JPMorgan Chase & Co. Sells 41,024 Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

JPMorgan Chase & Co. lowered its position in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) by 7.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 515,528 shares of the biotechnology company's stock after selling 41,024 shares during the quarter. JPMorgan Chase & Co. owned about 0.57% of Rocket Pharmaceuticals worth $6,480,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. SG Americas Securities LLC boosted its position in Rocket Pharmaceuticals by 796.2% during the fourth quarter. SG Americas Securities LLC now owns 54,921 shares of the biotechnology company's stock valued at $690,000 after acquiring an additional 48,793 shares during the last quarter. Jennison Associates LLC boosted its position in shares of Rocket Pharmaceuticals by 72.6% during the 4th quarter. Jennison Associates LLC now owns 70,304 shares of the biotechnology company's stock worth $884,000 after purchasing an additional 29,564 shares in the last quarter. Mirador Capital Partners LP boosted its position in shares of 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 in the last quarter. Sovran Advisors LLC bought a new position in shares of Rocket Pharmaceuticals during the 4th quarter worth about $1,895,000. Finally, Strategic Financial Concepts LLC bought a new position in shares of Rocket Pharmaceuticals during the 4th quarter worth about $141,000. Institutional investors own 98.39% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on RCKT shares. Scotiabank increased 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. 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 objective on the stock. The Goldman Sachs Group cut their price objective on shares of Rocket Pharmaceuticals from $29.00 to $15.00 and set a "neutral" rating on the stock in a research report on Monday, March 3rd. Needham & Company LLC reissued a "buy" rating and set a $42.00 price objective on shares of Rocket Pharmaceuticals in a research report on Wednesday, April 9th. Finally, BMO Capital Markets initiated coverage on shares of Rocket Pharmaceuticals in a report on Wednesday, March 12th. They issued an "outperform" rating and a $50.00 target price on the stock. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $43.00.

Insiders Place Their Bets

In related news, CFO Aaron Ondrey sold 7,489 shares of Rocket Pharmaceuticals stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $5.29, for a total value of $39,616.81. Following 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 SEC, which can be accessed through this hyperlink. Also, insider Kinnari Patel purchased 21,099 shares of the stock in a transaction that occurred on Wednesday, April 9th. The stock was bought at an average cost of $4.70 per share, for a total transaction of $99,165.30. Following the acquisition, the insider now directly owns 26,774 shares in the company, valued at $125,837.80. This trade represents 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 Stock Performance

Shares of Rocket Pharmaceuticals stock traded up $0.30 during mid-day trading on Wednesday, hitting $7.27. 783,640 shares of the stock were exchanged, compared to its average volume of 1,305,889. Rocket Pharmaceuticals, Inc. has a 12 month low of $4.55 and a 12 month high of $26.98. The company has a 50-day simple moving average of $7.84 and a 200 day simple moving average of $11.56. 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 company has a market capitalization of $775.20 million, a P/E ratio of -2.64 and a beta of 1.00.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last posted its earnings results on Monday, March 3rd. The biotechnology company reported ($0.62) EPS for the quarter, topping the consensus estimate of ($0.68) by $0.06. Sell-side analysts anticipate 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.