ADAR1 Capital Management LLC Acquires 207,100 Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

ADAR1 Capital Management LLC increased its position in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 4,816.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 211,400 shares of the biotechnology company’s stock after purchasing an additional 207,100 shares during the quarter. ADAR1 Capital Management LLC owned approximately 0.23% of Rocket Pharmaceuticals worth $2,657,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of RCKT. Wellington Management Group LLP raised its holdings in shares of Rocket Pharmaceuticals by 24.5% in the 4th quarter. Wellington Management Group LLP now owns 13,995,177 shares of the biotechnology company’s stock worth $175,919,000 after buying an additional 2,753,033 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Rocket Pharmaceuticals by 18.8% during the fourth quarter. Vanguard Group Inc. now owns 6,577,595 shares of the biotechnology company’s stock valued at $82,680,000 after purchasing an additional 1,040,655 shares during the last quarter. State Street Corp lifted its stake in shares of Rocket Pharmaceuticals by 11.6% during the third quarter. State Street Corp now owns 3,102,022 shares of the biotechnology company’s stock valued at $57,294,000 after acquiring an additional 322,156 shares during the period. Geode Capital Management LLC lifted its position in Rocket Pharmaceuticals by 8.4% during the 4th quarter. Geode Capital Management LLC now owns 1,752,975 shares of the biotechnology company’s stock valued at $22,041,000 after purchasing an additional 135,109 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Rocket Pharmaceuticals by 15.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 656,090 shares of the biotechnology company’s stock worth $8,247,000 after buying an additional 86,276 shares during the period. Institutional investors own 98.39% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on RCKT shares. BMO Capital Markets initiated coverage on Rocket Pharmaceuticals in a research report on Wednesday, March 12th. They issued an “outperform” rating and a $50.00 price target on the stock. Wedbush began coverage on Rocket Pharmaceuticals in a research note on Monday, December 30th. They set an “outperform” rating and a $32.00 price objective on the stock. Canaccord Genuity Group decreased their price objective on Rocket Pharmaceuticals from $39.00 to $36.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Jefferies Financial Group began coverage on shares of Rocket Pharmaceuticals in a report on Wednesday, December 18th. They issued a “buy” rating and a $29.00 price target for the company. Finally, Chardan Capital reduced their target price on shares of Rocket Pharmaceuticals from $62.00 to $54.00 and set a “buy” rating for the company in a research note on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Rocket Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $43.00.

Rocket Pharmaceuticals Stock Performance

Shares of NASDAQ RCKT opened at $5.12 on Monday. Rocket Pharmaceuticals, Inc. has a one year low of $4.87 and a one year high of $26.98. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.05 and a quick ratio of 6.05. The firm has a market cap of $545.95 million, a price-to-earnings ratio of -1.86 and a beta of 1.00. The stock’s fifty day moving average price is $9.16 and its two-hundred day moving average price is $12.70.

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