Harbour Investments Inc. Acquires 1,840 Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Harbour Investments Inc. lifted its holdings in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 51.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 5,385 shares of the biotechnology company’s stock after acquiring an additional 1,840 shares during the period. Harbour Investments Inc.’s holdings in Rocket Pharmaceuticals were worth $68,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. KBC Group NV increased its position in shares of Rocket Pharmaceuticals by 159.6% during the fourth quarter. KBC Group NV now owns 5,475 shares of the biotechnology company’s stock valued at $69,000 after acquiring an additional 3,366 shares during the last quarter. E Fund Management Co. Ltd. purchased a new stake in shares of Rocket Pharmaceuticals during the fourth quarter valued at approximately $139,000. Strategic Financial Concepts LLC purchased a new stake in shares of Rocket Pharmaceuticals during the fourth quarter valued at approximately $141,000. Thompson Siegel & Walmsley LLC purchased a new stake in shares of Rocket Pharmaceuticals during the fourth quarter valued at approximately $160,000. Finally, Private Advisor Group LLC purchased a new stake in shares of Rocket Pharmaceuticals during the fourth quarter valued at approximately $166,000. 98.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on RCKT shares. Wedbush started coverage on Rocket Pharmaceuticals in a research report on Monday, December 30th. They set an “outperform” rating and a $32.00 price target for the company. Chardan Capital decreased their price target on Rocket Pharmaceuticals from $62.00 to $54.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Canaccord Genuity Group reduced their price objective on Rocket Pharmaceuticals from $39.00 to $36.00 and set a “buy” rating for the company in a report on Monday, March 3rd. BMO Capital Markets initiated coverage on Rocket Pharmaceuticals in a report on Wednesday, March 12th. They set an “outperform” rating and a $50.00 price objective for the company. Finally, Jefferies Financial Group initiated coverage on Rocket Pharmaceuticals in a report on Wednesday, December 18th. They set a “buy” rating and a $29.00 price objective for the company. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $43.00.

Rocket Pharmaceuticals Price Performance

NASDAQ:RCKT opened at $8.43 on Monday. The firm has a market capitalization of $898.89 million, a price-to-earnings ratio of -3.07 and a beta of 1.03. Rocket Pharmaceuticals, Inc. has a 52-week low of $8.06 and a 52-week high of $27.71. The stock has a fifty day moving average of $9.87 and a 200 day moving average of $13.59. 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 (NASDAQ:RCKT) last posted its quarterly earnings data on Monday, March 3rd. The biotechnology company reported ($0.62) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.68) by $0.06. On average, research analysts expect that Rocket Pharmaceuticals, Inc. will post -2.83 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.