Rafferty Asset Management LLC Has $1.96 Million Stake in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Rafferty Asset Management LLC lifted its position in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 21.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 156,260 shares of the biotechnology company’s stock after purchasing an additional 27,534 shares during the quarter. Rafferty Asset Management LLC’s holdings in Rocket Pharmaceuticals were worth $1,964,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Covestor Ltd raised its position in shares of 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 raised its position 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 worth $62,000 after purchasing an additional 3,745 shares during the period. Harbour Investments Inc. raised its position in shares of Rocket Pharmaceuticals by 51.9% during the fourth quarter. Harbour Investments Inc. now owns 5,385 shares of the biotechnology company’s stock worth $68,000 after purchasing an additional 1,840 shares during the period. KBC Group NV raised its position in shares of Rocket Pharmaceuticals by 159.6% during the fourth quarter. KBC Group NV now owns 5,475 shares of the biotechnology company’s stock worth $69,000 after purchasing an additional 3,366 shares during the period. Finally, Virtus ETF Advisers LLC grew its holdings in Rocket Pharmaceuticals by 40.4% during the fourth quarter. Virtus ETF Advisers LLC now owns 5,656 shares of the biotechnology company’s stock worth $71,000 after buying an additional 1,628 shares in the last quarter. 98.39% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Aaron Ondrey sold 7,489 shares of the company’s stock in a transaction on Friday, April 4th. The stock was sold at an average price of $5.29, for a total transaction of $39,616.81. Following the transaction, the chief financial officer now owns 129,650 shares of the company’s stock, valued at $685,848.50. This represents a 5.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gaurav Shah purchased 20,000 shares of the company’s stock in a transaction dated Thursday, April 10th. The shares were purchased at an average cost 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 in the company, valued at approximately $4,026,814.40. The trade was a 2.59% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 24.76% of the company’s stock.

Rocket Pharmaceuticals Stock Up 6.2%

Shares of NASDAQ:RCKT opened at $6.85 on Wednesday. The company has a market capitalization of $731.48 million, a PE ratio of -2.49 and a beta of 1.02. 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 business has a fifty day moving average price of $6.85 and a two-hundred day moving average price of $10.14. Rocket Pharmaceuticals, Inc. has a 1 year low of $4.55 and a 1 year high of $26.98.

Rocket Pharmaceuticals (NASDAQ:RCKT) last issued its quarterly earnings results on Tuesday, May 13th. The biotechnology company reported ($0.56) EPS for the quarter, beating analysts’ consensus estimates of ($0.58) by $0.02. During the same period in the previous year, the firm posted ($0.66) EPS. Analysts forecast that Rocket Pharmaceuticals, Inc. will post -2.83 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Cantor Fitzgerald upped their price target on Rocket Pharmaceuticals from $20.00 to $30.00 and gave the stock an “overweight” rating in a report on Friday, May 16th. Chardan Capital upped their price target on Rocket Pharmaceuticals from $45.00 to $46.00 and gave the stock a “buy” rating in a report on Friday, May 16th. Wedbush reiterated an “outperform” rating and set a $32.00 price target on shares of Rocket Pharmaceuticals in a report on Friday, May 16th. The Goldman Sachs Group decreased their price target on Rocket Pharmaceuticals from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Friday, May 9th. Finally, Scotiabank reduced their price objective on Rocket Pharmaceuticals from $52.00 to $51.00 and set a “sector outperform” rating for the company in a research note on Monday, May 12th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Rocket Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $37.73.

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.