BNP Paribas Financial Markets Has $1.99 Million Holdings in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

BNP Paribas Financial Markets grew its stake in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) by 302.9% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 158,439 shares of the biotechnology company's stock after buying an additional 119,115 shares during the period. BNP Paribas Financial Markets owned approximately 0.17% of Rocket Pharmaceuticals worth $1,992,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Wellington Management Group LLP raised its holdings in Rocket Pharmaceuticals by 24.5% in the 4th quarter. Wellington Management Group LLP now owns 13,995,177 shares of the biotechnology company's stock valued at $175,919,000 after acquiring an additional 2,753,033 shares in the last quarter. Boxer Capital Management LLC bought a new stake in shares of Rocket Pharmaceuticals during the fourth quarter valued at approximately $18,428,000. Avoro Capital Advisors LLC bought a new stake in shares of Rocket Pharmaceuticals during the fourth quarter valued at approximately $15,084,000. Vanguard Group Inc. raised its stake in shares of Rocket Pharmaceuticals by 18.8% in the fourth quarter. Vanguard Group Inc. now owns 6,577,595 shares of the biotechnology company's stock valued at $82,680,000 after purchasing an additional 1,040,655 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in Rocket Pharmaceuticals by 4,422.4% in the fourth quarter. Marshall Wace LLP now owns 456,762 shares of the biotechnology company's stock worth $5,741,000 after purchasing an additional 446,662 shares during the period. Institutional investors own 98.39% of the company's stock.

Insider Buying and Selling

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

Analyst Ratings Changes

RCKT has been the topic of a number of recent research reports. Canaccord Genuity Group decreased their price target on shares of Rocket Pharmaceuticals from $36.00 to $34.00 and set a "buy" rating on the stock in a research note on Monday, May 12th. JPMorgan Chase & Co. lowered their target price on shares of Rocket Pharmaceuticals from $45.00 to $44.00 and set an "overweight" rating on the stock in a research note on Friday, May 9th. BMO Capital Markets began coverage on shares of Rocket Pharmaceuticals in a research report on Wednesday, March 12th. They issued an "outperform" rating and a $50.00 price target for the company. Scotiabank cut their price target on shares of Rocket Pharmaceuticals from $52.00 to $51.00 and set a "sector outperform" rating for the company in a research note on Monday, May 12th. Finally, Chardan Capital lifted their price objective on Rocket Pharmaceuticals from $45.00 to $46.00 and gave the company a "buy" rating in a report on Friday, May 16th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $37.73.

Rocket Pharmaceuticals Price Performance

RCKT stock traded up $0.16 during midday trading on Thursday, reaching $6.75. 840,607 shares of the company's stock traded hands, compared to its average volume of 1,499,833. The company has a 50-day simple moving average of $6.81 and a two-hundred day simple moving average of $10.11. 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, Inc. has a 1-year low of $4.55 and a 1-year high of $26.98. The company has a market cap of $720.27 million, a price-to-earnings ratio of -2.45 and a beta of 1.02.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last announced its earnings results on Tuesday, May 13th. The biotechnology company reported ($0.56) earnings per share for the quarter, beating analysts' consensus estimates of ($0.58) by $0.02. During the same period last year, the business earned ($0.66) earnings per share. On average, analysts anticipate that Rocket Pharmaceuticals, Inc. will post -2.83 earnings per share for the current year.

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.