Ovata Capital Management Ltd Buys New Stake in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Ovata Capital Management Ltd bought a new stake in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 200,000 shares of the biotechnology company's stock, valued at approximately $2,514,000. Rocket Pharmaceuticals accounts for about 1.0% of Ovata Capital Management Ltd's portfolio, making the stock its 21st largest position. Ovata Capital Management Ltd owned about 0.22% of Rocket Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in RCKT. Rhumbline Advisers lifted its holdings in Rocket Pharmaceuticals by 1.3% during the 4th quarter. Rhumbline Advisers now owns 99,339 shares of the biotechnology company's stock valued at $1,249,000 after purchasing an additional 1,242 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of Rocket Pharmaceuticals by 8.4% during the 4th quarter. Arizona State Retirement System now owns 19,826 shares of the biotechnology company's stock worth $249,000 after acquiring an additional 1,528 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Rocket Pharmaceuticals by 1.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 119,633 shares of the biotechnology company's stock valued at $2,210,000 after acquiring an additional 1,561 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Rocket Pharmaceuticals by 9.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,767 shares of the biotechnology company's stock worth $347,000 after buying an additional 1,675 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its position in Rocket Pharmaceuticals by 10.4% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 19,329 shares of the biotechnology company's stock valued at $243,000 after purchasing an additional 1,824 shares during the last quarter. 98.39% of the stock is currently owned by institutional investors and hedge funds.

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Rocket Pharmaceuticals Stock Performance

NASDAQ:RCKT traded down $0.42 during mid-day trading on Thursday, hitting $4.98. The company's stock had a trading volume of 1,890,069 shares, compared to its average volume of 1,962,234. The stock has a market cap of $530.59 million, a price-to-earnings ratio of -1.81 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. The business's fifty day moving average is $8.61 and its two-hundred day moving average is $12.27. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.05 and a quick ratio of 6.05.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last announced 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. Analysts anticipate that Rocket Pharmaceuticals, Inc. will post -2.83 EPS for the current fiscal year.

Wall Street Analyst Weigh In

RCKT has been the topic of a number of recent analyst reports. Wedbush began coverage on Rocket Pharmaceuticals in a research note on Monday, December 30th. They issued an "outperform" rating and a $32.00 price objective on the stock. The Goldman Sachs Group decreased their target price on Rocket Pharmaceuticals from $29.00 to $15.00 and set a "neutral" rating for the company in a research report on Monday, March 3rd. Scotiabank raised their target price on Rocket Pharmaceuticals from $51.00 to $52.00 and gave the stock a "sector outperform" rating in a research note 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 note on Wednesday. Finally, Canaccord Genuity Group reduced their price objective on Rocket Pharmaceuticals from $39.00 to $36.00 and set a "buy" rating on the stock in a research report on Monday, March 3rd. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Rocket Pharmaceuticals has an average rating of "Moderate Buy" and a consensus price target of $43.00.

Insider Buying and Selling at Rocket Pharmaceuticals

In related news, CFO Aaron Ondrey sold 7,489 shares of Rocket Pharmaceuticals stock in a transaction on Friday, April 4th. The shares were sold at an average price of $5.29, for a total transaction of $39,616.81. Following the sale, the chief financial officer now directly owns 129,650 shares in the company, valued at $685,848.50. This trade represents a 5.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 28.50% of the stock is owned by corporate insiders.

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.