1,200,000 Shares in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Purchased by Avoro Capital Advisors LLC

Avoro Capital Advisors LLC bought a new position in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,200,000 shares of the biotechnology company's stock, valued at approximately $15,084,000. Avoro Capital Advisors LLC owned about 1.32% of Rocket Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Covestor Ltd boosted 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 during the last quarter. Signaturefd LLC lifted its position in Rocket Pharmaceuticals by 319.8% during the fourth quarter. Signaturefd LLC now owns 4,916 shares of the biotechnology company's stock worth $62,000 after buying an additional 3,745 shares during the period. Harbour Investments Inc. boosted its stake in 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 grew its holdings in 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 buying an additional 3,366 shares during the period. Finally, E Fund Management Co. Ltd. purchased a new stake in Rocket Pharmaceuticals in the 4th quarter valued at about $139,000. 98.39% of the stock is owned by hedge funds and other institutional investors.

Rocket Pharmaceuticals Stock Down 2.7 %

RCKT traded down $0.20 on Friday, reaching $7.23. The company's stock had a trading volume of 1,634,069 shares, compared to its average volume of 1,326,622. Rocket Pharmaceuticals, Inc. has a 1 year low of $4.55 and a 1 year high of $26.98. The business's 50 day moving average is $7.64 and its 200 day moving average is $11.40. 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 stock has a market cap of $770.93 million, a price-to-earnings ratio of -2.63 and a beta of 1.00.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last released its earnings results on Monday, March 3rd. The biotechnology company reported ($0.62) EPS for the quarter, beating the consensus estimate of ($0.68) by $0.06. As a group, research analysts forecast that Rocket Pharmaceuticals, Inc. will post -2.83 EPS for the current fiscal year.

Insider Buying and Selling at Rocket Pharmaceuticals

In other news, CFO Aaron Ondrey sold 7,489 shares of Rocket Pharmaceuticals stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $5.29, for a total value of $39,616.81. Following the completion of the transaction, the chief financial officer now owns 129,650 shares in the company, valued at approximately $685,848.50. This trade represents a 5.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kinnari Patel purchased 21,099 shares of the stock in a transaction dated Wednesday, April 9th. The stock was purchased at an average price of $4.70 per share, with a total value of $99,165.30. Following the completion of the acquisition, the insider now directly owns 26,774 shares in the company, valued at approximately $125,837.80. The trade was a 371.79 % increase in their position. The disclosure for this purchase can be found here. 28.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on RCKT. Scotiabank boosted their price objective 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. Chardan Capital cut their price objective on Rocket Pharmaceuticals from $62.00 to $54.00 and set a "buy" rating on the stock in a report on Friday, February 28th. Canaccord Genuity Group decreased their target price on Rocket Pharmaceuticals from $39.00 to $36.00 and set a "buy" rating for the company in a report 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 report on Monday, March 3rd. Finally, Wedbush assumed coverage on shares of Rocket Pharmaceuticals in a research report on Monday, December 30th. They set an "outperform" rating and a $32.00 price target on the stock. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, Rocket Pharmaceuticals presently has an average rating of "Moderate Buy" and an average price target 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.