Macquarie Group Ltd. decreased its holdings in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT – Get Rating) by 1.0% during the third quarter, according to its most recent filing with the SEC. The firm owned 58,317 shares of the biotechnology company's stock after selling 581 shares during the period. Macquarie Group Ltd. owned 0.08% of Rocket Pharmaceuticals worth $940,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in Rocket Pharmaceuticals by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 3,349,160 shares of the biotechnology company's stock worth $53,118,000 after acquiring an additional 48,022 shares in the last quarter. State Street Corp boosted its holdings in Rocket Pharmaceuticals by 17.5% in the first quarter. State Street Corp now owns 2,753,647 shares of the biotechnology company's stock valued at $43,673,000 after purchasing an additional 410,234 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Rocket Pharmaceuticals by 133.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,551,774 shares of the biotechnology company's stock valued at $24,612,000 after acquiring an additional 886,919 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Rocket Pharmaceuticals by 102.2% during the third quarter. Dimensional Fund Advisors LP now owns 883,569 shares of the biotechnology company's stock worth $14,099,000 after purchasing an additional 446,574 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of Rocket Pharmaceuticals by 1.6% in the second quarter. JPMorgan Chase & Co. now owns 851,594 shares of the biotechnology company's stock valued at $11,718,000 after buying an additional 13,679 shares in the last quarter. 93.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

RCKT has been the topic of several research analyst reports. SVB Leerink reduced their price objective on Rocket Pharmaceuticals from $50.00 to $49.00 and set an "outperform" rating on the stock in a research note on Monday, January 23rd. Morgan Stanley initiated coverage on Rocket Pharmaceuticals in a research report on Wednesday, February 1st. They set an "overweight" rating and a $45.00 price objective for the company. Chardan Capital reduced their price target on Rocket Pharmaceuticals from $65.00 to $63.00 and set a "buy" rating for the company in a research report on Wednesday, March 1st. Bank of America cut their target price on Rocket Pharmaceuticals from $38.00 to $35.00 and set a "buy" rating on the stock in a research report on Friday, December 23rd. Finally, Needham & Company LLC restated a "buy" rating and issued a $60.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday, February 28th. One analyst has rated the stock with a sell rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $52.58.

Rocket Pharmaceuticals Stock Performance

Shares of RCKT opened at $18.46 on Monday. The stock's 50-day simple moving average is $20.28 and its 200 day simple moving average is $18.38. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of -5.61 and a beta of 1.23. The company has a debt-to-equity ratio of 0.04, a quick ratio of 9.29 and a current ratio of 9.29. Rocket Pharmaceuticals, Inc. has a 52-week low of $7.57 and a 52-week high of $23.48.

Rocket Pharmaceuticals (NASDAQ:RCKT – Get Rating) last issued its quarterly earnings data on Monday, February 27th. The biotechnology company reported ($0.92) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.82) by ($0.10). During the same period last year, the firm earned ($0.69) earnings per share. Research analysts forecast that Rocket Pharmaceuticals, Inc. will post -3.3 EPS for the current fiscal year.

Insider Buying and Selling at Rocket Pharmaceuticals

In other news, insider Jonathan David Schwartz sold 3,557 shares of the stock in a transaction dated Friday, February 17th. The stock was sold at an average price of $19.06, for a total transaction of $67,796.42. Following the transaction, the insider now directly owns 94,546 shares in the company, valued at approximately $1,802,046.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Gaurav Shah sold 12,194 shares of the business's stock in a transaction dated Friday, February 17th. The stock was sold at an average price of $19.06, for a total value of $232,417.64. Following the sale, the chief executive officer now directly owns 536,885 shares in the company, valued at $10,233,028.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jonathan David Schwartz sold 3,557 shares of the company's stock in a transaction that occurred on Friday, February 17th. The shares were sold at an average price of $19.06, for a total value of $67,796.42. Following the transaction, the insider now directly owns 94,546 shares in the company, valued at approximately $1,802,046.76. The disclosure for this sale can be found here. Insiders own 33.67% of the company's stock.

Rocket Pharmaceuticals Profile

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Rocket Pharmaceuticals, Inc is a clinical-stage biotechnology company, which engages in the development of gene therapy treatment options for rare and devastating pediatric diseases. Its multi-platform development approach applies the lentiviral vector and adeno-associated viral vector gene therapy platforms.

Further Reading

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