The Manufacturers Life Insurance Company Has $3.01 Million Holdings in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

The Manufacturers Life Insurance Company grew its holdings in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 23.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 139,613 shares of the biotechnology company’s stock after acquiring an additional 26,556 shares during the quarter. The Manufacturers Life Insurance Company owned 0.15% of Rocket Pharmaceuticals worth $3,006,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Nisa Investment Advisors LLC boosted its holdings in shares of Rocket Pharmaceuticals by 31.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,160 shares of the biotechnology company’s stock valued at $68,000 after acquiring an additional 764 shares in the last quarter. Old Well Partners LLC acquired a new position in shares of Rocket Pharmaceuticals in the fourth quarter valued at approximately $200,000. Virtu Financial LLC bought a new position in Rocket Pharmaceuticals in the 4th quarter valued at approximately $332,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Rocket Pharmaceuticals by 30.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,092 shares of the biotechnology company’s stock worth $368,000 after buying an additional 3,995 shares during the period. Finally, China Universal Asset Management Co. Ltd. grew its holdings in Rocket Pharmaceuticals by 66.6% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 17,365 shares of the biotechnology company’s stock worth $468,000 after acquiring an additional 6,941 shares during the last quarter. Institutional investors own 98.39% of the company’s stock.

Rocket Pharmaceuticals Stock Up 2.9 %

Shares of NASDAQ:RCKT opened at $17.25 on Wednesday. The firm has a market cap of $1.57 billion, a P/E ratio of -6.01 and a beta of 1.09. Rocket Pharmaceuticals, Inc. has a 52-week low of $15.98 and a 52-week high of $32.53. The business’s 50 day simple moving average is $19.05 and its two-hundred day simple moving average is $21.65. The company has a debt-to-equity ratio of 0.05, a quick ratio of 7.79 and a current ratio of 7.79.

Rocket Pharmaceuticals (NASDAQ:RCKT) last released its quarterly earnings data on Monday, August 5th. The biotechnology company reported ($0.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.02). During the same quarter in the previous year, the company earned ($0.82) EPS. As a group, research analysts forecast that Rocket Pharmaceuticals, Inc. will post -2.97 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of Rocket Pharmaceuticals from $50.00 to $54.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $65.00 price target on shares of Rocket Pharmaceuticals in a research report on Tuesday, August 6th. Chardan Capital restated a “buy” rating and set a $62.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday, August 6th. Needham & Company LLC reiterated a “buy” rating and issued a $52.00 target price on shares of Rocket Pharmaceuticals in a report on Tuesday, September 17th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $38.00 price target on shares of Rocket Pharmaceuticals in a report on Monday, September 30th. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $52.00.

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.