JPMorgan Chase & Co. Buys 258,647 Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

JPMorgan Chase & Co. grew its stake in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 118.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 477,617 shares of the biotechnology company’s stock after acquiring an additional 258,647 shares during the period. JPMorgan Chase & Co.’s holdings in Rocket Pharmaceuticals were worth $26,192,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its position in Rocket Pharmaceuticals by 47.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,479,321 shares of the biotechnology company’s stock worth $190,806,000 after acquiring an additional 1,120,055 shares during the period. BlackRock Inc. increased its position in Rocket Pharmaceuticals by 3.3% during the fourth quarter. BlackRock Inc. now owns 2,968,720 shares of the biotechnology company’s stock worth $162,802,000 after acquiring an additional 93,525 shares during the period. Janus Henderson Group PLC increased its position in Rocket Pharmaceuticals by 1,532.0% during the fourth quarter. Janus Henderson Group PLC now owns 1,277,310 shares of the biotechnology company’s stock worth $70,043,000 after acquiring an additional 1,199,043 shares during the period. Ghost Tree Capital LLC increased its position in Rocket Pharmaceuticals by 25.0% during the fourth quarter. Ghost Tree Capital LLC now owns 500,000 shares of the biotechnology company’s stock worth $27,420,000 after acquiring an additional 100,000 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Rocket Pharmaceuticals by 11.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 260,536 shares of the biotechnology company’s stock worth $14,288,000 after acquiring an additional 26,081 shares during the period.

A number of research firms recently commented on RCKT. Piper Sandler raised their price target on shares of Rocket Pharmaceuticals from $60.00 to $80.00 in a research report on Monday, January 4th. Needham & Company LLC began coverage on shares of Rocket Pharmaceuticals in a research report on Thursday, February 25th. They set a “buy” rating and a $75.00 price target on the stock. SVB Leerink raised their price target on shares of Rocket Pharmaceuticals from $61.00 to $66.00 and gave the stock an “outperform” rating in a research report on Thursday, April 1st. Zacks Investment Research lowered shares of Rocket Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 3rd. Finally, Stifel Nicolaus initiated coverage on shares of Rocket Pharmaceuticals in a report on Monday, March 8th. They issued a “buy” rating and a $64.00 target price on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have assigned a buy rating to the stock. Rocket Pharmaceuticals presently has an average rating of “Buy” and an average target price of $56.50.

RCKT stock opened at $39.41 on Friday. The firm has a market cap of $2.43 billion, a P/E ratio of -21.65 and a beta of 2.05. The company has a quick ratio of 7.30, a current ratio of 7.30 and a debt-to-equity ratio of 0.25. The company’s 50-day moving average price is $51.38 and its two-hundred day moving average price is $44.48. Rocket Pharmaceuticals, Inc. has a 12 month low of $13.69 and a 12 month high of $67.48.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its quarterly earnings results on Thursday, February 25th. The biotechnology company reported ($1.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.52) by ($0.56). Equities analysts predict that Rocket Pharmaceuticals, Inc. will post -1.93 EPS for the current year.

Rocket Pharmaceuticals Company Profile

Rocket Pharmaceuticals, Inc, together with its subsidiaries, operates as a multi-platform biotechnology company that focuses on developing gene therapies for rare and devastating pediatric diseases. It has four 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; pyruvate kinase deficiency, a rare red blood cell autosomal recessive disorder that results in chronic non-spherocytic hemolytic anemia; and infantile malignant osteopetrosis, a genetic disorder characterized by increased bone density and bone mass secondary to impaired bone resorption.

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Institutional Ownership by Quarter for Rocket Pharmaceuticals (NASDAQ:RCKT)

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