Soleus Capital Management L.P. Buys Shares of 271,659 Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Soleus Capital Management L.P. purchased a new position in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 271,659 shares of the biotechnology company's stock, valued at approximately $3,415,000. Soleus Capital Management L.P. owned 0.30% of Rocket Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Covestor Ltd boosted its stake in shares of Rocket Pharmaceuticals by 33,166.7% in the fourth quarter. Covestor Ltd now owns 1,996 shares of the biotechnology company's stock worth $25,000 after buying an additional 1,990 shares during the last quarter. Signaturefd LLC lifted its holdings in Rocket Pharmaceuticals by 319.8% in the fourth quarter. Signaturefd LLC now owns 4,916 shares of the biotechnology company's stock valued at $62,000 after acquiring an additional 3,745 shares during the period. Harbour Investments Inc. increased its holdings in shares of 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 in the last quarter. KBC Group NV increased its holdings in shares of Rocket Pharmaceuticals by 159.6% during 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 in the last quarter. Finally, Virtus ETF Advisers LLC lifted its stake in shares of Rocket Pharmaceuticals by 40.4% in the 4th 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 during the period. Hedge funds and other institutional investors own 98.39% of the company's stock.

Rocket Pharmaceuticals Price Performance

RCKT stock traded down $0.03 during trading on Thursday, hitting $6.56. The stock had a trading volume of 2,200,098 shares, compared to its average volume of 1,508,401. Rocket Pharmaceuticals, Inc. has a twelve month low of $4.55 and a twelve month high of $26.98. The company's 50-day moving average price is $6.81 and its two-hundred day moving average price is $10.11. 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 capitalization of $700.52 million, a P/E ratio of -2.39 and a beta of 1.02.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last issued its quarterly earnings results on Tuesday, May 13th. The biotechnology company reported ($0.56) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.58) by $0.02. During the same period last year, the business earned ($0.66) earnings per share. As a group, research analysts predict that Rocket Pharmaceuticals, Inc. will post -2.83 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on RCKT. The Goldman Sachs Group cut their price objective on shares of Rocket Pharmaceuticals from $15.00 to $13.00 and set a "neutral" rating for the company in a report on Friday, May 9th. JPMorgan Chase & Co. cut their price target on Rocket Pharmaceuticals from $45.00 to $44.00 and set an "overweight" rating for the company in a research note on Friday, May 9th. Cantor Fitzgerald upped their price target on Rocket Pharmaceuticals from $20.00 to $30.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. BMO Capital Markets began coverage on Rocket Pharmaceuticals in a report on Wednesday, March 12th. They issued an "outperform" rating and a $50.00 price objective on the stock. Finally, Canaccord Genuity Group cut their price objective on Rocket Pharmaceuticals from $36.00 to $34.00 and set a "buy" rating for the company in a research report on Monday, May 12th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $37.73.

Insider Buying and Selling at Rocket Pharmaceuticals

In other Rocket Pharmaceuticals news, CEO Gaurav Shah bought 20,000 shares of Rocket Pharmaceuticals stock in a transaction dated Thursday, April 10th. The stock was acquired at an average cost of $5.08 per share, for a total transaction of $101,600.00. Following the completion of the transaction, the chief executive officer now directly owns 792,680 shares of the company's stock, valued at approximately $4,026,814.40. This represents a 2.59% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Kinnari Patel purchased 21,099 shares of the firm's stock in a transaction dated Wednesday, April 9th. The stock was acquired at an average cost of $4.70 per share, for a total transaction of $99,165.30. Following the completion of the purchase, the insider now owns 26,774 shares of the company's stock, valued at approximately $125,837.80. This represents a 371.79% increase in their position. The disclosure for this purchase can be found here. 24.76% of the stock is currently owned by insiders.

Rocket Pharmaceuticals 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.