Price T Rowe Associates Inc. MD Increases Stock Holdings in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Price T Rowe Associates Inc. MD increased its position in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 11.9% in the 1st quarter, Holdings Channel.com reports. The firm owned 2,943,160 shares of the biotechnology company’s stock after acquiring an additional 314,086 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Rocket Pharmaceuticals were worth $79,290,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of RCKT. Goldman Sachs Group Inc. increased its holdings in shares of Rocket Pharmaceuticals by 12.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 594,665 shares of the biotechnology company’s stock worth $17,822,000 after buying an additional 64,946 shares during the last quarter. Russell Investments Group Ltd. increased its stake in Rocket Pharmaceuticals by 4.1% during the first quarter. Russell Investments Group Ltd. now owns 675,769 shares of the biotechnology company’s stock worth $18,205,000 after acquiring an additional 26,823 shares during the last quarter. Franklin Resources Inc. raised its position in Rocket Pharmaceuticals by 60.8% in the fourth quarter. Franklin Resources Inc. now owns 1,072,910 shares of the biotechnology company’s stock valued at $32,155,000 after purchasing an additional 405,855 shares during the period. Avidity Partners Management LP lifted its stake in shares of Rocket Pharmaceuticals by 8.3% in the 4th quarter. Avidity Partners Management LP now owns 1,719,103 shares of the biotechnology company’s stock valued at $51,522,000 after purchasing an additional 131,674 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Rocket Pharmaceuticals during the 4th quarter worth $332,000. 98.39% of the stock is owned by hedge funds and other institutional investors.

Rocket Pharmaceuticals Stock Performance

NASDAQ:RCKT opened at $24.68 on Tuesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 10.47 and a current ratio of 10.47. Rocket Pharmaceuticals, Inc. has a 52 week low of $14.89 and a 52 week high of $32.53. The company has a fifty day simple moving average of $22.21 and a two-hundred day simple moving average of $24.99.

Rocket Pharmaceuticals (NASDAQ:RCKT) last released its earnings results on Monday, May 6th. The biotechnology company reported ($0.66) EPS for the quarter, topping the consensus estimate of ($0.67) by $0.01. During the same period last year, the firm earned ($0.73) EPS. Sell-side analysts predict that Rocket Pharmaceuticals, Inc. will post -2.96 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. William Blair restated an “outperform” rating on shares of Rocket Pharmaceuticals in a report on Monday, June 3rd. Canaccord Genuity Group reduced their price target on shares of Rocket Pharmaceuticals from $49.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. Needham & Company LLC lowered their price objective on shares of Rocket Pharmaceuticals from $53.00 to $52.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Chardan Capital reissued a “buy” rating and issued a $62.00 target price on shares of Rocket Pharmaceuticals in a research report on Friday, June 28th. Finally, The Goldman Sachs Group started coverage on Rocket Pharmaceuticals in a research note on Tuesday, April 2nd. They set a “neutral” rating and a $39.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Rocket Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.25.

Insider Transactions at Rocket Pharmaceuticals

In related news, CEO Gaurav Shah sold 9,790 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $23.35, for a total value of $228,596.50. Following the sale, the chief executive officer now owns 728,069 shares of the company’s stock, valued at $17,000,411.15. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Gaurav Shah sold 9,790 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $23.35, for a total value of $228,596.50. Following the transaction, the chief executive officer now owns 728,069 shares of the company’s stock, valued at $17,000,411.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark Andrew White sold 3,026 shares of the firm’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $20.39, for a total value of $61,700.14. Following the completion of the sale, the insider now owns 72,220 shares in the company, valued at $1,472,565.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,755 shares of company stock valued at $358,654. 31.10% of the stock is currently owned by corporate insiders.

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.