Toronto Dominion Bank Purchases Shares of 1,100,000 Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

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

Other large investors also recently modified their holdings of the company. Covestor Ltd increased its position in Rocket Pharmaceuticals by 33,166.7% during the 4th quarter. Covestor Ltd now owns 1,996 shares of the biotechnology company's stock worth $25,000 after purchasing an additional 1,990 shares in the last quarter. Signaturefd LLC grew its stake in Rocket Pharmaceuticals by 319.8% during the fourth quarter. Signaturefd LLC now owns 4,916 shares of the biotechnology company's stock worth $62,000 after buying an additional 3,745 shares during the period. Harbour Investments Inc. increased its position in shares of Rocket Pharmaceuticals by 51.9% in the fourth quarter. Harbour Investments Inc. now owns 5,385 shares of the biotechnology company's stock worth $68,000 after acquiring an additional 1,840 shares in the last quarter. KBC Group NV increased its position in shares of Rocket Pharmaceuticals by 159.6% in the fourth quarter. KBC Group NV now owns 5,475 shares of the biotechnology company's stock worth $69,000 after acquiring an additional 3,366 shares in the last quarter. Finally, Virtus ETF Advisers LLC raised its stake 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 valued at $71,000 after acquiring an additional 1,628 shares during the period. 98.39% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Rocket Pharmaceuticals news, CFO Aaron Ondrey sold 7,489 shares of the stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $5.29, for a total transaction of $39,616.81. Following the transaction, the chief financial officer now 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Gaurav Shah bought 20,000 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer now owns 792,680 shares in the company, valued at approximately $4,026,814.40. This represents a 2.59% increase in their position. The disclosure for this purchase can be found here. 24.76% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on RCKT. Cantor Fitzgerald upped their price target on shares of Rocket Pharmaceuticals from $20.00 to $30.00 and gave the stock an "overweight" rating in a research report on Friday. Chardan Capital upped their target price on Rocket Pharmaceuticals from $45.00 to $46.00 and gave the stock a "buy" rating in a research report on Friday. Scotiabank lowered their target price on 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. Canaccord Genuity Group reduced their price target on Rocket Pharmaceuticals from $36.00 to $34.00 and set a "buy" rating on the stock in a research report on Monday, May 12th. Finally, Wedbush restated an "outperform" rating and issued a $32.00 price target on shares of Rocket Pharmaceuticals in a report on Friday. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $37.73.

Rocket Pharmaceuticals Price Performance

Shares of NASDAQ RCKT opened at $6.45 on Tuesday. The business has a 50 day moving average price of $6.89 and a two-hundred day moving average price of $10.16. Rocket Pharmaceuticals, Inc. has a fifty-two week low of $4.55 and a fifty-two week high of $26.98. The firm has a market cap of $688.77 million, a PE ratio of -2.35 and a beta of 1.02. 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 (NASDAQ:RCKT - Get Free Report) last released its quarterly earnings results on Tuesday, May 13th. The biotechnology company reported ($0.56) earnings per share for the quarter, topping analysts' consensus estimates of ($0.58) by $0.02. During the same quarter last year, the company posted ($0.66) EPS. Sell-side analysts expect that Rocket Pharmaceuticals, Inc. will post -2.83 earnings per share for the current fiscal year.

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.

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