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

Price T Rowe Associates Inc. MD lowered its stake in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) by 1.8% in the fourth quarter, according to its most recent Form 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 period. Price T Rowe Associates Inc. MD owned about 3.45% of Rocket Pharmaceuticals worth $39,578,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Wellington Management Group LLP grew its stake in shares of Rocket Pharmaceuticals by 24.5% during the fourth quarter. Wellington Management Group LLP now owns 13,995,177 shares of the biotechnology company's stock worth $175,919,000 after purchasing an additional 2,753,033 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Rocket Pharmaceuticals by 18.8% during the fourth quarter. Vanguard Group Inc. now owns 6,577,595 shares of the biotechnology company's stock worth $82,680,000 after buying an additional 1,040,655 shares during the last quarter. Geode Capital Management LLC raised its stake in Rocket Pharmaceuticals by 8.4% during the 4th quarter. Geode Capital Management LLC now owns 1,752,975 shares of the biotechnology company's stock valued at $22,041,000 after acquiring an additional 135,109 shares during the last quarter. Avoro Capital Advisors LLC purchased a new position in shares of Rocket Pharmaceuticals in the 4th quarter valued at approximately $15,084,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Rocket Pharmaceuticals by 15.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 656,090 shares of the biotechnology company's stock valued at $8,247,000 after acquiring an additional 86,276 shares in the last quarter. 98.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on RCKT. Scotiabank raised their price objective 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. BMO Capital Markets began coverage on shares of Rocket Pharmaceuticals in a report on Wednesday, March 12th. They issued an "outperform" rating and a $50.00 target price on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $42.00 target price on shares of Rocket Pharmaceuticals in a research note on Wednesday, April 9th. The Goldman Sachs Group reduced their price target on Rocket Pharmaceuticals from $29.00 to $15.00 and set a "neutral" rating on the stock in a research note on Monday, March 3rd. Finally, Canaccord Genuity Group dropped their target price on Rocket Pharmaceuticals from $39.00 to $36.00 and set a "buy" rating for the company in a research note on Monday, March 3rd. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, Rocket Pharmaceuticals has an average rating of "Moderate Buy" and an average price target of $43.00.

Insider Activity at Rocket Pharmaceuticals

In other Rocket Pharmaceuticals news, insider Kinnari Patel purchased 21,099 shares of the firm's stock in a transaction on Wednesday, April 9th. The shares were purchased at an average price of $4.70 per share, for a total transaction of $99,165.30. Following the completion of the purchase, the insider now directly owns 26,774 shares of the company's stock, valued at approximately $125,837.80. This represents a 371.79 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gaurav Shah bought 20,000 shares of the stock in a transaction dated 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 acquisition, 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 position. The disclosure for this purchase can be found here. Insiders own 28.50% of the company's stock.

Rocket Pharmaceuticals Stock Performance

Rocket Pharmaceuticals stock traded up $0.15 during midday trading on Monday, reaching $8.16. 481,987 shares of the stock traded hands, compared to its average volume of 1,352,120. The firm has a fifty day moving average price of $7.37 and a two-hundred day moving average price of $10.98. 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 $871.37 million, a price-to-earnings ratio of -2.97 and a beta of 1.02. The company has a current ratio of 6.05, a quick ratio of 6.05 and a debt-to-equity ratio of 0.06.

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

Rocket Pharmaceuticals 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.