Charles Schwab Investment Management Inc. Grows Stake in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Charles Schwab Investment Management Inc. increased its stake in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) by 15.1% in the 4th quarter, according to the company in its most recent disclosure with the 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 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SG Americas Securities LLC lifted its stake in Rocket Pharmaceuticals by 796.2% in the 4th quarter. SG Americas Securities LLC now owns 54,921 shares of the biotechnology company's stock worth $690,000 after purchasing an additional 48,793 shares in the last quarter. Jennison Associates LLC raised its position in shares of Rocket Pharmaceuticals by 72.6% in the fourth quarter. Jennison Associates LLC now owns 70,304 shares of the biotechnology company's stock worth $884,000 after buying an additional 29,564 shares in the last quarter. Mirador Capital Partners LP boosted its stake in Rocket Pharmaceuticals by 403.9% during the fourth quarter. Mirador Capital Partners LP now owns 84,529 shares of the biotechnology company's stock valued at $1,063,000 after buying an additional 67,755 shares during the period. Sovran Advisors LLC purchased a new position in Rocket Pharmaceuticals during the fourth quarter worth about $1,895,000. Finally, Strategic Financial Concepts LLC bought a new position in Rocket Pharmaceuticals in the 4th quarter worth about $141,000. 98.39% of the stock is currently owned by institutional investors.

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Wall Street Analyst Weigh In

Several research analysts have recently commented on RCKT shares. Wedbush assumed coverage on Rocket Pharmaceuticals in a report on Monday, December 30th. They set an "outperform" rating and a $32.00 price objective for the company. BMO Capital Markets initiated coverage on shares of Rocket Pharmaceuticals in a research note on Wednesday, March 12th. They issued an "outperform" rating and a $50.00 price target for the company. The Goldman Sachs Group decreased their price target on shares of Rocket Pharmaceuticals from $29.00 to $15.00 and set a "neutral" rating on the stock in a report on Monday, March 3rd. Needham & Company LLC dropped their price objective on shares of Rocket Pharmaceuticals from $52.00 to $42.00 and set a "buy" rating for the company in a report on Friday, February 28th. Finally, Scotiabank increased 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. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Rocket Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus price target of $43.00.

Rocket Pharmaceuticals Trading Up 2.5 %

RCKT traded up $0.19 on Thursday, hitting $7.88. 1,934,034 shares of the company were exchanged, compared to its average volume of 1,017,739. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.05 and a current ratio of 6.05. The firm has a fifty day simple moving average of $9.73 and a two-hundred day simple moving average of $13.40. The stock has a market capitalization of $840.24 million, a PE ratio of -2.87 and a beta of 1.03. Rocket Pharmaceuticals, Inc. has a 12 month low of $7.65 and a 12 month high of $27.30.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last released its quarterly earnings data on Monday, March 3rd. The biotechnology company reported ($0.62) earnings per share for the quarter, beating analysts' consensus estimates of ($0.68) by $0.06. Sell-side analysts expect that Rocket Pharmaceuticals, Inc. will post -2.83 earnings per share for the current year.

Rocket Pharmaceuticals Company 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.