Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Shares Acquired by Synovus Financial Corp

Synovus Financial Corp boosted its holdings in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) by 71.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 163,893 shares of the biotechnology company's stock after acquiring an additional 68,389 shares during the period. Synovus Financial Corp owned 0.18% of Rocket Pharmaceuticals worth $2,060,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the company. SG Americas Securities LLC lifted its stake in Rocket Pharmaceuticals by 796.2% in the fourth quarter. SG Americas Securities LLC now owns 54,921 shares of the biotechnology company's stock valued at $690,000 after buying an additional 48,793 shares in the last quarter. Jennison Associates LLC grew its position in shares of Rocket Pharmaceuticals by 72.6% in the 4th quarter. Jennison Associates LLC now owns 70,304 shares of the biotechnology company's stock valued at $884,000 after acquiring an additional 29,564 shares during the period. Mirador Capital Partners LP increased its holdings 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 acquiring an additional 67,755 shares during the last quarter. Sovran Advisors LLC acquired a new stake in Rocket Pharmaceuticals during the fourth quarter worth approximately $1,895,000. Finally, Strategic Financial Concepts LLC acquired a new position in shares of Rocket Pharmaceuticals in the fourth quarter valued at about $141,000. 98.39% of the stock is currently owned by institutional investors and hedge funds.

Rocket Pharmaceuticals Stock Performance

Shares of NASDAQ RCKT traded up $1.02 during midday trading on Monday, hitting $7.35. 833,450 shares of the company's stock traded hands, compared to its average volume of 1,280,384. Rocket Pharmaceuticals, Inc. has a 1 year low of $4.55 and a 1 year high of $26.98. The firm has a fifty day moving average of $7.96 and a 200 day moving average of $11.66. 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 stock has a market capitalization of $783.41 million, a price-to-earnings ratio of -2.69 and a beta of 1.00.

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, topping the consensus estimate of ($0.68) by $0.06. On average, analysts forecast that Rocket Pharmaceuticals, Inc. will post -2.83 earnings per share for the current year.

Insider Transactions at Rocket Pharmaceuticals

In related news, CEO Gaurav Shah purchased 20,000 shares of the business's stock in a transaction on Thursday, April 10th. The shares were bought at an average price of $5.08 per share, for a total transaction of $101,600.00. Following the acquisition, the chief executive officer now directly owns 792,680 shares in the company, valued at $4,026,814.40. This trade represents a 2.59 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Kinnari Patel bought 21,099 shares of the stock in a transaction dated Wednesday, April 9th. The stock was bought at an average price of $4.70 per share, with a total value of $99,165.30. Following the acquisition, the insider now owns 26,774 shares in the company, valued at approximately $125,837.80. This represents a 371.79 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 28.50% of the company's stock.

Wall Street Analyst Weigh In

RCKT has been the subject of several research analyst reports. Canaccord Genuity Group lowered their price objective on shares of Rocket Pharmaceuticals from $39.00 to $36.00 and set a "buy" rating for the company in a research report on Monday, March 3rd. Scotiabank lifted their price objective 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. 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 for the company. Wedbush initiated coverage on shares of Rocket Pharmaceuticals in a report on Monday, December 30th. They issued an "outperform" rating and a $32.00 target price for the company. Finally, Chardan Capital cut their price target on shares of Rocket Pharmaceuticals from $62.00 to $54.00 and set a "buy" rating on the stock in a report on Friday, February 28th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $43.00.

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.