Tema Etfs LLC Buys New Position in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Tema Etfs LLC bought a new stake in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) in the fourth quarter, Holdings Channel reports. The fund bought 90,985 shares of the biotechnology company’s stock, valued at approximately $1,144,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. SG Americas Securities LLC grew its position in Rocket Pharmaceuticals by 796.2% in the 4th quarter. SG Americas Securities LLC now owns 54,921 shares of the biotechnology company’s stock valued at $690,000 after buying an additional 48,793 shares in the last quarter. Jennison Associates LLC boosted its position in shares of Rocket Pharmaceuticals by 72.6% during the 4th quarter. Jennison Associates LLC now owns 70,304 shares of the biotechnology company’s stock valued at $884,000 after purchasing an additional 29,564 shares in the last quarter. Sovran Advisors LLC bought a new position in shares of Rocket Pharmaceuticals during the 4th quarter valued at about $1,895,000. Raymond James Financial Inc. bought a new position in shares of Rocket Pharmaceuticals during the 4th quarter valued at about $285,000. Finally, Strategic Financial Concepts LLC bought a new position in shares of Rocket Pharmaceuticals during the 4th quarter valued at about $141,000. Institutional investors own 98.39% of the company’s stock.

Wall Street Analyst Weigh In

RCKT has been the subject of several research reports. JPMorgan Chase & Co. reduced their price objective on shares of Rocket Pharmaceuticals from $45.00 to $44.00 and set an “overweight” rating for the company in a research report on Friday, May 9th. BMO Capital Markets assumed coverage on shares of Rocket Pharmaceuticals in a report on Wednesday, March 12th. They issued an “outperform” rating and a $50.00 target price for the company. Wedbush reiterated an “outperform” rating and issued a $32.00 target price on shares of Rocket Pharmaceuticals in a report on Friday. The Goldman Sachs Group decreased their target price on shares of Rocket Pharmaceuticals from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Friday, May 9th. Finally, Scotiabank reduced their price target on shares of Rocket Pharmaceuticals from $52.00 to $51.00 and set a “sector outperform” rating for the company in a research report on Monday, May 12th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Rocket Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $37.73.

Rocket Pharmaceuticals Price Performance

Shares of RCKT opened at $6.50 on Friday. The firm has a market cap of $694.11 million, a PE ratio of -2.36 and a beta of 1.02. The firm’s 50 day moving average price is $6.93 and its 200 day moving average price is $10.28. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.05 and a current ratio of 6.05. Rocket Pharmaceuticals, Inc. has a twelve month low of $4.55 and a twelve month high of $26.98.

Rocket Pharmaceuticals (NASDAQ:RCKT) last issued its quarterly earnings data on Tuesday, May 13th. The biotechnology company reported ($0.56) earnings per share for the quarter, beating the consensus estimate of ($0.58) by $0.02. During the same quarter in the prior year, the business posted ($0.66) EPS. As a group, research analysts expect that Rocket Pharmaceuticals, Inc. will post -2.83 EPS for the current fiscal year.

Insider Activity at Rocket Pharmaceuticals

In other Rocket Pharmaceuticals news, CFO Aaron Ondrey sold 7,489 shares of the stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $5.29, for a total transaction of $39,616.81. Following the transaction, the chief financial officer now owns 129,650 shares in the company, valued at $685,848.50. This trade represents a 5.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Gaurav Shah purchased 20,000 shares of the stock in a transaction on Thursday, April 10th. The shares were bought at an average price of $5.08 per share, for a total transaction of $101,600.00. Following the acquisition, the chief executive officer now owns 792,680 shares of the company’s stock, valued at approximately $4,026,814.40. The trade was a 2.59% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 24.76% of the company’s stock.

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.