Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. lessened its holdings in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) by 10.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 648,946 shares of the biotechnology company's stock after selling 79,463 shares during the period. Russell Investments Group Ltd. owned approximately 0.72% of Rocket Pharmaceuticals worth $19,449,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. increased its position in Rocket Pharmaceuticals by 96.2% during the third quarter. China Universal Asset Management Co. Ltd. now owns 2,068 shares of the biotechnology company's stock valued at $42,000 after acquiring an additional 1,014 shares during the last quarter. Annandale Capital LLC purchased a new stake in shares of Rocket Pharmaceuticals during the third quarter valued at $66,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Rocket Pharmaceuticals by 14.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,145 shares of the biotechnology company's stock valued at $105,000 after purchasing an additional 633 shares during the period. Harbour Capital Advisors LLC purchased a new stake in shares of Rocket Pharmaceuticals during the fourth quarter valued at $282,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of Rocket Pharmaceuticals by 7.9% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 13,477 shares of the biotechnology company's stock valued at $276,000 after purchasing an additional 981 shares during the period. Institutional investors own 98.39% of the company's stock.

Insider Buying and Selling

In other news, insider Kinnari Patel sold 7,132 shares of the firm's stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $29.84, for a total transaction of $212,818.88. Following the sale, the insider now owns 238,346 shares of the company's stock, valued at approximately $7,112,244.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Kinnari Patel sold 7,132 shares of the firm's stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $29.84, for a total transaction of $212,818.88. Following the sale, the insider now owns 238,346 shares of the company's stock, valued at approximately $7,112,244.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gaurav Shah sold 20,272 shares of the firm's stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $29.84, for a total transaction of $604,916.48. Following the sale, the chief executive officer now directly owns 554,762 shares in the company, valued at approximately $16,554,098.08. The disclosure for this sale can be found here. In the last quarter, insiders have sold 414,935 shares of company stock worth $11,476,424. 31.10% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on RCKT. The Goldman Sachs Group assumed coverage on shares of Rocket Pharmaceuticals in a research note on Tuesday, April 2nd. They set a "neutral" rating and a $39.00 target price for the company. StockNews.com raised shares of Rocket Pharmaceuticals to a "sell" rating in a research note on Friday, February 9th. UBS Group lowered their price objective on shares of Rocket Pharmaceuticals from $56.00 to $54.00 and set a "buy" rating for the company in a research note on Friday, March 1st. Needham & Company LLC reaffirmed a "buy" rating and issued a $53.00 price objective on shares of Rocket Pharmaceuticals in a research note on Wednesday, April 10th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Rocket Pharmaceuticals from $55.00 to $50.00 and set an "overweight" rating for the company in a research report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $52.13.

Rocket Pharmaceuticals Stock Performance

NASDAQ:RCKT traded up $0.70 during midday trading on Friday, hitting $23.47. The company's stock had a trading volume of 630,425 shares, compared to its average volume of 720,086. Rocket Pharmaceuticals, Inc. has a fifty-two week low of $14.89 and a fifty-two week high of $32.53. The firm's 50 day moving average is $25.99 and its 200-day moving average is $25.55. The company has a debt-to-equity ratio of 0.04, a current ratio of 7.80 and a quick ratio of 7.80. The firm has a market cap of $2.13 billion, a P/E ratio of -7.74 and a beta of 1.12.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last issued its quarterly earnings results on Monday, February 26th. The biotechnology company reported ($0.64) earnings per share for the quarter, topping the consensus estimate of ($0.78) by $0.14. During the same quarter last year, the company posted ($0.92) earnings per share. Equities analysts anticipate that Rocket Pharmaceuticals, Inc. will post -2.94 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.