75,000 Shares in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Purchased by LMR Partners LLP

LMR Partners LLP purchased a new position in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 75,000 shares of the biotechnology company’s stock, valued at approximately $943,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in RCKT. Covestor Ltd lifted its position in Rocket Pharmaceuticals by 33,166.7% during the 4th quarter. Covestor Ltd now owns 1,996 shares of the biotechnology company’s stock worth $25,000 after buying an additional 1,990 shares in the last quarter. Signaturefd LLC lifted its position in Rocket Pharmaceuticals by 319.8% during the 4th quarter. Signaturefd LLC now owns 4,916 shares of the biotechnology company’s stock worth $62,000 after buying an additional 3,745 shares in the last quarter. Harbour Investments Inc. lifted its position in Rocket Pharmaceuticals by 51.9% during the 4th quarter. Harbour Investments Inc. now owns 5,385 shares of the biotechnology company’s stock valued at $68,000 after purchasing an additional 1,840 shares during the period. KBC Group NV lifted its position in Rocket Pharmaceuticals by 159.6% during the 4th quarter. KBC Group NV now owns 5,475 shares of the biotechnology company’s stock valued at $69,000 after purchasing an additional 3,366 shares during the period. Finally, Virtus ETF Advisers LLC lifted its position in Rocket Pharmaceuticals by 40.4% during the 4th quarter. Virtus ETF Advisers LLC now owns 5,656 shares of the biotechnology company’s stock valued at $71,000 after purchasing an additional 1,628 shares during the period. Institutional investors and hedge funds own 98.39% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Scotiabank cut their target price on shares of Rocket Pharmaceuticals from $52.00 to $51.00 and set a “sector outperform” rating on the stock in a research report on Monday. Needham & Company LLC restated a “buy” rating and set a $42.00 target price on shares of Rocket Pharmaceuticals in a research report on Wednesday, April 9th. BMO Capital Markets assumed coverage on shares of Rocket Pharmaceuticals in a research report on Wednesday, March 12th. They set an “outperform” rating and a $50.00 target price on the stock. Canaccord Genuity Group cut their target price on shares of Rocket Pharmaceuticals from $36.00 to $34.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Chardan Capital cut their target price on shares of Rocket Pharmaceuticals from $54.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $40.82.

Rocket Pharmaceuticals Trading Down 5.6%

Shares of Rocket Pharmaceuticals stock opened at $6.61 on Wednesday. The firm has a market capitalization of $705.86 million, a PE ratio of -2.40 and a beta of 1.02. The company has a current ratio of 6.05, a quick ratio of 6.05 and a debt-to-equity ratio of 0.06. The firm’s 50 day moving average is $7.06 and its 200 day moving average is $10.50. Rocket Pharmaceuticals, Inc. has a 1 year low of $4.55 and a 1 year high of $26.98.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its quarterly earnings results on Tuesday, May 13th. The biotechnology company reported ($0.56) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.58) by $0.02. During the same quarter in the prior year, the business earned ($0.66) EPS. Equities research analysts forecast that Rocket Pharmaceuticals, Inc. will post -2.83 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Gaurav Shah bought 20,000 shares of the company’s stock in a transaction that occurred on Thursday, April 10th. The shares were bought at an average price of $5.08 per share, for a total transaction of $101,600.00. Following the transaction, the chief executive officer now directly owns 792,680 shares of the company’s stock, valued at approximately $4,026,814.40. The trade was a 2.59% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kinnari Patel bought 21,099 shares of the company’s stock in a transaction that occurred on Wednesday, April 9th. The shares were bought at an average price of $4.70 per share, for a total transaction of $99,165.30. Following the transaction, the insider now directly owns 26,774 shares in the company, valued at $125,837.80. This trade represents a 371.79% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 28.50% of the company’s stock.

Rocket Pharmaceuticals 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.