Boxer Capital Management LLC Makes New Investment in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Boxer Capital Management LLC purchased a new stake in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,466,051 shares of the biotechnology company’s stock, valued at approximately $18,428,000. Rocket Pharmaceuticals makes up 1.6% of Boxer Capital Management LLC’s investment portfolio, making the stock its 20th largest holding. Boxer Capital Management LLC owned approximately 1.61% of Rocket Pharmaceuticals as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the stock. Northern Trust Corp boosted its stake in Rocket Pharmaceuticals by 14.2% during the fourth quarter. Northern Trust Corp now owns 663,152 shares of the biotechnology company’s stock worth $8,336,000 after buying an additional 82,316 shares during the last quarter. Tudor Investment Corp ET AL raised its holdings in shares of Rocket Pharmaceuticals by 85.4% during the 4th quarter. Tudor Investment Corp ET AL now owns 31,125 shares of the biotechnology company’s stock worth $391,000 after acquiring an additional 14,338 shares during the period. Boothbay Fund Management LLC boosted its position in shares of Rocket Pharmaceuticals by 20.6% during the 4th quarter. Boothbay Fund Management LLC now owns 52,130 shares of the biotechnology company’s stock valued at $655,000 after acquiring an additional 8,894 shares during the last quarter. Virtus ETF Advisers LLC grew its holdings in shares of Rocket Pharmaceuticals by 40.4% in the fourth quarter. Virtus ETF Advisers LLC now owns 5,656 shares of the biotechnology company’s stock valued at $71,000 after purchasing an additional 1,628 shares during the period. Finally, Avoro Capital Advisors LLC acquired a new stake in Rocket Pharmaceuticals during the fourth quarter worth about $15,084,000. 98.39% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Rocket Pharmaceuticals news, insider Kinnari Patel bought 21,099 shares of the firm’s stock in a transaction that occurred on Wednesday, April 9th. The stock was purchased at an average price of $4.70 per share, for a total transaction of $99,165.30. Following the completion of the purchase, 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 ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gaurav Shah purchased 20,000 shares of the company’s stock in a transaction on Thursday, April 10th. The stock was bought at an average price 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. 28.50% of the stock is currently owned by company insiders.

Rocket Pharmaceuticals Trading Up 3.0 %

NASDAQ:RCKT opened at $7.86 on Friday. The stock has a fifty day moving average price of $7.40 and a 200 day moving average price of $11.14. The company has a current ratio of 6.05, a quick ratio of 6.05 and a debt-to-equity ratio of 0.06. Rocket Pharmaceuticals, Inc. has a 12-month low of $4.55 and a 12-month high of $26.98. The firm has a market cap of $838.11 million, a PE ratio of -2.86 and a beta of 1.00.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its quarterly earnings data on Monday, March 3rd. The biotechnology company reported ($0.62) EPS for the quarter, topping analysts’ consensus estimates 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.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RCKT. Needham & Company LLC reissued a “buy” rating and issued a $42.00 price target on shares of Rocket Pharmaceuticals in a research note on Wednesday, April 9th. Canaccord Genuity Group cut their target price on Rocket Pharmaceuticals from $39.00 to $36.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. The Goldman Sachs Group decreased their price target on Rocket Pharmaceuticals from $29.00 to $15.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. Chardan Capital cut their price objective on Rocket Pharmaceuticals from $62.00 to $54.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Finally, BMO Capital Markets began coverage on shares of Rocket Pharmaceuticals in a research report on Wednesday, March 12th. They set an “outperform” rating and a $50.00 price target for the company. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Rocket Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price 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.