Bellevue Group AG Buys Shares of 21,000 Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Bellevue Group AG bought a new stake in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKTFree Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 21,000 shares of the biotechnology company’s stock, valued at approximately $629,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RCKT. Wellington Management Group LLP grew its stake in Rocket Pharmaceuticals by 56.0% in the third quarter. Wellington Management Group LLP now owns 8,022,830 shares of the biotechnology company’s stock valued at $164,388,000 after purchasing an additional 2,880,373 shares in the last quarter. Westfield Capital Management Co. LP grew its stake in Rocket Pharmaceuticals by 14.7% in the third quarter. Westfield Capital Management Co. LP now owns 4,193,996 shares of the biotechnology company’s stock valued at $85,935,000 after purchasing an additional 538,209 shares in the last quarter. Comerica Bank purchased a new position in Rocket Pharmaceuticals in the third quarter valued at about $9,017,000. Franklin Resources Inc. grew its stake in Rocket Pharmaceuticals by 60.8% in the fourth quarter. Franklin Resources Inc. now owns 1,072,910 shares of the biotechnology company’s stock valued at $32,155,000 after purchasing an additional 405,855 shares in the last quarter. Finally, Avidity Partners Management LP grew its stake in Rocket Pharmaceuticals by 19.7% in the third quarter. Avidity Partners Management LP now owns 1,587,429 shares of the biotechnology company’s stock valued at $32,526,000 after purchasing an additional 261,429 shares in the last quarter. Hedge funds and other institutional investors own 98.39% of the company’s stock.

Insider Buying and Selling at Rocket Pharmaceuticals

In other Rocket Pharmaceuticals news, insider John Militello sold 1,079 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $23.35, for a total value of $25,194.65. Following the completion of the transaction, the insider now owns 53,327 shares of the company’s stock, valued at approximately $1,245,185.45. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Rocket Pharmaceuticals news, insider John Militello sold 1,079 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $23.35, for a total value of $25,194.65. Following the completion of the transaction, the insider now owns 53,327 shares of the company’s stock, valued at approximately $1,245,185.45. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Gaurav Shah sold 9,790 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $23.35, for a total value of $228,596.50. Following the completion of the transaction, the chief executive officer now directly owns 728,069 shares of the company’s stock, valued at approximately $17,000,411.15. The disclosure for this sale can be found here. Insiders sold a total of 381,772 shares of company stock valued at $10,411,590 in the last quarter. Corporate insiders own 31.10% of the company’s stock.

Rocket Pharmaceuticals Price Performance

Shares of NASDAQ:RCKT opened at $22.35 on Tuesday. The business has a 50 day moving average price of $23.08 and a 200 day moving average price of $26.23. Rocket Pharmaceuticals, Inc. has a twelve month low of $14.89 and a twelve month high of $32.53. The company has a market cap of $2.03 billion, a price-to-earnings ratio of -7.79 and a beta of 1.08. The company has a quick ratio of 10.47, a current ratio of 10.47 and a debt-to-equity ratio of 0.04.

Rocket Pharmaceuticals (NASDAQ:RCKTGet Free Report) last announced its earnings results on Monday, May 6th. The biotechnology company reported ($0.66) earnings per share for the quarter, beating the consensus estimate of ($0.67) by $0.01. During the same period in the prior year, the company posted ($0.73) EPS. Research analysts predict that Rocket Pharmaceuticals, Inc. will post -2.85 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. JPMorgan Chase & Co. decreased their price target on Rocket Pharmaceuticals from $55.00 to $50.00 and set an “overweight” rating for the company in a research note on Tuesday, February 27th. The Goldman Sachs Group assumed coverage on Rocket Pharmaceuticals in a research note on Tuesday, April 2nd. They set a “neutral” rating and a $39.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and set a $53.00 price target on shares of Rocket Pharmaceuticals in a research note on Tuesday, May 7th. William Blair reiterated an “outperform” rating on shares of Rocket Pharmaceuticals in a research note on Monday, June 3rd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $65.00 price target on shares of Rocket Pharmaceuticals in a research note on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Rocket Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $52.13.

Read Our Latest Stock Analysis on Rocket Pharmaceuticals

Rocket Pharmaceuticals Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Rocket Pharmaceuticals (NASDAQ:RCKT)

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