Price T Rowe Associates Inc. MD Has $39.58 Million Stake in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Price T Rowe Associates Inc. MD lowered its position in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) by 1.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,148,520 shares of the biotechnology company's stock after selling 59,261 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 3.45% of Rocket Pharmaceuticals worth $39,578,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Avoro Capital Advisors LLC bought a new position in shares of Rocket Pharmaceuticals in the fourth quarter valued at approximately $15,084,000. Voss Capital LP acquired a new stake in Rocket Pharmaceuticals during the 4th quarter valued at $5,301,000. Tower Research Capital LLC TRC raised its position in Rocket Pharmaceuticals by 391.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 34,187 shares of the biotechnology company's stock valued at $430,000 after purchasing an additional 27,229 shares during the last quarter. MetLife Investment Management LLC boosted its stake in Rocket Pharmaceuticals by 8.0% in the fourth quarter. MetLife Investment Management LLC now owns 40,487 shares of the biotechnology company's stock worth $509,000 after purchasing an additional 2,986 shares in the last quarter. Finally, Natixis bought a new stake in shares of Rocket Pharmaceuticals during the fourth quarter worth $608,000. 98.39% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on RCKT. Chardan Capital reduced their price target on shares of Rocket Pharmaceuticals from $62.00 to $54.00 and set a "buy" rating on the stock in a research report on Friday, February 28th. Needham & Company LLC restated a "buy" rating and issued a $42.00 price objective on shares of Rocket Pharmaceuticals in a research report on Wednesday, April 9th. The Goldman Sachs Group reduced their price objective on Rocket Pharmaceuticals from $29.00 to $15.00 and set a "neutral" rating on the stock in a report on Monday, March 3rd. Scotiabank lifted their target price on Rocket Pharmaceuticals from $51.00 to $52.00 and gave the company a "sector outperform" rating in a research note on Monday, March 3rd. Finally, BMO Capital Markets initiated coverage on Rocket Pharmaceuticals in a research note on Wednesday, March 12th. They set an "outperform" rating and a $50.00 price target on the stock. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $43.00.

Rocket Pharmaceuticals Stock Performance

NASDAQ RCKT traded up $0.15 during trading on Friday, reaching $8.01. 2,036,907 shares of the company's stock were exchanged, compared to its average volume of 1,355,447. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.05 and a quick ratio of 6.05. Rocket Pharmaceuticals, Inc. has a fifty-two week low of $4.55 and a fifty-two week high of $26.98. The business has a 50 day moving average price of $7.37 and a 200-day moving average price of $11.03. The stock has a market capitalization of $855.36 million, a P/E ratio of -2.91 and a beta of 1.02.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last announced its quarterly earnings results on Monday, March 3rd. The biotechnology company reported ($0.62) EPS for the quarter, beating analysts' consensus estimates of ($0.68) by $0.06. Sell-side analysts forecast that Rocket Pharmaceuticals, Inc. will post -2.83 earnings per share for the current fiscal year.

Insider Buying and Selling at Rocket Pharmaceuticals

In related news, insider Kinnari Patel purchased 21,099 shares of the firm's stock in a transaction that occurred on Wednesday, April 9th. The shares were bought at an average price of $4.70 per share, for a total transaction of $99,165.30. Following the completion of the transaction, the insider now owns 26,774 shares of the company's stock, valued at approximately $125,837.80. This trade represents a 371.79 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Gaurav Shah bought 20,000 shares of the firm's stock in a transaction on Thursday, April 10th. The stock was purchased at an average cost of $5.08 per share, for a total transaction of $101,600.00. Following the completion of the acquisition, the chief executive officer now owns 792,680 shares in the company, 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. Insiders own 28.50% of the company's stock.

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.