Vanguard Group Inc. Raises Position in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Vanguard Group Inc. raised its position in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 18.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 6,577,595 shares of the biotechnology company’s stock after purchasing an additional 1,040,655 shares during the period. Vanguard Group Inc. owned approximately 0.07% of Rocket Pharmaceuticals worth $82,680,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. KLP Kapitalforvaltning AS purchased a new position in shares of Rocket Pharmaceuticals during the fourth quarter worth approximately $192,000. Teacher Retirement System of Texas lifted its holdings in shares of Rocket Pharmaceuticals by 45.2% in the 4th quarter. Teacher Retirement System of Texas now owns 23,148 shares of the biotechnology company’s stock worth $291,000 after buying an additional 7,211 shares during the period. Privium Fund Management B.V. grew its position in shares of Rocket Pharmaceuticals by 34.9% during the 4th quarter. Privium Fund Management B.V. now owns 397,650 shares of the biotechnology company’s stock worth $4,998,000 after buying an additional 102,850 shares in the last quarter. Signaturefd LLC increased its stake in shares of Rocket Pharmaceuticals by 319.8% during the fourth quarter. Signaturefd LLC now owns 4,916 shares of the biotechnology company’s stock valued at $62,000 after buying an additional 3,745 shares during the period. Finally, Harbour Investments Inc. raised its holdings in shares of Rocket Pharmaceuticals by 51.9% in the fourth quarter. Harbour Investments Inc. now owns 5,385 shares of the biotechnology company’s stock valued at $68,000 after acquiring an additional 1,840 shares in the last quarter. 98.39% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RCKT has been the topic of a number of recent research reports. Wedbush began coverage on shares of Rocket Pharmaceuticals in a research note on Monday, December 30th. They set an “outperform” rating and a $32.00 price objective on the stock. Canaccord Genuity Group cut their price objective on shares of Rocket Pharmaceuticals from $39.00 to $36.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Chardan Capital reduced their target price on Rocket Pharmaceuticals from $62.00 to $54.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Needham & Company LLC reiterated a “buy” rating and issued a $42.00 price target on shares of Rocket Pharmaceuticals in a report on Wednesday. Finally, The Goldman Sachs Group reduced their price target on shares of Rocket Pharmaceuticals from $29.00 to $15.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $43.00.

Insider Transactions at Rocket Pharmaceuticals

In related news, CFO Aaron Ondrey sold 7,489 shares of Rocket Pharmaceuticals stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $5.29, for a total value of $39,616.81. Following the completion of the transaction, the chief financial officer now owns 129,650 shares in the company, valued at $685,848.50. The trade was a 5.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 28.50% of the company’s stock.

Rocket Pharmaceuticals Price Performance

Shares of NASDAQ RCKT opened at $5.40 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.05 and a quick ratio of 6.05. The stock has a market capitalization of $575.80 million, a price-to-earnings ratio of -1.96 and a beta of 1.00. The firm’s 50 day simple moving average is $8.61 and its 200-day simple moving average is $12.27. Rocket Pharmaceuticals, Inc. has a 12 month low of $4.55 and a 12 month high of $26.98.

Rocket Pharmaceuticals (NASDAQ:RCKT) last released its quarterly earnings results on Monday, March 3rd. The biotechnology company reported ($0.62) EPS for the quarter, beating the consensus estimate of ($0.68) by $0.06. Analysts expect that Rocket Pharmaceuticals, Inc. will post -2.83 EPS for the current 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.