TD Asset Management Inc Buys 23,000 Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

TD Asset Management Inc raised its stake in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 14.8% in the second quarter, Holdings Channel reports. The fund owned 178,164 shares of the biotechnology company’s stock after purchasing an additional 23,000 shares during the quarter. TD Asset Management Inc’s holdings in Rocket Pharmaceuticals were worth $3,836,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Rhumbline Advisers lifted its holdings in shares of Rocket Pharmaceuticals by 5.2% in the second quarter. Rhumbline Advisers now owns 101,134 shares of the biotechnology company’s stock worth $2,177,000 after acquiring an additional 4,958 shares during the last quarter. Privium Fund Management B.V. lifted its holdings in shares of Rocket Pharmaceuticals by 6.8% in the second quarter. Privium Fund Management B.V. now owns 250,980 shares of the biotechnology company’s stock worth $4,964,000 after acquiring an additional 15,930 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Rocket Pharmaceuticals by 30.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,092 shares of the biotechnology company’s stock worth $368,000 after acquiring an additional 3,995 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Rocket Pharmaceuticals by 10.4% in the second quarter. Bank of New York Mellon Corp now owns 239,877 shares of the biotechnology company’s stock worth $5,165,000 after acquiring an additional 22,521 shares during the last quarter. Finally, EFG Asset Management North America Corp. lifted its holdings in shares of Rocket Pharmaceuticals by 47.0% in the second quarter. EFG Asset Management North America Corp. now owns 222,046 shares of the biotechnology company’s stock worth $4,780,000 after acquiring an additional 71,044 shares during the last quarter. Institutional investors own 98.39% of the company’s stock.

Rocket Pharmaceuticals Stock Performance

Shares of RCKT stock opened at $19.03 on Thursday. The company has a market cap of $1.73 billion, a price-to-earnings ratio of -6.63 and a beta of 1.10. Rocket Pharmaceuticals, Inc. has a 52 week low of $15.27 and a 52 week high of $32.53. 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 50 day moving average of $20.75 and a 200-day moving average of $22.98.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its quarterly earnings data on Monday, August 5th. The biotechnology company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.02). During the same period in the prior year, the business earned ($0.82) EPS. On average, equities analysts forecast that Rocket Pharmaceuticals, Inc. will post -2.97 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Mark Andrew White sold 3,026 shares of the stock in a transaction on 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 directly owns 72,220 shares in the company, valued at approximately $1,472,565.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 31.10% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. upped their price objective on Rocket Pharmaceuticals from $50.00 to $54.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $65.00 price objective on shares of Rocket Pharmaceuticals in a research note on Tuesday, August 6th. Needham & Company LLC reaffirmed 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 lowered their price objective on Rocket Pharmaceuticals from $49.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Finally, William Blair reaffirmed an “outperform” rating on shares of Rocket Pharmaceuticals in a research note on Monday, June 3rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $51.75.

About Rocket Pharmaceuticals

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.