111 Capital Purchases New Shares in Rocket Pharmaceuticals, Inc. $RCKT

111 Capital purchased a new stake in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) during the second quarter, Holdings Channel reports. The institutional investor purchased 22,592 shares of the biotechnology company’s stock, valued at approximately $55,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Rocket Pharmaceuticals by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 6,617,784 shares of the biotechnology company’s stock valued at $44,141,000 after acquiring an additional 40,189 shares during the period. Westfield Capital Management Co. LP grew its stake in Rocket Pharmaceuticals by 2.3% in the 1st quarter. Westfield Capital Management Co. LP now owns 4,820,701 shares of the biotechnology company’s stock valued at $32,154,000 after acquiring an additional 106,091 shares during the period. MPM Bioimpact LLC grew its stake in Rocket Pharmaceuticals by 58.6% in the 1st quarter. MPM Bioimpact LLC now owns 1,618,265 shares of the biotechnology company’s stock valued at $10,794,000 after acquiring an additional 597,706 shares during the period. Baker BROS. Advisors LP lifted its holdings in Rocket Pharmaceuticals by 1,030.1% in the 1st quarter. Baker BROS. Advisors LP now owns 1,097,079 shares of the biotechnology company’s stock valued at $7,318,000 after purchasing an additional 1,000,000 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Rocket Pharmaceuticals by 24.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 995,690 shares of the biotechnology company’s stock valued at $6,641,000 after purchasing an additional 192,905 shares in the last quarter. Institutional investors and hedge funds own 98.39% of the company’s stock.

Analysts Set New Price Targets

RCKT has been the topic of a number of research reports. Cantor Fitzgerald decreased their price objective on Rocket Pharmaceuticals from $10.00 to $8.00 and set an “overweight” rating on the stock in a report on Friday, August 8th. Bank of America upgraded Rocket Pharmaceuticals from a “neutral” rating to a “buy” rating and raised their price objective for the company from $4.00 to $10.00 in a report on Wednesday, August 20th. Chardan Capital restated a “buy” rating and issued a $11.00 price objective on shares of Rocket Pharmaceuticals in a report on Wednesday, August 20th. UBS Group decreased their price objective on Rocket Pharmaceuticals from $12.00 to $5.00 and set a “buy” rating on the stock in a report on Tuesday, June 17th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Rocket Pharmaceuticals in a report on Saturday, September 27th. Eight equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Rocket Pharmaceuticals presently has a consensus rating of “Hold” and an average target price of $16.67.

Insider Activity at Rocket Pharmaceuticals

In related news, Director Elisabeth Bjork acquired 10,000 shares of Rocket Pharmaceuticals stock in a transaction that occurred on Wednesday, August 27th. The shares were purchased at an average cost of $3.41 per share, for a total transaction of $34,100.00. Following the acquisition, the director owned 40,000 shares in the company, valued at approximately $136,400. This represents a 33.33% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jonathan David Schwartz sold 11,161 shares of the business’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $3.02, for a total transaction of $33,706.22. Following the completion of the sale, the insider owned 224,094 shares in the company, valued at approximately $676,763.88. This trade represents a 4.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,450 shares of company stock worth $107,159. Company insiders own 24.76% of the company’s stock.

Rocket Pharmaceuticals Stock Down 1.3%

NASDAQ RCKT opened at $3.14 on Wednesday. Rocket Pharmaceuticals, Inc. has a 52 week low of $2.19 and a 52 week high of $18.89. The company has a quick ratio of 6.39, a current ratio of 6.39 and a debt-to-equity ratio of 0.05. The business’s fifty day simple moving average is $3.20 and its 200-day simple moving average is $4.24. The firm has a market cap of $338.81 million, a PE ratio of -1.25 and a beta of 0.60.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its quarterly earnings results on Thursday, August 7th. The biotechnology company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.57) by ($0.02). During the same period last year, the firm posted ($0.74) earnings per share. As a group, equities analysts anticipate that Rocket Pharmaceuticals, Inc. will post -2.83 earnings per share for the current year.

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.