Deutsche Bank AG Increases Stake in Rocket Pharmaceuticals Inc (RCKT)

Deutsche Bank AG grew its holdings in Rocket Pharmaceuticals Inc (NASDAQ:RCKT) by 34.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 59,050 shares of the biotechnology company’s stock after acquiring an additional 14,998 shares during the quarter. Deutsche Bank AG’s holdings in Rocket Pharmaceuticals were worth $874,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in RCKT. Legal & General Group Plc raised its holdings in Rocket Pharmaceuticals by 23.3% during the fourth quarter. Legal & General Group Plc now owns 3,904 shares of the biotechnology company’s stock worth $58,000 after purchasing an additional 739 shares in the last quarter. Nisa Investment Advisors LLC purchased a new position in Rocket Pharmaceuticals during the fourth quarter worth about $79,000. Metropolitan Life Insurance Co. NY raised its holdings in Rocket Pharmaceuticals by 356.7% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 7,403 shares of the biotechnology company’s stock worth $110,000 after purchasing an additional 5,782 shares in the last quarter. Requisite Energy Fund I LP purchased a new position in Rocket Pharmaceuticals during the fourth quarter worth about $148,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in Rocket Pharmaceuticals by 54.5% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 10,199 shares of the biotechnology company’s stock worth $153,000 after purchasing an additional 3,598 shares in the last quarter. 83.71% of the stock is owned by institutional investors and hedge funds.

Several research analysts recently issued reports on RCKT shares. Oppenheimer started coverage on shares of Rocket Pharmaceuticals in a report on Tuesday, February 5th. They set an “outperform” rating and a $39.00 price target for the company. Bank of America initiated coverage on shares of Rocket Pharmaceuticals in a report on Friday, March 15th. They set a “buy” rating and a $27.00 price target for the company. Cowen initiated coverage on shares of Rocket Pharmaceuticals in a report on Tuesday, February 26th. They issued an “outperform” rating for the company. CIBC initiated coverage on shares of Rocket Pharmaceuticals in a report on Tuesday, February 5th. They issued an “outperform” rating and a $39.00 target price for the company. Finally, Robert W. Baird initiated coverage on shares of Rocket Pharmaceuticals in a report on Monday, April 22nd. They issued an “outperform” rating for the company. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $29.67.

In other news, insider Gaurav Shah sold 74,900 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $17.17, for a total value of $1,286,033.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Rtw Investments, Lp purchased 550,005 shares of the stock in a transaction dated Tuesday, April 16th. The stock was acquired at an average price of $17.50 per share, for a total transaction of $9,625,087.50. The disclosure for this purchase can be found here. Company insiders own 47.67% of the company’s stock.

Shares of Rocket Pharmaceuticals stock opened at $17.22 on Thursday. Rocket Pharmaceuticals Inc has a 12-month low of $10.75 and a 12-month high of $25.96. The company has a debt-to-equity ratio of 0.25, a current ratio of 9.70 and a quick ratio of 9.70. The stock has a market capitalization of $865.98 million, a price-to-earnings ratio of -9.11 and a beta of 3.06.

Rocket Pharmaceuticals (NASDAQ:RCKT) last issued its earnings results on Wednesday, May 8th. The biotechnology company reported ($0.43) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.63) by $0.20. As a group, sell-side analysts predict that Rocket Pharmaceuticals Inc will post -2.38 earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: This article was originally reported by Stock Observer and is owned by of Stock Observer. If you are accessing this article on another website, it was illegally copied and republished in violation of U.S. and international copyright and trademark law. The original version of this article can be accessed at https://www.thestockobserver.com/2019/05/16/deutsche-bank-ag-increases-stake-in-rocket-pharmaceuticals-inc-rckt.html.

Rocket Pharmaceuticals Company Profile

Rocket Pharmaceuticals, Inc, together with its subsidiaries, operates as a multi-platform biotechnology company that focuses on developing gene therapies for rare and devastating pediatric diseases. It has clinical-stage lentiviral vector (LVV) programs under clinical testing to treat fanconi anemia, a genetic defect in the bone marrow that reduces production of blood cells or promotes the production of faulty blood cells; and leukocyte adhesion deficiency-I, a genetic disorder that causes the immune system to malfunction It also has additional pre-clinical stage LVV programs include pyruvate kinase deficiency, a rare red blood cell autosomal recessive disorder that results in chronic non-spherocytic hemolytic anemia; and infantile malignant osteopetrosis, a genetic disorder characterized by increased bone density and bone mass secondary to impaired bone resorption.

Featured Article: The benefits and drawbacks of dollar cost averaging

Want to see what other hedge funds are holding RCKT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rocket Pharmaceuticals Inc (NASDAQ:RCKT).

Institutional Ownership by Quarter for Rocket Pharmaceuticals (NASDAQ:RCKT)

Receive News & Ratings for Rocket Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rocket Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.