Quinn Opportunity Partners LLC Takes Position in Rocket Pharmaceuticals, Inc. $RCKT

Quinn Opportunity Partners LLC bought a new stake in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 100,000 shares of the biotechnology company’s stock, valued at approximately $245,000. Quinn Opportunity Partners LLC owned about 0.09% of Rocket Pharmaceuticals at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Farther Finance Advisors LLC increased its stake in Rocket Pharmaceuticals by 7,818.1% in the 2nd quarter. Farther Finance Advisors LLC now owns 13,540 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 13,369 shares during the period. Corton Capital Inc. bought a new position in shares of Rocket Pharmaceuticals in the second quarter worth approximately $38,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Rocket Pharmaceuticals in the second quarter worth approximately $43,000. PFG Investments LLC increased its stake in shares of Rocket Pharmaceuticals by 35.1% in the second quarter. PFG Investments LLC now owns 18,100 shares of the biotechnology company’s stock worth $44,000 after buying an additional 4,700 shares during the period. Finally, Savant Capital LLC bought a new stake in Rocket Pharmaceuticals during the 2nd quarter valued at $46,000. 98.39% of the stock is currently owned by hedge funds and other institutional investors.

Rocket Pharmaceuticals Trading Up 1.2%

Shares of NASDAQ RCKT opened at $3.30 on Thursday. The stock has a market cap of $357.13 million, a P/E ratio of -1.31 and a beta of 0.70. The company has a debt-to-equity ratio of 0.05, a current ratio of 6.39 and a quick ratio of 6.39. Rocket Pharmaceuticals, Inc. has a 1 year low of $2.19 and a 1 year high of $16.64. The firm has a 50-day moving average of $3.43 and a 200 day moving average of $3.72.

Rocket Pharmaceuticals (NASDAQ:RCKT) last released its earnings results on Thursday, November 6th. The biotechnology company reported ($0.45) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.48) by $0.03. During the same quarter in the previous year, the business earned ($0.71) EPS. As a group, sell-side analysts expect that Rocket Pharmaceuticals, Inc. will post -2.83 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider John Militello sold 28,918 shares of the firm’s stock in a transaction on Tuesday, October 14th. The stock was sold at an average price of $3.96, for a total transaction of $114,515.28. Following the completion of the transaction, the insider directly owned 67,006 shares in the company, valued at $265,343.76. This trade represents a 30.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Elisabeth Bjork acquired 10,000 shares of Rocket Pharmaceuticals stock in a transaction on Wednesday, August 27th. The shares were purchased at an average price of $3.41 per share, with a total value of $34,100.00. Following the completion of the purchase, the director owned 40,000 shares in the company, valued at $136,400. This represents a 33.33% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders sold 34,055 shares of company stock worth $130,129. Insiders own 24.76% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on RCKT. Cantor Fitzgerald cut their price target on shares of Rocket Pharmaceuticals from $10.00 to $8.00 and set an “overweight” rating on the stock in a report on Friday, August 8th. Wedbush reaffirmed an “outperform” rating and set a $16.00 price objective on shares of Rocket Pharmaceuticals in a research note on Friday, November 7th. Weiss Ratings reissued a “sell (e+)” rating on shares of Rocket Pharmaceuticals in a research note on Wednesday, October 8th. Needham & Company LLC restated a “hold” rating on shares of Rocket Pharmaceuticals in a report on Thursday, July 24th. Finally, Leerink Partners lowered their price target on Rocket Pharmaceuticals from $9.00 to $7.00 and set a “market perform” rating for the company in a research report on Friday, October 3rd. Eight investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Rocket Pharmaceuticals presently has a consensus rating of “Hold” and an average price target of $15.60.

Rocket Pharmaceuticals 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.