253,723 Shares in Rocket Pharmaceuticals, Inc. $RCKT Purchased by Jump Financial LLC

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 bought a new stake in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 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 SEC.

A number of other institutional investors also recently made changes to their positions in the stock. AlphaQuest LLC boosted its stake in shares of Rocket Pharmaceuticals by 344.5% during the first quarter. AlphaQuest LLC now owns 96,391 shares of the biotechnology company's stock valued at $643,000 after acquiring an additional 74,705 shares during the last quarter. EntryPoint Capital LLC boosted its stake in shares of Rocket Pharmaceuticals by 206.9% during the 1st quarter. EntryPoint Capital LLC now owns 76,419 shares of the biotechnology company's stock worth $510,000 after purchasing an additional 51,516 shares during the last quarter. Voss Capital LP boosted its stake in shares of Rocket Pharmaceuticals by 2.5% during the 1st quarter. Voss Capital LP now owns 432,240 shares of the biotechnology company's stock worth $2,883,000 after purchasing an additional 10,540 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in shares of Rocket Pharmaceuticals during the 1st quarter worth about $69,000. Finally, Cornerstone Select Advisors LLC raised its position in shares of Rocket Pharmaceuticals by 16.9% in the first quarter. Cornerstone Select Advisors LLC now owns 22,265 shares of the biotechnology company's stock valued at $149,000 after buying an additional 3,220 shares during the last quarter. 98.39% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Rocket Pharmaceuticals

In related news, Director Elisabeth Bjork acquired 10,000 shares of Rocket Pharmaceuticals stock in a transaction on Wednesday, August 27th. The shares were bought at an average price of $3.41 per share, for a total transaction of $34,100.00. Following the completion of the purchase, the director directly owned 40,000 shares in the company, valued at $136,400. This trade represents a 33.33% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Martin Wilson sold 12,109 shares of the 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 completion of the sale, the general counsel owned 137,054 shares of the company's stock, valued at approximately $413,903.08. This trade represents a 8.12% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 36,927 shares of company stock worth $111,413. Corporate insiders own 24.76% of the company's stock.

Rocket Pharmaceuticals Trading Down 2.1%

RCKT traded down $0.07 on Monday, reaching $3.28. 2,288,954 shares of the company's stock were exchanged, compared to its average volume of 5,993,756. The company's 50 day moving average is $3.05 and its 200-day moving average is $5.35. The company has a market cap of $353.91 million, a price-to-earnings ratio of -1.31 and a beta of 0.62. Rocket Pharmaceuticals, Inc. has a twelve month low of $2.19 and a twelve month high of $22.01. The company has a debt-to-equity ratio of 0.05, a quick ratio of 6.39 and a current ratio of 6.39.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The biotechnology company reported ($0.59) earnings per share for the quarter, missing analysts' consensus estimates of ($0.57) by ($0.02). During the same quarter in the previous year, the business earned ($0.74) EPS. Equities analysts predict that Rocket Pharmaceuticals, Inc. will post -2.83 earnings per share for the current year.

Wall Street Analysts Forecast Growth

RCKT has been the topic of a number of analyst reports. Evercore ISI lowered shares of Rocket Pharmaceuticals from an "outperform" rating to an "in-line" rating and set a $5.00 target price on the stock. in a research report on Friday, May 30th. Jefferies Financial Group reiterated a "hold" rating on shares of Rocket Pharmaceuticals in a report on Wednesday, May 28th. Leerink Partners restated a "market perform" rating and set a $8.00 price objective (down previously from $37.00) on shares of Rocket Pharmaceuticals in a report on Wednesday, May 28th. Scotiabank dropped their target price on Rocket Pharmaceuticals from $51.00 to $19.00 and set a "sector outperform" rating for the company in a research note on Wednesday, May 28th. Finally, Leerink Partnrs lowered Rocket Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 27th. Eight equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $16.73.

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.