Boxer Capital Management LLC Buys Shares of 1,466,051 Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Boxer Capital Management LLC purchased a new stake in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,466,051 shares of the biotechnology company's stock, valued at approximately $18,428,000. Rocket Pharmaceuticals makes up approximately 1.6% of Boxer Capital Management LLC's investment portfolio, making the stock its 20th biggest position. Boxer Capital Management LLC owned about 1.61% of Rocket Pharmaceuticals as of its most recent filing with the Securities & Exchange Commission.

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

Insider Buying and Selling at Rocket Pharmaceuticals

In other news, CEO Gaurav Shah acquired 20,000 shares of the firm's stock in a transaction on Thursday, April 10th. The stock was acquired at an average price of $5.08 per share, with a total value of $101,600.00. Following the completion of the purchase, the chief executive officer now directly owns 792,680 shares in the company, 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 Securities & Exchange Commission, which is available at the SEC website. Also, insider Kinnari Patel bought 21,099 shares of the business's stock in a transaction dated Wednesday, April 9th. The shares were acquired at an average cost of $4.70 per share, for a total transaction of $99,165.30. Following the purchase, the insider now owns 26,774 shares of the company's stock, 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 owned by company insiders.

Rocket Pharmaceuticals Price Performance

NASDAQ:RCKT traded up $0.33 on Wednesday, reaching $6.64. 1,782,932 shares of the company's stock traded hands, compared to its average volume of 1,382,898. The stock has a 50-day simple moving average of $7.27 and a 200-day simple moving average of $10.87. Rocket Pharmaceuticals, Inc. has a 12 month low of $4.55 and a 12 month high of $26.98. The firm has a market cap of $708.53 million, a PE ratio of -2.41 and a beta of 1.02. 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 (NASDAQ:RCKT - Get Free Report) last posted its quarterly earnings results on Monday, March 3rd. The biotechnology company reported ($0.62) earnings per share for the quarter, topping the consensus estimate of ($0.68) by $0.06. Equities research analysts forecast that Rocket Pharmaceuticals, Inc. will post -2.83 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on RCKT. Chardan Capital decreased their target price on Rocket Pharmaceuticals from $62.00 to $54.00 and set a "buy" rating for the company in a research report on Friday, February 28th. The Goldman Sachs Group lowered their price objective 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. Canaccord Genuity Group cut their target price on shares of Rocket Pharmaceuticals from $39.00 to $36.00 and set a "buy" rating for the company in a research report on Monday, March 3rd. Scotiabank boosted their target price 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. Finally, BMO Capital Markets initiated coverage on Rocket Pharmaceuticals in a report on Wednesday, March 12th. They issued an "outperform" rating and a $50.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Rocket Pharmaceuticals has an average rating of "Moderate Buy" and a consensus target price 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.