ADAR1 Capital Management LLC Purchases 207,100 Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

ADAR1 Capital Management LLC grew its holdings in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) by 4,816.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 211,400 shares of the biotechnology company's stock after purchasing an additional 207,100 shares during the quarter. ADAR1 Capital Management LLC owned about 0.23% of Rocket Pharmaceuticals worth $2,657,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Wellington Management Group LLP boosted its position in Rocket Pharmaceuticals by 24.5% in the 4th quarter. Wellington Management Group LLP now owns 13,995,177 shares of the biotechnology company's stock valued at $175,919,000 after buying an additional 2,753,033 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Rocket Pharmaceuticals by 18.8% during the 4th quarter. Vanguard Group Inc. now owns 6,577,595 shares of the biotechnology company's stock worth $82,680,000 after buying an additional 1,040,655 shares during the period. State Street Corp raised its stake in shares of Rocket Pharmaceuticals by 11.6% during the third quarter. State Street Corp now owns 3,102,022 shares of the biotechnology company's stock worth $57,294,000 after buying an additional 322,156 shares during the last quarter. Geode Capital Management LLC grew its holdings in Rocket Pharmaceuticals by 8.4% during the 4th quarter. Geode Capital Management LLC now owns 1,752,975 shares of the biotechnology company's stock worth $22,041,000 after acquiring an additional 135,109 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Rocket Pharmaceuticals by 15.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 656,090 shares of the biotechnology company's stock valued at $8,247,000 after purchasing an additional 86,276 shares during the period. Institutional investors own 98.39% of the company's stock.

Remove Ads

Insider Buying and Selling at Rocket Pharmaceuticals

In other Rocket Pharmaceuticals news, CFO Aaron Ondrey sold 7,489 shares of the business's stock in a transaction that occurred 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 transaction, the chief financial officer now owns 129,650 shares of the company's stock, valued at $685,848.50. The trade was a 5.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kinnari Patel acquired 21,099 shares of the firm's stock in a transaction on Wednesday, April 9th. The stock was bought at an average price of $4.70 per share, for a total transaction of $99,165.30. Following the completion of the acquisition, the insider now owns 26,774 shares of the company's stock, valued at approximately $125,837.80. The trade was a 371.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 28.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on RCKT shares. Wedbush started coverage on Rocket Pharmaceuticals in a report on Monday, December 30th. They issued an "outperform" rating and a $32.00 price objective for the company. Needham & Company LLC reaffirmed a "buy" rating and set a $42.00 price objective on shares of Rocket Pharmaceuticals in a research note on Wednesday. Scotiabank boosted their target price on Rocket Pharmaceuticals from $51.00 to $52.00 and gave the company a "sector outperform" rating in a research note on Monday, March 3rd. Jefferies Financial Group initiated coverage on Rocket Pharmaceuticals in a report on Wednesday, December 18th. They issued a "buy" rating and a $29.00 price target for the company. Finally, BMO Capital Markets began coverage on Rocket Pharmaceuticals in a report on Wednesday, March 12th. They set an "outperform" rating and a $50.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Rocket Pharmaceuticals currently has an average rating of "Moderate Buy" and an average price target of $43.00.

Rocket Pharmaceuticals Stock Up 6.7 %

RCKT traded up $0.33 during trading hours on Friday, hitting $5.27. 5,069,673 shares of the company's stock were exchanged, compared to its average volume of 1,230,549. The stock has a market cap of $561.94 million, a price-to-earnings ratio of -1.92 and a beta of 1.00. Rocket Pharmaceuticals, Inc. has a 1-year low of $4.55 and a 1-year high of $26.98. The stock's 50-day moving average is $8.38 and its two-hundred day moving average is $12.09. 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 - Get Free Report) last posted its quarterly earnings data on Monday, March 3rd. The biotechnology company reported ($0.62) EPS for the quarter, topping analysts' consensus estimates of ($0.68) by $0.06. Sell-side analysts predict that Rocket Pharmaceuticals, Inc. will post -2.83 earnings per share for the current fiscal 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.