Sphera Funds Management LTD. Increases Stock Position in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Sphera Funds Management LTD. increased its position in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) by 17.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 271,792 shares of the biotechnology company's stock after buying an additional 40,000 shares during the period. Sphera Funds Management LTD. owned about 0.30% of Rocket Pharmaceuticals worth $3,416,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Covestor Ltd raised its position in shares of Rocket Pharmaceuticals by 33,166.7% in the fourth quarter. Covestor Ltd now owns 1,996 shares of the biotechnology company's stock valued at $25,000 after buying an additional 1,990 shares during the last quarter. Signaturefd LLC raised its position in shares of Rocket Pharmaceuticals by 319.8% in the fourth quarter. Signaturefd LLC now owns 4,916 shares of the biotechnology company's stock valued at $62,000 after buying an additional 3,745 shares during the last quarter. Harbour Investments Inc. raised 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 valued at $68,000 after buying an additional 1,840 shares during the last quarter. KBC Group NV raised 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 valued at $69,000 after buying an additional 3,366 shares during the last quarter. Finally, Virtus ETF Advisers LLC raised its position in shares of Rocket Pharmaceuticals by 40.4% in the fourth quarter. Virtus ETF Advisers LLC now owns 5,656 shares of the biotechnology company's stock valued at $71,000 after buying an additional 1,628 shares during the last quarter. Institutional investors and hedge funds own 98.39% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on RCKT. The Goldman Sachs Group dropped their price target on shares of Rocket Pharmaceuticals from $15.00 to $13.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. JPMorgan Chase & Co. dropped their price target on shares of Rocket Pharmaceuticals from $45.00 to $44.00 and set an "overweight" rating for the company in a research report on Friday, May 9th. 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. BMO Capital Markets began coverage on shares of Rocket Pharmaceuticals in a research report on Wednesday, March 12th. They set an "outperform" rating and a $50.00 price target for the company. Finally, Canaccord Genuity Group dropped their price target on shares of Rocket Pharmaceuticals from $36.00 to $34.00 and set a "buy" rating for the company in a research report on Monday, May 12th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Rocket Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average target price of $37.73.

Rocket Pharmaceuticals Trading Down 0.8%

RCKT traded down $0.05 during trading on Monday, hitting $6.45. 1,559,508 shares of the company's stock were exchanged, compared to its average volume of 1,486,476. 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, Inc. has a 1 year low of $4.55 and a 1 year high of $26.98. The stock has a 50 day moving average price of $6.89 and a 200 day moving average price of $10.16. The firm has a market cap of $688.77 million, a P/E ratio of -2.35 and a beta of 1.02.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last released its quarterly earnings data on Tuesday, May 13th. The biotechnology company reported ($0.56) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.58) by $0.02. During the same quarter in the previous year, the company earned ($0.66) EPS. As a group, analysts expect that Rocket Pharmaceuticals, Inc. will post -2.83 EPS for the current fiscal year.

Insider Activity

In other news, insider Kinnari Patel bought 21,099 shares of the firm's stock in a transaction dated Wednesday, April 9th. The stock was acquired at an average cost of $4.70 per share, for a total transaction of $99,165.30. Following the completion of the purchase, the insider now owns 26,774 shares of the company's stock, valued at $125,837.80. This trade 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 can be accessed through this hyperlink. Also, CFO Aaron Ondrey sold 7,489 shares of the company's stock in a transaction on Friday, April 4th. The shares were sold at an average price of $5.29, for a total transaction of $39,616.81. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 24.76% 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.