Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lifted its holdings in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) by 15.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 656,090 shares of the biotechnology company's stock after purchasing an additional 86,276 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.72% of Rocket Pharmaceuticals worth $8,247,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. KBC Group NV increased its holdings in Rocket Pharmaceuticals by 159.6% in the 4th quarter. KBC Group NV now owns 5,475 shares of the biotechnology company's stock worth $69,000 after buying an additional 3,366 shares during the period. Strategic Financial Concepts LLC acquired a new stake in shares of Rocket Pharmaceuticals in the fourth quarter worth $141,000. Private Advisor Group LLC acquired a new position in Rocket Pharmaceuticals during the fourth quarter valued at $166,000. XTX Topco Ltd purchased a new stake in Rocket Pharmaceuticals in the third quarter valued at $286,000. Finally, Verition Fund Management LLC purchased a new stake in shares of Rocket Pharmaceuticals in the third quarter valued at approximately $290,000. Institutional investors and hedge funds own 98.39% of the company's stock.

Analyst Upgrades and Downgrades

RCKT has been the subject of several recent analyst reports. Wedbush initiated coverage on shares of Rocket Pharmaceuticals in a report on Monday, December 30th. They issued an "outperform" rating and a $32.00 price target for the company. Canaccord Genuity Group decreased their price target on shares of Rocket Pharmaceuticals from $39.00 to $36.00 and set a "buy" rating on the stock in a research note on Monday, March 3rd. Scotiabank lifted their price objective on Rocket Pharmaceuticals from $51.00 to $52.00 and gave the stock a "sector outperform" rating in a report on Monday, March 3rd. Needham & Company LLC reduced their target price on Rocket Pharmaceuticals from $52.00 to $42.00 and set a "buy" rating for the company in a report on Friday, February 28th. Finally, Jefferies Financial Group began coverage on Rocket Pharmaceuticals in a research report on Wednesday, December 18th. They issued a "buy" rating and a $29.00 target price on the stock. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Rocket Pharmaceuticals currently has an average rating of "Moderate Buy" and an average price target of $43.00.

Remove Ads

Rocket Pharmaceuticals Trading Down 4.0 %

Rocket Pharmaceuticals stock traded down $0.35 during mid-day trading on Tuesday, hitting $8.38. The company's stock had a trading volume of 417,209 shares, compared to its average volume of 1,003,401. The stock's fifty day moving average is $9.83 and its two-hundred day moving average is $13.52. The company has a current ratio of 6.05, a quick ratio of 6.05 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $893.56 million, a PE ratio of -3.05 and a beta of 1.03. Rocket Pharmaceuticals, Inc. has a 1 year low of $8.06 and a 1 year high of $27.71.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last released its quarterly earnings results on Monday, March 3rd. The biotechnology company reported ($0.62) earnings per share for the quarter, topping analysts' consensus estimates of ($0.68) by $0.06. On average, analysts anticipate that Rocket Pharmaceuticals, Inc. will post -2.83 EPS 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.