Cornerstone Select Advisors LLC Purchases New Position in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Cornerstone Select Advisors LLC bought a new position in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 19,045 shares of the biotechnology company’s stock, valued at approximately $239,000.

Several other hedge funds also recently bought and sold shares of RCKT. Covestor Ltd grew its holdings in shares of Rocket Pharmaceuticals by 33,166.7% during the fourth quarter. Covestor Ltd now owns 1,996 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 1,990 shares in the last quarter. Signaturefd LLC grew its stake in Rocket Pharmaceuticals by 319.8% in the 4th quarter. Signaturefd LLC now owns 4,916 shares of the biotechnology company’s stock worth $62,000 after buying an additional 3,745 shares in the last quarter. Harbour Investments Inc. increased its holdings in shares of Rocket Pharmaceuticals by 51.9% in the 4th quarter. Harbour Investments Inc. now owns 5,385 shares of the biotechnology company’s stock worth $68,000 after buying an additional 1,840 shares during the last quarter. KBC Group NV raised its position in shares of Rocket Pharmaceuticals by 159.6% during the 4th quarter. KBC Group NV now owns 5,475 shares of the biotechnology company’s stock valued at $69,000 after buying an additional 3,366 shares in the last quarter. Finally, Virtus ETF Advisers LLC lifted its holdings in shares of Rocket Pharmaceuticals by 40.4% during the 4th quarter. Virtus ETF Advisers LLC now owns 5,656 shares of the biotechnology company’s stock worth $71,000 after acquiring an additional 1,628 shares during the last quarter. Hedge funds and other institutional investors own 98.39% of the company’s stock.

Insider Buying and Selling at Rocket Pharmaceuticals

In other Rocket Pharmaceuticals news, CEO Gaurav Shah bought 20,000 shares of the stock in a transaction dated Thursday, April 10th. The stock was purchased at an average cost of $5.08 per share, for a total transaction of $101,600.00. Following the completion of the acquisition, the chief executive officer now owns 792,680 shares of the company’s stock, valued at approximately $4,026,814.40. This trade represents a 2.59 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Kinnari Patel purchased 21,099 shares of the business’s stock in a transaction that occurred on Wednesday, April 9th. The stock was bought at an average price of $4.70 per share, for a total transaction of $99,165.30. Following the purchase, the insider now directly owns 26,774 shares in the company, valued at $125,837.80. The trade was a 371.79 % 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.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RCKT. Scotiabank raised their price target on Rocket Pharmaceuticals from $51.00 to $52.00 and gave the company a “sector outperform” rating in a research report on Monday, March 3rd. BMO Capital Markets assumed coverage on Rocket Pharmaceuticals in a report on Wednesday, March 12th. They set an “outperform” rating and a $50.00 price objective on the stock. The Goldman Sachs Group cut their target price on Rocket Pharmaceuticals from $29.00 to $15.00 and set a “neutral” rating for the company in a research note on Monday, March 3rd. Needham & Company LLC restated a “buy” rating and issued a $42.00 price objective on shares of Rocket Pharmaceuticals in a report on Wednesday, April 9th. Finally, Canaccord Genuity Group reduced their target price on shares of Rocket Pharmaceuticals from $39.00 to $36.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Rocket Pharmaceuticals Trading Down 19.6 %

NASDAQ:RCKT opened at $6.31 on Wednesday. Rocket Pharmaceuticals, Inc. has a 12 month low of $4.55 and a 12 month high of $26.98. The stock has a market cap of $673.82 million, a price-to-earnings ratio of -2.29 and a beta of 1.02. The company has a 50-day moving average price of $7.27 and a 200-day moving average price of $10.87. 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 (NASDAQ:RCKT) last posted its earnings results on Monday, March 3rd. The biotechnology company reported ($0.62) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.06. Equities analysts predict that Rocket Pharmaceuticals, Inc. will post -2.83 EPS for the current year.

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.