Zurcher Kantonalbank Zurich Cantonalbank Acquires 3,995 Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 30.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,092 shares of the biotechnology company’s stock after acquiring an additional 3,995 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Rocket Pharmaceuticals were worth $368,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of RCKT. Goldman Sachs Group Inc. grew its stake in Rocket Pharmaceuticals by 12.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 594,665 shares of the biotechnology company’s stock valued at $17,822,000 after buying an additional 64,946 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of Rocket Pharmaceuticals by 4.1% in the 1st quarter. Russell Investments Group Ltd. now owns 675,769 shares of the biotechnology company’s stock worth $18,205,000 after acquiring an additional 26,823 shares during the period. Franklin Resources Inc. grew its holdings in shares of Rocket Pharmaceuticals by 60.8% during the 4th quarter. Franklin Resources Inc. now owns 1,072,910 shares of the biotechnology company’s stock worth $32,155,000 after purchasing an additional 405,855 shares in the last quarter. Avidity Partners Management LP increased its position in shares of Rocket Pharmaceuticals by 8.3% during the fourth quarter. Avidity Partners Management LP now owns 1,719,103 shares of the biotechnology company’s stock valued at $51,522,000 after purchasing an additional 131,674 shares during the period. Finally, Virtu Financial LLC bought a new position in Rocket Pharmaceuticals in the fourth quarter worth $332,000. Institutional investors and hedge funds own 98.39% of the company’s stock.

Insider Activity

In related news, insider Mark Andrew White sold 3,026 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $20.39, for a total value of $61,700.14. Following the transaction, the insider now owns 72,220 shares in the company, valued at $1,472,565.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 31.10% of the company’s stock.

Analyst Upgrades and Downgrades

RCKT has been the subject of a number of recent research reports. Chardan Capital restated a “buy” rating and issued a $62.00 price objective on shares of Rocket Pharmaceuticals in a research note on Tuesday, August 6th. JPMorgan Chase & Co. raised their price target on shares of Rocket Pharmaceuticals from $50.00 to $54.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. Needham & Company LLC reiterated a “buy” rating and issued a $52.00 price objective on shares of Rocket Pharmaceuticals in a research note on Tuesday, August 6th. Canaccord Genuity Group cut their target price on Rocket Pharmaceuticals from $49.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $65.00 price target on shares of Rocket Pharmaceuticals in a research report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $51.75.

Rocket Pharmaceuticals Stock Down 0.1 %

Shares of NASDAQ:RCKT opened at $18.51 on Friday. The company has a quick ratio of 7.79, a current ratio of 7.79 and a debt-to-equity ratio of 0.05. The firm has a market cap of $1.68 billion, a P/E ratio of -6.45 and a beta of 1.13. Rocket Pharmaceuticals, Inc. has a 12 month low of $15.27 and a 12 month high of $32.53. The company’s 50-day moving average price is $20.77 and its two-hundred day moving average price is $23.15.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its earnings results on Monday, August 5th. The biotechnology company reported ($0.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.02). During the same period in the prior year, the business posted ($0.82) EPS. As a group, research analysts forecast that Rocket Pharmaceuticals, Inc. will post -2.97 EPS for the current fiscal year.

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.