Toronto Dominion Bank Invests $13.83 Million in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Toronto Dominion Bank acquired a new position in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,100,000 shares of the biotechnology company's stock, valued at approximately $13,827,000. Toronto Dominion Bank owned approximately 1.21% of Rocket Pharmaceuticals at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Rhumbline Advisers grew its position in Rocket Pharmaceuticals by 1.3% in the fourth quarter. Rhumbline Advisers now owns 99,339 shares of the biotechnology company's stock worth $1,249,000 after acquiring an additional 1,242 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Rocket Pharmaceuticals by 4.1% in the 4th quarter. Envestnet Asset Management Inc. now owns 32,422 shares of the biotechnology company's stock worth $408,000 after purchasing an additional 1,280 shares in the last quarter. Arizona State Retirement System boosted its holdings in shares of Rocket Pharmaceuticals by 8.4% in the 4th quarter. Arizona State Retirement System now owns 19,826 shares of the biotechnology company's stock worth $249,000 after purchasing an additional 1,528 shares in the last quarter. Virtus ETF Advisers LLC boosted its holdings 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 worth $71,000 after purchasing an additional 1,628 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its holdings in shares of Rocket Pharmaceuticals by 10.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 19,329 shares of the biotechnology company's stock worth $243,000 after purchasing an additional 1,824 shares in the last quarter. Hedge funds and other institutional investors own 98.39% of the company's stock.

Rocket Pharmaceuticals Trading Down 5.3%

RCKT stock traded down $0.14 on Friday, reaching $2.48. The company's stock had a trading volume of 7,402,317 shares, compared to its average volume of 1,873,470. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.05 and a current ratio of 6.05. Rocket Pharmaceuticals, Inc. has a 12-month low of $2.19 and a 12-month high of $26.98. The business has a fifty day simple moving average of $6.20 and a two-hundred day simple moving average of $9.49. The firm has a market cap of $264.83 million, a PE ratio of -0.90 and a beta of 1.02.

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on RCKT shares. The Goldman Sachs Group lowered Rocket Pharmaceuticals from a "neutral" rating to a "sell" rating in a research note on Wednesday. JPMorgan Chase & Co. reaffirmed a "neutral" rating on shares of Rocket Pharmaceuticals in a research note on Wednesday. Evercore ISI cut shares of Rocket Pharmaceuticals from an "outperform" rating to an "in-line" rating and set a $5.00 price objective for the company. in a research note on Friday. Leerink Partners restated a "market perform" rating and set a $8.00 price target (down from $37.00) on shares of Rocket Pharmaceuticals in a research report on Wednesday. Finally, TD Cowen restated a "hold" rating on shares of Rocket Pharmaceuticals in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $21.21.

Insider Activity

In related news, CFO Aaron Ondrey sold 7,489 shares of Rocket Pharmaceuticals stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $5.29, for a total transaction of $39,616.81. Following the completion of the transaction, the chief financial officer now directly owns 129,650 shares of the company's stock, valued at $685,848.50. This trade represents a 5.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Gaurav Shah purchased 20,000 shares of the stock in a transaction dated Thursday, April 10th. The stock was bought at an average cost of $5.08 per share, with a total value of $101,600.00. Following the transaction, the chief executive officer now owns 792,680 shares in the company, valued at $4,026,814.40. The trade was 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 company insiders.

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.