Vanguard Group Inc. Buys 1,040,655 Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Vanguard Group Inc. increased its holdings in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) by 18.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,577,595 shares of the biotechnology company's stock after buying an additional 1,040,655 shares during the period. Vanguard Group Inc. owned 7.22% of Rocket Pharmaceuticals worth $82,680,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Rhumbline Advisers boosted its holdings in shares of Rocket Pharmaceuticals by 1.3% in the fourth quarter. Rhumbline Advisers now owns 99,339 shares of the biotechnology company's stock worth $1,249,000 after acquiring an additional 1,242 shares during the period. Arizona State Retirement System increased its position in shares of Rocket Pharmaceuticals by 8.4% during the fourth quarter. Arizona State Retirement System now owns 19,826 shares of the biotechnology company's stock valued at $249,000 after buying an additional 1,528 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of 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 worth $2,210,000 after buying an additional 1,561 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of 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 worth $243,000 after buying an additional 1,824 shares in the last quarter. Finally, Harbour Investments Inc. grew its stake in Rocket Pharmaceuticals by 51.9% during the fourth quarter. Harbour Investments Inc. now owns 5,385 shares of the biotechnology company's stock valued at $68,000 after acquiring an additional 1,840 shares in the last quarter. 98.39% of the stock is currently owned by hedge funds and other institutional investors.

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Insiders Place Their Bets

In other news, CFO Aaron Ondrey sold 7,489 shares of the stock in a transaction dated Friday, April 4th. The shares were 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 directly owns 129,650 shares in the company, valued at approximately $685,848.50. This represents a 5.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Gaurav Shah bought 20,000 shares of the business's stock in a transaction that occurred on Thursday, April 10th. The stock was acquired at an average cost of $5.08 per share, for a total transaction of $101,600.00. Following the completion of the purchase, the chief executive officer now directly owns 792,680 shares of the company's stock, valued at $4,026,814.40. The trade was a 2.59 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 28.50% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on RCKT shares. Jefferies Financial Group initiated 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 for the company. Chardan Capital lowered their price target on Rocket Pharmaceuticals from $62.00 to $54.00 and set a "buy" rating on the stock in a report on Friday, February 28th. Scotiabank boosted their price objective on Rocket Pharmaceuticals from $51.00 to $52.00 and gave the stock a "sector outperform" rating in a report on Monday, March 3rd. Wedbush assumed coverage on shares of Rocket Pharmaceuticals in a research note on Monday, December 30th. They issued an "outperform" rating and a $32.00 target price on the stock. Finally, Canaccord Genuity Group cut their price target on shares of Rocket Pharmaceuticals from $39.00 to $36.00 and set a "buy" rating for the company in a research note on Monday, March 3rd. One equities 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, the company has an average rating of "Moderate Buy" and an average price target of $43.00.

Rocket Pharmaceuticals Trading Up 10.2 %

NASDAQ:RCKT traded up $0.61 during trading hours on Tuesday, reaching $6.52. The company's stock had a trading volume of 1,476,479 shares, compared to its average volume of 1,244,337. The firm has a 50-day simple moving average of $8.27 and a 200-day simple moving average of $11.96. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.05 and a current ratio of 6.05. Rocket Pharmaceuticals, Inc. has a 1 year low of $4.55 and a 1 year high of $26.98. The firm has a market capitalization of $694.69 million, a price-to-earnings ratio of -2.35 and a beta of 1.00.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last released its earnings results 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. Research analysts expect that Rocket Pharmaceuticals, Inc. will post -2.83 EPS 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.