Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Shares Acquired by Sphera Funds Management LTD.

Sphera Funds Management LTD. lifted its position in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 17.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 271,792 shares of the biotechnology company’s stock after purchasing an additional 40,000 shares during the quarter. Sphera Funds Management LTD. owned 0.30% of Rocket Pharmaceuticals worth $3,416,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in RCKT. Covestor Ltd grew its stake in shares of 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 purchasing an additional 1,990 shares during the period. Signaturefd LLC grew its stake 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 purchasing an additional 3,745 shares during the period. Harbour Investments Inc. grew its stake 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 purchasing an additional 1,840 shares during the period. KBC Group NV grew its stake 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 purchasing an additional 3,366 shares during the period. Finally, Virtus ETF Advisers LLC grew its stake in shares of Rocket Pharmaceuticals by 40.4% during the 4th quarter. Virtus ETF Advisers LLC now owns 5,656 shares of the biotechnology company’s stock worth $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.

Rocket Pharmaceuticals Price Performance

Rocket Pharmaceuticals stock opened at $6.72 on Friday. Rocket Pharmaceuticals, Inc. has a 52-week low of $4.55 and a 52-week high of $26.98. The firm has a market capitalization of $717.60 million, a price-to-earnings ratio of -2.44 and a beta of 1.02. The company has a fifty day simple moving average of $6.97 and a 200-day simple moving average of $10.40. The company has a quick ratio of 6.05, a current ratio of 6.05 and a debt-to-equity ratio of 0.06.

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

Insider Transactions at Rocket Pharmaceuticals

In other news, CEO Gaurav Shah acquired 20,000 shares of the company’s stock in a transaction that occurred on Thursday, April 10th. The stock was purchased at an average price of $5.08 per share, with a total value of $101,600.00. Following the completion of the acquisition, the chief executive officer now owns 792,680 shares of the company’s stock, valued at $4,026,814.40. This trade represents a 2.59% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Kinnari Patel acquired 21,099 shares of the company’s stock in a transaction that occurred on Wednesday, April 9th. The stock was purchased at an average cost of $4.70 per share, with a total value of $99,165.30. Following the acquisition, the insider now directly owns 26,774 shares of the company’s stock, valued at $125,837.80. This trade represents a 371.79% increase in their position. The disclosure for this purchase can be found here. Insiders own 28.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on RCKT shares. Canaccord Genuity Group dropped their price objective on shares of Rocket Pharmaceuticals from $36.00 to $34.00 and set a “buy” rating on the stock in a research note on Monday. BMO Capital Markets assumed coverage on shares of Rocket Pharmaceuticals in a report on Wednesday, March 12th. They issued an “outperform” rating and a $50.00 price target for the company. Needham & Company LLC reissued a “buy” rating and issued a $42.00 price target on shares of Rocket Pharmaceuticals in a report on Wednesday, April 9th. Scotiabank cut their price target on shares of Rocket Pharmaceuticals from $52.00 to $51.00 and set a “sector outperform” rating for the company in a report on Monday. Finally, The Goldman Sachs Group cut their price target on shares of Rocket Pharmaceuticals from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Friday, May 9th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.82.

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.