Rhumbline Advisers Has $1.25 Million Stock Position in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Rhumbline Advisers raised its holdings in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 1.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 99,339 shares of the biotechnology company’s stock after buying an additional 1,242 shares during the quarter. Rhumbline Advisers owned about 0.11% of Rocket Pharmaceuticals worth $1,249,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Rocket Pharmaceuticals by 21.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,292 shares of the biotechnology company’s stock worth $61,000 after purchasing an additional 582 shares during the period. KBC Group NV grew its position in Rocket Pharmaceuticals by 159.6% during the fourth quarter. KBC Group NV now owns 5,475 shares of the biotechnology company’s stock worth $69,000 after buying an additional 3,366 shares in the last quarter. Strategic Financial Concepts LLC bought a new position in Rocket Pharmaceuticals during the fourth quarter valued at about $141,000. XTX Topco Ltd acquired a new position in Rocket Pharmaceuticals in the 3rd quarter valued at approximately $286,000. Finally, Verition Fund Management LLC acquired a new position in Rocket Pharmaceuticals in the 3rd quarter valued at approximately $290,000. Institutional investors and hedge funds own 98.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on RCKT shares. Needham & Company LLC lowered their price objective on Rocket Pharmaceuticals from $52.00 to $42.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Cantor Fitzgerald reissued an “overweight” rating and issued a $65.00 price target on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th. Wedbush started coverage on shares of Rocket Pharmaceuticals in a research note on Monday, December 30th. They issued an “outperform” rating and a $32.00 price objective for the company. Chardan Capital decreased their target price 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. Finally, Jefferies Financial Group initiated coverage on shares of Rocket Pharmaceuticals in a research note on Wednesday, December 18th. They issued a “buy” rating and a $29.00 target price on the stock. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Rocket Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $42.30.

Rocket Pharmaceuticals Trading Up 6.4 %

Shares of RCKT stock opened at $9.21 on Thursday. The company has a market capitalization of $839.56 million, a P/E ratio of -3.35 and a beta of 0.98. Rocket Pharmaceuticals, Inc. has a 12-month low of $8.25 and a 12-month high of $28.73. The company has a quick ratio of 6.05, a current ratio of 6.05 and a debt-to-equity ratio of 0.06. The firm has a 50-day moving average price of $10.78 and a 200 day moving average price of $14.52.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its quarterly earnings data on Monday, March 3rd. The biotechnology company reported ($0.62) earnings per share for the quarter, topping the consensus estimate of ($0.68) by $0.06. Research analysts forecast that Rocket Pharmaceuticals, Inc. will post -2.83 earnings per share for the current fiscal year.

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.