Nuveen LLC Invests $1.19 Million in Rocket Pharmaceuticals, Inc. $RCKT

Key Points

• Nuveen LLC acquired 178,293 shares of Rocket Pharmaceuticals, Inc., valued at approximately $1.19 million, making it one of several institutional investors increasing their holdings in the company.
• Wall Street analysts have downgraded Rocket Pharmaceuticals, with ratings ranging from "outperform" to "sell," and the consensus price target has dropped to $16.73.
• Rocket Pharmaceuticals' stock price opened at $3.28 and has seen a twelve-month high of $22.01, highlighting significant volatility in its recent performance.

Nuveen LLC bought a new stake in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 178,293 shares of the biotechnology company's stock, valued at approximately $1,189,000. Nuveen LLC owned 0.17% of Rocket Pharmaceuticals as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Entropy Technologies LP acquired a new position in shares of Rocket Pharmaceuticals during the 1st quarter worth approximately $164,000. Invesco Ltd. boosted its holdings in shares of Rocket Pharmaceuticals by 12.1% during the first quarter. Invesco Ltd. now owns 400,969 shares of the biotechnology company's stock worth $2,674,000 after acquiring an additional 43,129 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Rocket Pharmaceuticals by 8.4% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 21,885 shares of the biotechnology company's stock valued at $146,000 after purchasing an additional 1,689 shares during the last quarter. Deutsche Bank AG increased its stake in shares of Rocket Pharmaceuticals by 12.1% during the first quarter. Deutsche Bank AG now owns 71,470 shares of the biotechnology company's stock worth $477,000 after purchasing an additional 7,692 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Rocket Pharmaceuticals by 3.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 675,481 shares of the biotechnology company's stock worth $4,505,000 after purchasing an additional 19,391 shares during the last quarter. Institutional investors own 98.39% of the company's stock.

Insider Buying and Selling

In other news, insider Jonathan David Schwartz sold 11,161 shares of Rocket Pharmaceuticals stock in a transaction on Thursday, August 14th. The shares were 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 approximately $676,763.88. The trade was a 4.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Elisabeth Bjork bought 10,000 shares of the business's stock in a transaction that occurred on Wednesday, August 27th. The stock was bought at an average price of $3.41 per share, with a total value of $34,100.00. Following the completion of the transaction, the director directly owned 40,000 shares of the company's stock, valued at $136,400. This represents a 33.33% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 36,927 shares of company stock valued at $111,413. 24.76% of the stock is owned by insiders.

Rocket Pharmaceuticals Stock Down 1.2%

Shares of RCKT stock traded down $0.04 on Tuesday, reaching $3.24. 1,708,929 shares of the company were exchanged, compared to its average volume of 5,877,142. Rocket Pharmaceuticals, Inc. has a one year low of $2.19 and a one year high of $22.01. The company has a market cap of $349.60 million, a price-to-earnings ratio of -1.29 and a beta of 0.62. The company has a 50-day moving average of $3.07 and a 200-day moving average of $5.28. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.39 and a quick ratio of 6.39.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last posted its quarterly earnings results 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 quarter last year, the business earned ($0.74) EPS. Analysts anticipate that Rocket Pharmaceuticals, Inc. will post -2.83 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on RCKT. Canaccord Genuity Group dropped their target price on Rocket Pharmaceuticals from $11.00 to $10.00 and set a "buy" rating for the company in a report on Friday, July 25th. TD Cowen reissued a "hold" rating on shares of Rocket Pharmaceuticals in a report on Tuesday, May 27th. Scotiabank lowered their target price on shares of Rocket Pharmaceuticals from $51.00 to $19.00 and set a "sector outperform" rating on the stock in a report on Wednesday, May 28th. Bank of America raised Rocket Pharmaceuticals from a "neutral" rating to a "buy" rating and increased their price target for the stock from $4.00 to $10.00 in a research report on Wednesday, August 20th. Finally, Wedbush reiterated an "outperform" rating and set a $32.00 target price on shares of Rocket Pharmaceuticals in a research report on Friday, May 16th. Eight investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price 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.