Rocket Pharmaceuticals (NASDAQ:RCKT) Director Elisabeth Bjork Buys 10,000 Shares of Stock

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Director Elisabeth Bjork acquired 10,000 shares of the firm’s stock in a transaction on Wednesday, August 27th. The stock was purchased at an average price of $3.41 per share, with a total value of $34,100.00. Following the acquisition, the director owned 40,000 shares of the company’s stock, valued at $136,400. This represents a 33.33% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Rocket Pharmaceuticals Price Performance

RCKT opened at $3.32 on Thursday. The stock has a fifty day simple moving average of $3.03 and a two-hundred day simple moving average of $5.50. The company has a current ratio of 6.39, a quick ratio of 6.39 and a debt-to-equity ratio of 0.05. The company has a market cap of $358.23 million, a price-to-earnings ratio of -1.32 and a beta of 0.65. Rocket Pharmaceuticals, Inc. has a 12-month low of $2.19 and a 12-month high of $22.01.

Rocket Pharmaceuticals (NASDAQ:RCKT) last issued its quarterly earnings results on Thursday, August 7th. The biotechnology company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of ($0.57) by ($0.02). During the same quarter in the previous year, the company posted ($0.74) earnings per share. Research analysts predict that Rocket Pharmaceuticals, Inc. will post -2.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rocket Pharmaceuticals

Several hedge funds have recently bought and sold shares of the business. Maverick Capital Ltd. raised its stake in Rocket Pharmaceuticals by 60.9% in the second quarter. Maverick Capital Ltd. now owns 8,363,813 shares of the biotechnology company’s stock valued at $20,491,000 after buying an additional 3,164,595 shares during the last quarter. Vanguard Group Inc. raised its stake in Rocket Pharmaceuticals by 0.6% in the first quarter. Vanguard Group Inc. now owns 6,617,784 shares of the biotechnology company’s stock valued at $44,141,000 after buying an additional 40,189 shares during the last quarter. Westfield Capital Management Co. LP raised its stake in Rocket Pharmaceuticals by 2.3% in the first quarter. Westfield Capital Management Co. LP now owns 4,820,701 shares of the biotechnology company’s stock valued at $32,154,000 after buying an additional 106,091 shares during the last quarter. Janus Henderson Group PLC raised its stake in Rocket Pharmaceuticals by 111.0% in the fourth quarter. Janus Henderson Group PLC now owns 4,004,039 shares of the biotechnology company’s stock valued at $50,343,000 after buying an additional 2,106,699 shares during the last quarter. Finally, MPM Bioimpact LLC raised its stake in Rocket Pharmaceuticals by 141.2% in the second quarter. MPM Bioimpact LLC now owns 3,903,081 shares of the biotechnology company’s stock valued at $9,563,000 after buying an additional 2,284,816 shares during the last quarter. Institutional investors own 98.39% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. restated a “neutral” rating on shares of Rocket Pharmaceuticals in a report on Wednesday, May 28th. UBS Group reduced their price target on Rocket Pharmaceuticals from $12.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, June 17th. Needham & Company LLC reaffirmed a “hold” rating on shares of Rocket Pharmaceuticals in a research report on Thursday, July 24th. Leerink Partners reiterated a “market perform” rating and issued a $8.00 price objective (down from $37.00) on shares of Rocket Pharmaceuticals in a report on Wednesday, May 28th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $11.00 price target on shares of Rocket Pharmaceuticals in a report on Wednesday, August 20th. Eight equities 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. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $16.73.

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.