Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. reduced its stake in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) by 62.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 653,559 shares of the biotechnology company's stock after selling 1,076,785 shares during the period. Franklin Resources Inc. owned 0.72% of Rocket Pharmaceuticals worth $8,215,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Signaturefd LLC grew its stake in Rocket Pharmaceuticals by 319.8% in the 4th quarter. Signaturefd LLC now owns 4,916 shares of the biotechnology company's stock worth $62,000 after acquiring an additional 3,745 shares during the period. Harbour Investments Inc. grew its position in shares of Rocket Pharmaceuticals by 51.9% in the fourth quarter. Harbour Investments Inc. now owns 5,385 shares of the biotechnology company's stock valued at $68,000 after purchasing an additional 1,840 shares during the period. KBC Group NV increased its stake in Rocket Pharmaceuticals by 159.6% in the fourth quarter. KBC Group NV now owns 5,475 shares of the biotechnology company's stock valued at $69,000 after purchasing an additional 3,366 shares during the last quarter. E Fund Management Co. Ltd. purchased a new position in Rocket Pharmaceuticals during the fourth quarter worth about $139,000. Finally, Strategic Financial Concepts LLC purchased a new stake in Rocket Pharmaceuticals in the 4th quarter valued at about $141,000. 98.39% of the stock is currently owned by hedge funds and other institutional investors.

Rocket Pharmaceuticals Stock Up 10.9 %

RCKT stock traded up $0.65 during trading on Tuesday, reaching $6.56. The stock had a trading volume of 1,849,036 shares, compared to its average volume of 1,245,696. The firm has a fifty day moving average price of $8.27 and a 200 day moving average price of $11.96. 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 company has a market capitalization of $698.96 million, a P/E ratio of -2.39 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.

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Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last issued 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. On average, equities analysts anticipate that Rocket Pharmaceuticals, Inc. will post -2.83 earnings per share for the current year.

Analyst Ratings Changes

RCKT has been the topic of a number of research analyst reports. BMO Capital Markets began coverage on shares of Rocket Pharmaceuticals in a report on Wednesday, March 12th. They issued an "outperform" rating and a $50.00 price target on the stock. Canaccord Genuity Group dropped their price target on Rocket Pharmaceuticals from $39.00 to $36.00 and set a "buy" rating for the company in a research note on Monday, March 3rd. The Goldman Sachs Group reduced their price objective on Rocket Pharmaceuticals from $29.00 to $15.00 and set a "neutral" rating on the stock in a research note on Monday, March 3rd. Needham & Company LLC reissued a "buy" rating and set a $42.00 target price on shares of Rocket Pharmaceuticals in a research report on Wednesday, April 9th. Finally, Jefferies Financial Group assumed coverage on shares of Rocket Pharmaceuticals in a research report on Wednesday, December 18th. They set a "buy" rating and a $29.00 price target on the stock. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, Rocket Pharmaceuticals has an average rating of "Moderate Buy" and an average target price of $43.00.

Insider Buying and Selling

In other news, CFO Aaron Ondrey sold 7,489 shares of the business's stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $5.29, for a total value of $39,616.81. Following the completion of the sale, the chief financial officer now owns 129,650 shares of the company's stock, valued at approximately $685,848.50. The trade was a 5.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kinnari Patel purchased 21,099 shares of Rocket Pharmaceuticals stock in a transaction dated Wednesday, April 9th. The shares were bought at an average cost of $4.70 per share, for a total transaction of $99,165.30. Following the transaction, the insider now directly owns 26,774 shares of the company's stock, valued at approximately $125,837.80. The trade was a 371.79 % increase in their position. The disclosure for this purchase can be found here. Insiders own 28.50% of the company's stock.

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.