Arizona State Retirement System Purchases 3,026 Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Arizona State Retirement System grew its holdings in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 15.3% in the 1st quarter, Holdings Channel reports. The fund owned 22,852 shares of the biotechnology company’s stock after buying an additional 3,026 shares during the period. Arizona State Retirement System’s holdings in Rocket Pharmaceuticals were worth $152,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in RCKT. Envestnet Asset Management Inc. grew its position in shares of Rocket Pharmaceuticals by 4.1% during the 4th quarter. Envestnet Asset Management Inc. now owns 32,422 shares of the biotechnology company’s stock worth $408,000 after buying an additional 1,280 shares during the period. Virtus ETF Advisers LLC lifted its holdings in shares of Rocket Pharmaceuticals by 40.4% in the fourth 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 in the last quarter. Covestor Ltd boosted 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 valued at $25,000 after buying an additional 1,990 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in Rocket Pharmaceuticals by 10.7% during the first quarter. China Universal Asset Management Co. Ltd. now owns 21,388 shares of the biotechnology company’s stock worth $143,000 after buying an additional 2,059 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Rocket Pharmaceuticals by 3.3% in the 4th quarter. Legal & General Group Plc now owns 75,454 shares of the biotechnology company’s stock worth $948,000 after acquiring an additional 2,416 shares in the last quarter. Institutional investors own 98.39% of the company’s stock.

Rocket Pharmaceuticals Stock Performance

NASDAQ RCKT opened at $3.37 on Wednesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 9.19 and a quick ratio of 9.19. Rocket Pharmaceuticals, Inc. has a 1-year low of $2.19 and a 1-year high of $26.98. The business has a 50 day simple moving average of $3.51 and a two-hundred day simple moving average of $6.86. The stock has a market capitalization of $359.88 million, a PE ratio of -1.28 and a beta of 0.67.

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on RCKT shares. Leerink Partners reissued a “market perform” rating and set a $8.00 price objective (down from $37.00) on shares of Rocket Pharmaceuticals in a report on Wednesday, May 28th. Jefferies Financial Group reiterated a “hold” rating on shares of Rocket Pharmaceuticals in a research note on Wednesday, May 28th. Evercore ISI cut shares of Rocket Pharmaceuticals from an “outperform” rating to an “in-line” rating and set a $5.00 price objective for the company. in a research note on Friday, May 30th. TD Cowen restated a “hold” rating on shares of Rocket Pharmaceuticals in a research report on Tuesday, May 27th. Finally, Needham & Company LLC cut shares of Rocket Pharmaceuticals from a “buy” rating to a “hold” rating and set a $42.00 price objective on the stock. in a research report on Tuesday, May 27th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Rocket Pharmaceuticals currently has a consensus rating of “Hold” and a consensus price target of $18.60.

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.