LMR Partners LLP Acquires New Holdings in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

LMR Partners LLP bought a new stake in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 75,000 shares of the biotechnology company's stock, valued at approximately $943,000. LMR Partners LLP owned about 0.08% of Rocket Pharmaceuticals at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of RCKT. Hennion & Walsh Asset Management Inc. grew its position in Rocket Pharmaceuticals by 7.4% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 237,499 shares of the biotechnology company's stock worth $2,985,000 after purchasing an additional 16,453 shares during the last quarter. Mirador Capital Partners LP grew its position in Rocket Pharmaceuticals by 403.9% in the 4th quarter. Mirador Capital Partners LP now owns 84,529 shares of the biotechnology company's stock worth $1,063,000 after purchasing an additional 67,755 shares during the last quarter. SG Americas Securities LLC grew its position in Rocket Pharmaceuticals by 796.2% in the 4th quarter. SG Americas Securities LLC now owns 54,921 shares of the biotechnology company's stock worth $690,000 after purchasing an additional 48,793 shares during the last quarter. KBC Group NV grew its position in Rocket Pharmaceuticals by 159.6% in the 4th quarter. KBC Group NV now owns 5,475 shares of the biotechnology company's stock worth $69,000 after purchasing an additional 3,366 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its position in 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 during the last quarter. 98.39% of the stock is currently owned by institutional investors and hedge funds.

Rocket Pharmaceuticals Price Performance

Shares of NASDAQ RCKT traded down $0.22 during trading on Friday, reaching $6.50. The company had a trading volume of 3,226,279 shares, compared to its average volume of 1,482,495. Rocket Pharmaceuticals, Inc. has a 52 week low of $4.55 and a 52 week high of $26.98. The stock has a market cap of $694.11 million, a PE ratio of -2.36 and a beta of 1.02. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.05 and a current ratio of 6.05. The business's 50 day moving average price is $6.93 and its 200-day moving average price is $10.32.

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, topping analysts' consensus estimates of ($0.58) by $0.02. During the same quarter in the prior year, the company earned ($0.66) earnings per share. Analysts expect that Rocket Pharmaceuticals, Inc. will post -2.83 earnings per share for the current year.

Analyst Upgrades and Downgrades

RCKT has been the topic of several research analyst reports. The Goldman Sachs Group decreased their price target on shares of Rocket Pharmaceuticals from $15.00 to $13.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Needham & Company LLC restated a "buy" rating and issued a $42.00 price target on shares of Rocket Pharmaceuticals in a research report on Wednesday, April 9th. JPMorgan Chase & Co. reduced their price objective on shares of Rocket Pharmaceuticals from $45.00 to $44.00 and set an "overweight" rating for the company in a report on Friday, May 9th. BMO Capital Markets initiated coverage on shares of Rocket Pharmaceuticals in a report on Wednesday, March 12th. They set an "outperform" rating and a $50.00 price objective for the company. Finally, Wedbush reaffirmed an "outperform" rating and set a $32.00 price objective on shares of Rocket Pharmaceuticals in a report on Friday. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $37.73.

Insiders Place Their Bets

In other Rocket Pharmaceuticals news, insider Kinnari Patel purchased 21,099 shares of the company's stock in a transaction that occurred on Wednesday, April 9th. The stock was acquired at an average cost 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 in the company, valued at approximately $125,837.80. This represents a 371.79% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gaurav Shah purchased 20,000 shares of the company's stock in a transaction that occurred on Thursday, April 10th. The shares were acquired at an average cost of $5.08 per share, with a total value of $101,600.00. Following the completion of the purchase, the chief executive officer now owns 792,680 shares of the company's stock, 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. Insiders own 28.50% of the company's stock.

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.