Pharmaceuticals in a research note on Tuesday, May 27th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $7.00 target price on shares of Rocket Pharmaceuticals in a research note on Wednesday, May 28th. Eight research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $16.73.

Insider Activity

In other news, insider Jonathan David Schwartz sold 11,161 shares of the 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 sale, the insider directly owned 224,094 shares in the company, valued at $676,763.88. This represents a 4.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Elisabeth Bjork purchased 10,000 shares of the stock in a transaction dated Wednesday, August 27th. The stock was acquired at an average price of $3.41 per share, for a total transaction of $34,100.00. Following the completion of the transaction, the director directly owned 40,000 shares of the company’s stock, valued at approximately $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 worth $111,413 over the last ninety days. 24.76% of the stock is currently owned by insiders.

Rocket Pharmaceuticals Stock Down 3.2%

RCKT stock opened at $3.07 on Monday. The company’s 50 day simple moving average is $3.18 and its 200-day simple moving average is $4.65. The firm has a market capitalization of $331.27 million, a PE ratio of -1.22 and a beta of 0.62. Rocket Pharmaceuticals, Inc. has a 12 month low of $2.19 and a 12 month high of $21.29. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.39 and a quick ratio of 6.39.

Rocket Pharmaceuticals (NASDAQ:RCKT) last released its quarterly earnings results on Thursday, August 7th. The biotechnology company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.57) by ($0.02). During the same quarter last year, the business posted ($0.74) EPS. Equities analysts expect 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.