Ieq Capital LLC Buys Shares of 440,255 Rocket Pharmaceuticals, Inc. $RCKT

Ieq Capital LLC acquired a new stake in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 440,255 shares of the biotechnology company’s stock, valued at approximately $1,506,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Barclays PLC grew its stake in shares of Rocket Pharmaceuticals by 2.4% in the fourth quarter. Barclays PLC now owns 153,049 shares of the biotechnology company’s stock worth $537,000 after purchasing an additional 3,656 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its stake in Rocket Pharmaceuticals by 94.4% during the second quarter. CANADA LIFE ASSURANCE Co now owns 12,202 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 5,926 shares during the period. Sanctuary Advisors LLC increased its stake in shares of Rocket Pharmaceuticals by 63.5% in the 4th quarter. Sanctuary Advisors LLC now owns 17,437 shares of the biotechnology company’s stock valued at $61,000 after acquiring an additional 6,769 shares in the last quarter. Rice Hall James & Associates LLC lifted its position in shares of Rocket Pharmaceuticals by 8.1% during the 1st quarter. Rice Hall James & Associates LLC now owns 91,887 shares of the biotechnology company’s stock valued at $329,000 after acquiring an additional 6,900 shares during the period. Finally, Quadrant Capital Group LLC lifted its position in shares of Rocket Pharmaceuticals by 44.0% during the 4th quarter. Quadrant Capital Group LLC now owns 23,096 shares of the biotechnology company’s stock valued at $81,000 after acquiring an additional 7,056 shares during the period. 98.39% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Rocket Pharmaceuticals news, COO Christopher James Stevens sold 36,658 shares of the company’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $3.50, for a total value of $128,303.00. Following the transaction, the chief operating officer directly owned 505,784 shares in the company, valued at $1,770,244. This represents a 6.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 50,613 shares of company stock valued at $176,035. 21.30% of the stock is owned by corporate insiders.

Rocket Pharmaceuticals Trading Down 3.2%

Shares of RCKT opened at $3.66 on Thursday. Rocket Pharmaceuticals, Inc. has a twelve month low of $2.53 and a twelve month high of $5.45. The stock has a market cap of $401.79 million, a PE ratio of -21.53 and a beta of 0.47. The company has a quick ratio of 9.24, a current ratio of 9.24 and a debt-to-equity ratio of 0.05. The business’s 50-day moving average price is $3.51 and its 200-day moving average price is $3.61.

Rocket Pharmaceuticals (NASDAQ:RCKT) last released its quarterly earnings data on Monday, August 10th. The biotechnology company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.22. During the same quarter in the prior year, the business earned ($0.62) earnings per share. On average, equities analysts forecast that Rocket Pharmaceuticals, Inc. will post -1.39 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on RCKT. Wedbush cut their price objective on shares of Rocket Pharmaceuticals from $16.00 to $15.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 11th. Chardan Capital reiterated a “buy” rating and issued a $11.00 target price on shares of Rocket Pharmaceuticals in a report on Monday, May 11th. Wall Street Zen raised Rocket Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, August 17th. Finally, Weiss Ratings cut shares of Rocket Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $8.57.

About Rocket Pharmaceuticals

Rocket Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing gene therapies for rare, inherited pediatric diseases. The company employs a proprietary adeno-associated virus (AAV) and lentiviral vector platform to deliver functional copies of genes in patients with genetic deficiencies. Its programs target a spectrum of disorders, including Fanconi anemia, leukocyte adhesion deficiency type I and Danon disease, with the goal of delivering one-time treatments that address the underlying causes of disease rather than merely managing symptoms.

The company’s pipeline comprises multiple product candidates in various stages of development.