E Fund Management Co. Ltd. Invests $139,000 in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

E Fund Management Co. Ltd. acquired a new position in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 11,054 shares of the biotechnology company’s stock, valued at approximately $139,000.

Several other institutional investors have also added to or reduced their stakes in the stock. KBC Group NV raised its stake in shares of Rocket Pharmaceuticals by 159.6% in the 4th quarter. KBC Group NV now owns 5,475 shares of the biotechnology company’s stock valued at $69,000 after purchasing an additional 3,366 shares during the period. Strategic Financial Concepts LLC bought a new position in shares of Rocket Pharmaceuticals during the fourth quarter worth about $141,000. Private Advisor Group LLC acquired a new stake in Rocket Pharmaceuticals in the 4th quarter valued at approximately $166,000. Dana Investment Advisors Inc. lifted its stake in Rocket Pharmaceuticals by 17.5% in the 4th quarter. Dana Investment Advisors Inc. now owns 17,608 shares of the biotechnology company’s stock valued at $221,000 after acquiring an additional 2,627 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its position in Rocket Pharmaceuticals by 10.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 19,329 shares of the biotechnology company’s stock worth $243,000 after acquiring an additional 1,824 shares during the last quarter. 98.39% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on RCKT shares. Jefferies Financial Group started coverage on shares of Rocket Pharmaceuticals in a report on Wednesday, December 18th. They issued a “buy” rating and a $29.00 price objective on the stock. Scotiabank lifted their price target on shares of Rocket Pharmaceuticals from $51.00 to $52.00 and gave the company a “sector outperform” rating in a research note on Monday, March 3rd. The Goldman Sachs Group cut their price target on shares of Rocket Pharmaceuticals from $29.00 to $15.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. Needham & Company LLC decreased their price objective on Rocket Pharmaceuticals from $52.00 to $42.00 and set a “buy” rating for the company in a report on Friday, February 28th. Finally, Chardan Capital dropped their target price on Rocket Pharmaceuticals from $62.00 to $54.00 and set a “buy” rating on the stock in a report on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Rocket Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $42.30.

Rocket Pharmaceuticals Stock Performance

RCKT opened at $8.77 on Monday. The company has a quick ratio of 6.05, a current ratio of 6.05 and a debt-to-equity ratio of 0.06. Rocket Pharmaceuticals, Inc. has a 12-month low of $8.25 and a 12-month high of $28.73. The business has a 50 day moving average of $10.61 and a 200-day moving average of $14.30. The stock has a market cap of $935.15 million, a price-to-earnings ratio of -3.19 and a beta of 1.03.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its quarterly earnings results on Monday, March 3rd. The biotechnology company reported ($0.62) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.68) by $0.06. On average, equities research analysts expect that Rocket Pharmaceuticals, Inc. will post -2.83 earnings per share for the current year.

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.