Jump Financial LLC Makes New $1.69 Million Investment in Rocket Pharmaceuticals, Inc. $RCKT

Key Points

• Jump Financial LLC invested approximately $1.69 million in Rocket Pharmaceuticals by purchasing 253,723 shares, representing around 0.24% of the company's total stock ownership.
• Insider Jonathan David Schwartz sold 11,161 shares of Rocket Pharmaceuticals, resulting in a 4.74% decrease in their ownership, while another director purchased 10,000 shares, increasing their ownership by 33.33%.
• Rocket Pharmaceuticals' stock has seen a 2.1% decline, with a current trading price of $3.32 and a significant drop in analyst price targets from a high of $51.00 to a low of $8.00.

Jump Financial LLC acquired a new stake in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 253,723 shares of the biotechnology company's stock, valued at approximately $1,692,000. Jump Financial LLC owned about 0.24% of Rocket Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of RCKT. California State Teachers Retirement System raised its position in shares of Rocket Pharmaceuticals by 5.5% during the fourth quarter. California State Teachers Retirement System now owns 63,637 shares of the biotechnology company's stock worth $800,000 after purchasing an additional 3,344 shares during the period. Two Sigma Investments LP increased its stake in Rocket Pharmaceuticals by 88.6% in the 4th quarter. Two Sigma Investments LP now owns 41,142 shares of the biotechnology company's stock worth $517,000 after purchasing an additional 19,326 shares in the last quarter. Rhumbline Advisers raised its holdings in Rocket Pharmaceuticals by 8.4% during the 1st quarter. Rhumbline Advisers now owns 107,638 shares of the biotechnology company's stock worth $718,000 after buying an additional 8,299 shares during the period. Raymond James Financial Inc. acquired a new stake in Rocket Pharmaceuticals during the 4th quarter worth about $285,000. Finally, Northern Trust Corp lifted its stake in Rocket Pharmaceuticals by 14.2% during the fourth quarter. Northern Trust Corp now owns 663,152 shares of the biotechnology company's stock valued at $8,336,000 after buying an additional 82,316 shares in the last quarter. 98.39% of the stock is owned by institutional investors.

Rocket Pharmaceuticals Stock Down 1.2%

Shares of NASDAQ:RCKT traded down $0.04 during trading on Tuesday, reaching $3.24. 1,708,929 shares of the company traded hands, compared to its average volume of 5,877,142. The firm has a fifty day simple moving average of $3.07 and a 200 day simple moving average of $5.28. The company has a quick ratio of 6.39, a current ratio of 6.39 and a debt-to-equity ratio of 0.05. Rocket Pharmaceuticals, Inc. has a 1-year low of $2.19 and a 1-year high of $22.01. The firm has a market cap of $349.60 million, a P/E ratio of -1.29 and a beta of 0.62.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The biotechnology company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.02). During the same period last year, the firm posted ($0.74) earnings per share. Analysts anticipate that Rocket Pharmaceuticals, Inc. will post -2.83 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on RCKT shares. TD Cowen reissued a "hold" rating on shares of Rocket Pharmaceuticals in a research report on Tuesday, May 27th. Canaccord Genuity Group decreased their price objective on shares of Rocket Pharmaceuticals from $11.00 to $10.00 and set a "buy" rating for the company in a research note on Friday, July 25th. JPMorgan Chase & Co. reiterated a "neutral" rating on shares of Rocket Pharmaceuticals in a research report on Wednesday, May 28th. Leerink Partners restated a "market perform" rating and issued a $8.00 target price (down previously from $37.00) on shares of Rocket Pharmaceuticals in a report on Wednesday, May 28th. Finally, Chardan Capital reaffirmed a "buy" rating and issued a $11.00 target price on shares of Rocket Pharmaceuticals in a research report on Wednesday, August 20th. Eight research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Rocket Pharmaceuticals currently has a consensus rating of "Hold" and an average price target of $16.73.

Insiders Place Their Bets

In other news, insider Jonathan David Schwartz sold 11,161 shares of the firm's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $3.02, for a total transaction of $33,706.22. Following the completion of the sale, the insider directly owned 224,094 shares of the company's stock, valued at $676,763.88. This trade represents a 4.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Martin Wilson sold 12,109 shares of Rocket Pharmaceuticals stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $3.02, for a total value of $36,569.18. Following the sale, the general counsel owned 137,054 shares of the company's stock, valued at approximately $413,903.08. This represents a 8.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,927 shares of company stock valued at $111,413 in the last three months. Insiders own 24.76% of the company's stock.

About Rocket Pharmaceuticals

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.