Farther Finance Advisors LLC Has $33,000 Stock Position in Rocket Pharmaceuticals, Inc. $RCKT

Farther Finance Advisors LLC increased its position in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 7,818.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,540 shares of the biotechnology company’s stock after buying an additional 13,369 shares during the quarter. Farther Finance Advisors LLC’s holdings in Rocket Pharmaceuticals were worth $33,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Signaturefd LLC lifted 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 purchasing an additional 4,108 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in shares of Rocket Pharmaceuticals in the first quarter worth $69,000. LJI Wealth Management LLC purchased a new stake in shares of Rocket Pharmaceuticals in the first quarter worth $80,000. Victory Capital Management Inc. increased its stake in Rocket Pharmaceuticals by 16.1% in the first 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 during the last quarter. Finally, Powell Investment Advisors LLC bought a new position in Rocket Pharmaceuticals in the first quarter valued at $83,000. 98.39% of the stock is owned by institutional investors.

Insider Activity at Rocket Pharmaceuticals

In other news, Director Elisabeth Bjork acquired 10,000 shares of the business’s stock in a transaction on Wednesday, August 27th. The stock was bought at an average price of $3.41 per share, with a total value of $34,100.00. Following the completion of the acquisition, the director owned 40,000 shares of the company’s stock, valued at approximately $136,400. This represents a 33.33% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Martin Wilson sold 12,109 shares of the business’s stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $3.02, for a total transaction of $36,569.18. Following the sale, the general counsel directly owned 137,054 shares of the company’s stock, valued at $413,903.08. This represents a 8.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,450 shares of company stock worth $107,159 over the last three months. Company insiders own 24.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RCKT. Leerink Partners reduced their price objective on Rocket Pharmaceuticals from $9.00 to $7.00 and set a “market perform” rating on the stock in a research note on Friday, October 3rd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Rocket Pharmaceuticals in a report on Saturday, September 27th. UBS Group lowered their target price on shares of Rocket Pharmaceuticals from $12.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, June 17th. Canaccord Genuity Group decreased their price objective on shares of Rocket Pharmaceuticals from $11.00 to $10.00 and set a “buy” rating for the company in a report on Friday, July 25th. Finally, Bank of America upgraded shares of Rocket Pharmaceuticals from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $4.00 to $10.00 in a report on Wednesday, August 20th. Eight investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $16.67.

Rocket Pharmaceuticals Stock Performance

Shares of NASDAQ:RCKT opened at $3.14 on Wednesday. The firm has a market cap of $338.81 million, a PE ratio of -1.25 and a beta of 0.60. The firm’s 50 day simple moving average is $3.20 and its 200-day simple moving average is $4.24. The company has a debt-to-equity ratio of 0.05, a quick ratio of 6.39 and a current ratio of 6.39. Rocket Pharmaceuticals, Inc. has a one year low of $2.19 and a one year high of $18.89.

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

Rocket Pharmaceuticals Company 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.