Goldman Sachs Group Inc. Has $17.82 Million Stock Position in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Goldman Sachs Group Inc. lifted its stake in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 12.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 594,665 shares of the biotechnology company’s stock after buying an additional 64,946 shares during the period. Goldman Sachs Group Inc. owned about 0.66% of Rocket Pharmaceuticals worth $17,822,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Annandale Capital LLC bought a new position in Rocket Pharmaceuticals in the third quarter valued at about $66,000. Tower Research Capital LLC TRC boosted its position in Rocket Pharmaceuticals by 105.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,557 shares of the biotechnology company’s stock worth $107,000 after buying an additional 1,829 shares during the period. Old Well Partners LLC bought a new stake in Rocket Pharmaceuticals during the 4th quarter worth approximately $200,000. Capstone Investment Advisors LLC acquired a new position in Rocket Pharmaceuticals in the 4th quarter valued at approximately $217,000. Finally, Amalgamated Bank raised its stake in shares of Rocket Pharmaceuticals by 5.4% during the fourth quarter. Amalgamated Bank now owns 8,653 shares of the biotechnology company’s stock valued at $259,000 after acquiring an additional 440 shares during the last quarter. 98.39% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Mark Andrew White sold 12,532 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $24.64, for a total transaction of $308,788.48. Following the completion of the sale, the insider now owns 75,226 shares in the company, valued at $1,853,568.64. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Rocket Pharmaceuticals news, Director David P. Southwell sold 70,000 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $24.36, for a total transaction of $1,705,200.00. Following the completion of the sale, the director now directly owns 95,160 shares of the company’s stock, valued at approximately $2,318,097.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark Andrew White sold 12,532 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $24.64, for a total value of $308,788.48. Following the completion of the sale, the insider now directly owns 75,226 shares of the company’s stock, valued at $1,853,568.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 105,282 shares of company stock worth $2,551,801. Corporate insiders own 31.10% of the company’s stock.

Analysts Set New Price Targets

RCKT has been the subject of several analyst reports. UBS Group lowered their target price on Rocket Pharmaceuticals from $56.00 to $54.00 and set a “buy” rating for the company in a research report 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 Tuesday, May 7th. The Goldman Sachs Group began coverage on shares of Rocket Pharmaceuticals in a research report on Tuesday, April 2nd. They set a “neutral” rating and a $39.00 target price for the company. Finally, William Blair restated an “outperform” rating on shares of Rocket Pharmaceuticals in a research report on Monday, June 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.13.

Rocket Pharmaceuticals Stock Up 0.7 %

Shares of NASDAQ RCKT opened at $21.43 on Friday. The company has a quick ratio of 10.47, a current ratio of 10.47 and a debt-to-equity ratio of 0.04. The firm has a market cap of $1.95 billion, a PE ratio of -7.47 and a beta of 1.08. The company’s fifty day simple moving average is $22.41 and its 200 day simple moving average is $26.02. Rocket Pharmaceuticals, Inc. has a 12-month low of $14.89 and a 12-month high of $32.53.

Rocket Pharmaceuticals (NASDAQ:RCKT) last released its quarterly earnings data on Monday, May 6th. The biotechnology company reported ($0.66) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.67) by $0.01. During the same quarter in the prior year, the firm posted ($0.73) EPS. As a group, sell-side analysts forecast that Rocket Pharmaceuticals, Inc. will post -2.85 earnings per share for the current fiscal 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.