253,723 Shares in Rocket Pharmaceuticals, Inc. $RCKT Purchased by Jump Financial LLC

Jump Financial LLC bought a new position in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 253,723 shares of the biotechnology company’s stock, valued at approximately $1,692,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Envestnet Asset Management Inc. raised its holdings in Rocket Pharmaceuticals by 4.1% during the fourth quarter. Envestnet Asset Management Inc. now owns 32,422 shares of the biotechnology company’s stock worth $408,000 after acquiring an additional 1,280 shares in the last quarter. Victory Capital Management Inc. raised its holdings in 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 acquiring an additional 1,658 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Rocket Pharmaceuticals by 8.4% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 21,885 shares of the biotechnology company’s stock worth $146,000 after acquiring an additional 1,689 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its stake in Rocket Pharmaceuticals by 10.7% in the first quarter. China Universal Asset Management Co. Ltd. now owns 21,388 shares of the biotechnology company’s stock valued at $143,000 after buying an additional 2,059 shares during the period. Finally, HighTower Advisors LLC raised its stake in Rocket Pharmaceuticals by 16.6% in the first quarter. HighTower Advisors LLC now owns 20,700 shares of the biotechnology company’s stock valued at $138,000 after buying an additional 2,952 shares during the period. Institutional investors own 98.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Canaccord Genuity Group dropped their price objective on Rocket Pharmaceuticals from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, July 25th. JPMorgan Chase & Co. restated a “neutral” rating on shares of Rocket Pharmaceuticals in a research note on Wednesday, May 28th. Bank of America upgraded Rocket Pharmaceuticals from a “neutral” rating to a “buy” rating and upped their price objective for the company from $4.00 to $10.00 in a research note on Wednesday, August 20th. Wedbush restated an “outperform” rating and issued a $32.00 price objective on shares of Rocket Pharmaceuticals in a research note on Friday, May 16th. Finally, Jefferies Financial Group restated 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 assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $16.73.

Insider Buying and Selling

In related news, General Counsel Martin Wilson sold 12,109 shares of the stock in a transaction that occurred on 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 owned 137,054 shares of the company’s stock, valued at $413,903.08. This represents a 8.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Elisabeth Bjork purchased 10,000 shares of Rocket Pharmaceuticals stock in a transaction that occurred on Wednesday, August 27th. The shares were bought at an average cost of $3.41 per share, for a total transaction of $34,100.00. Following the transaction, the director directly owned 40,000 shares of the company’s stock, valued at $136,400. This represents 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 90 days. 24.76% of the stock is owned by corporate insiders.

Rocket Pharmaceuticals Stock Performance

NASDAQ:RCKT opened at $3.32 on Thursday. The stock has a market cap of $358.23 million, a P/E ratio of -1.32 and a beta of 0.65. The stock has a 50 day simple moving average of $3.03 and a 200 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. Rocket Pharmaceuticals, Inc. has a 1-year low of $2.19 and a 1-year high of $22.01.

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 the consensus estimate of ($0.57) by ($0.02). During the same period last year, the business earned ($0.74) earnings per share. Research analysts anticipate that Rocket Pharmaceuticals, Inc. will post -2.83 earnings per share 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.