Toronto Dominion Bank Takes Position in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Toronto Dominion Bank acquired a new stake in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,100,000 shares of the biotechnology company’s stock, valued at approximately $13,827,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. SG Americas Securities LLC grew its holdings in shares of Rocket Pharmaceuticals by 796.2% during the fourth quarter. SG Americas Securities LLC now owns 54,921 shares of the biotechnology company’s stock valued at $690,000 after purchasing an additional 48,793 shares during the last quarter. Jennison Associates LLC boosted its position in Rocket Pharmaceuticals by 72.6% during the 4th quarter. Jennison Associates LLC now owns 70,304 shares of the biotechnology company’s stock valued at $884,000 after purchasing an additional 29,564 shares during the period. Sovran Advisors LLC bought a new position in Rocket Pharmaceuticals during the 4th quarter worth $1,895,000. Raymond James Financial Inc. bought a new position in Rocket Pharmaceuticals during the 4th quarter worth $285,000. Finally, Strategic Financial Concepts LLC acquired a new stake in Rocket Pharmaceuticals in the fourth quarter worth $141,000. Institutional investors and hedge funds own 98.39% of the company’s stock.

Rocket Pharmaceuticals Stock Performance

RCKT opened at $6.45 on Tuesday. The business has a 50 day moving average price of $6.89 and a two-hundred day moving average price of $10.16. 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 company has a market capitalization of $688.77 million, a price-to-earnings ratio of -2.35 and a beta of 1.02. Rocket Pharmaceuticals, Inc. has a 1-year low of $4.55 and a 1-year high of $26.98.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its quarterly earnings data 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 last year, the business posted ($0.66) earnings per share. Research analysts predict that Rocket Pharmaceuticals, Inc. will post -2.83 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. The Goldman Sachs Group reduced 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. Chardan Capital boosted their target price on shares of Rocket Pharmaceuticals from $45.00 to $46.00 and gave the company a “buy” rating in a research note on Friday. JPMorgan Chase & Co. dropped their price target on shares of Rocket Pharmaceuticals from $45.00 to $44.00 and set an “overweight” rating on the stock in a research note on Friday, May 9th. Wedbush reaffirmed an “outperform” rating and set a $32.00 price target on shares of Rocket Pharmaceuticals in a report on Friday. Finally, BMO Capital Markets started coverage on Rocket Pharmaceuticals in a report on Wednesday, March 12th. They issued an “outperform” rating and a $50.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Rocket Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $37.73.

Insider Activity

In other news, CFO Aaron Ondrey sold 7,489 shares of the firm’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 completion of the sale, the chief financial officer now directly owns 129,650 shares of the company’s stock, valued at $685,848.50. This trade represents a 5.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Kinnari Patel purchased 21,099 shares of the firm’s stock in a transaction that occurred on Wednesday, April 9th. The stock was bought at an average price of $4.70 per share, with a total value of $99,165.30. Following the transaction, the insider now directly owns 26,774 shares in the company, valued at $125,837.80. This trade represents a 371.79% 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 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.