Price T Rowe Associates Inc. MD Has $39.58 Million Position in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Price T Rowe Associates Inc. MD cut its stake in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 1.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,148,520 shares of the biotechnology company’s stock after selling 59,261 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Rocket Pharmaceuticals were worth $39,578,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Covestor Ltd lifted its position in Rocket Pharmaceuticals by 33,166.7% during the fourth quarter. Covestor Ltd now owns 1,996 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 1,990 shares during the period. Signaturefd LLC lifted its holdings in shares of 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 acquiring an additional 3,745 shares during the period. Harbour Investments Inc. lifted its holdings in shares of Rocket Pharmaceuticals by 51.9% during the 4th quarter. Harbour Investments Inc. now owns 5,385 shares of the biotechnology company’s stock worth $68,000 after acquiring an additional 1,840 shares during the period. KBC Group NV boosted its position in shares of Rocket Pharmaceuticals by 159.6% during the 4th quarter. KBC Group NV now owns 5,475 shares of the biotechnology company’s stock worth $69,000 after acquiring an additional 3,366 shares in the last quarter. Finally, E Fund Management Co. Ltd. acquired a new position in Rocket Pharmaceuticals during the fourth quarter valued at approximately $139,000. 98.39% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RCKT. Scotiabank raised their target price on Rocket Pharmaceuticals from $51.00 to $52.00 and gave the company a “sector outperform” rating in a report on Monday, March 3rd. Canaccord Genuity Group reduced their price objective on Rocket Pharmaceuticals from $39.00 to $36.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Chardan Capital lowered 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 reissued a “buy” rating and issued a $42.00 target price on shares of Rocket Pharmaceuticals in a report on Wednesday, April 9th. Finally, The Goldman Sachs Group decreased their price target on shares of Rocket Pharmaceuticals from $29.00 to $15.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Rocket Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Rocket Pharmaceuticals Trading Up 1.7 %

RCKT opened at $7.28 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.05 and a quick ratio of 6.05. Rocket Pharmaceuticals, Inc. has a fifty-two week low of $4.55 and a fifty-two week high of $26.98. The company’s 50 day moving average price is $7.50 and its two-hundred day moving average price is $11.23. The firm has a market capitalization of $776.27 million, a price-to-earnings ratio of -2.65 and a beta of 1.00.

Rocket Pharmaceuticals (NASDAQ:RCKT) last issued its quarterly earnings data on Monday, March 3rd. The biotechnology company reported ($0.62) earnings per share for the quarter, topping the consensus estimate of ($0.68) by $0.06. As a group, research analysts predict that Rocket Pharmaceuticals, Inc. will post -2.83 earnings per share for the current year.

Insider Buying and Selling at Rocket Pharmaceuticals

In related news, insider Kinnari Patel acquired 21,099 shares of the business’s stock in a transaction that occurred on Wednesday, April 9th. The shares were bought at an average cost of $4.70 per share, with a total value of $99,165.30. Following the completion of the purchase, the insider now directly owns 26,774 shares in the company, valued at $125,837.80. The trade was a 371.79 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Gaurav Shah bought 20,000 shares of the firm’s stock in a transaction on Thursday, April 10th. The shares were purchased at an average cost of $5.08 per share, with a total value of $101,600.00. Following the transaction, the chief executive officer now directly owns 792,680 shares in the company, valued at approximately $4,026,814.40. This trade represents a 2.59 % increase in their position. The disclosure for this purchase can be found here. Corporate 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.