Geode Capital Management LLC Acquires 135,109 Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Geode Capital Management LLC raised its stake in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) by 8.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,752,975 shares of the biotechnology company's stock after purchasing an additional 135,109 shares during the period. Geode Capital Management LLC owned 1.92% of Rocket Pharmaceuticals worth $22,041,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RCKT. Hennion & Walsh Asset Management Inc. increased its stake in shares of Rocket Pharmaceuticals by 7.4% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 237,499 shares of the biotechnology company's stock valued at $2,985,000 after buying an additional 16,453 shares during the period. Mirador Capital Partners LP raised its holdings in Rocket Pharmaceuticals by 403.9% during the 4th quarter. Mirador Capital Partners LP now owns 84,529 shares of the biotechnology company's stock worth $1,063,000 after purchasing an additional 67,755 shares during the last quarter. SG Americas Securities LLC raised its holdings in Rocket Pharmaceuticals by 796.2% during 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 during the last quarter. KBC Group NV lifted its position in shares of 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 purchasing an additional 3,366 shares during the period. Finally, China Universal Asset Management Co. Ltd. increased its position in shares of Rocket Pharmaceuticals by 10.4% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 19,329 shares of the biotechnology company's stock worth $243,000 after buying an additional 1,824 shares during the period. 98.39% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Rocket Pharmaceuticals

In related news, insider Kinnari Patel acquired 21,099 shares of the company's stock in a transaction on Wednesday, April 9th. The shares were acquired at an average cost of $4.70 per share, for a total transaction of $99,165.30. Following the purchase, the insider now owns 26,774 shares in the company, valued at approximately $125,837.80. The trade was a 371.79 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Aaron Ondrey sold 7,489 shares of the company's stock in a transaction 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 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 disclosure for this sale can be found here. 28.50% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have commented on RCKT shares. Wedbush started coverage on shares of Rocket Pharmaceuticals in a research report on Monday, December 30th. They set an "outperform" rating and a $32.00 price target on the stock. Canaccord Genuity Group decreased their target price 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 lowered their target price on Rocket Pharmaceuticals from $29.00 to $15.00 and set a "neutral" rating for the company in a report on Monday, March 3rd. Scotiabank raised their price objective on shares of Rocket Pharmaceuticals from $51.00 to $52.00 and gave the stock a "sector outperform" rating in a research report on Monday, March 3rd. Finally, BMO Capital Markets assumed coverage on shares of Rocket Pharmaceuticals in a research report on Wednesday, March 12th. They set an "outperform" rating and a $50.00 target price on the stock. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Rocket Pharmaceuticals has a consensus rating of "Moderate Buy" and an average target price of $43.00.

Rocket Pharmaceuticals Stock Up 4.6 %

RCKT traded up $0.33 during trading on Thursday, hitting $7.47. 497,179 shares of the company's stock were exchanged, compared to its average volume of 2,181,026. The stock has a market cap of $796.42 million, a P/E ratio of -2.72 and a beta of 1.00. The business's 50 day moving average is $7.78 and its two-hundred day moving average is $11.53. Rocket Pharmaceuticals, Inc. has a fifty-two week low of $4.55 and a fifty-two week high of $26.98. 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 announced its quarterly earnings results on Monday, March 3rd. The biotechnology company reported ($0.62) earnings per share for the quarter, beating the consensus estimate of ($0.68) by $0.06. As a group, equities analysts expect that Rocket Pharmaceuticals, Inc. will post -2.83 earnings per share for the current fiscal year.

Rocket Pharmaceuticals 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.