Schwab Charles Investment Management Inc. Invests $831,000 in Rocket Pharmaceuticals Inc (RCKT)

Schwab Charles Investment Management Inc. acquired a new stake in Rocket Pharmaceuticals Inc (NASDAQ:RCKT) in the second quarter, HoldingsChannel.com reports. The fund acquired 42,299 shares of the biotechnology company’s stock, valued at approximately $831,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Highbridge Capital Management LLC bought a new stake in shares of Rocket Pharmaceuticals during the 1st quarter worth about $4,688,000. A.R.T. Advisors LLC bought a new stake in shares of Rocket Pharmaceuticals during the 1st quarter worth about $1,847,000. BlackRock Inc. bought a new stake in shares of Rocket Pharmaceuticals during the 1st quarter worth about $1,567,000. Bank of New York Mellon Corp boosted its holdings in shares of Rocket Pharmaceuticals by 534.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 70,451 shares of the biotechnology company’s stock worth $1,383,000 after buying an additional 59,354 shares during the period. Finally, Alps Advisors Inc. bought a new stake in shares of Rocket Pharmaceuticals during the 2nd quarter worth about $1,122,000. 84.76% of the stock is owned by institutional investors.

NASDAQ RCKT opened at $21.45 on Thursday. The company has a quick ratio of 13.27, a current ratio of 13.27 and a debt-to-equity ratio of 0.25. Rocket Pharmaceuticals Inc has a 12-month low of $7.84 and a 12-month high of $25.96.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its quarterly earnings data on Wednesday, August 8th. The biotechnology company reported ($0.40) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.36) by ($0.04). Equities research analysts predict that Rocket Pharmaceuticals Inc will post -1.75 EPS for the current fiscal year.

Several analysts recently commented on the stock. Zacks Investment Research raised shares of Rocket Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, October 6th. William Blair assumed coverage on shares of Rocket Pharmaceuticals in a report on Tuesday, July 10th. They set an “outperform” rating for the company. Finally, LADENBURG THALM/SH SH assumed coverage on shares of Rocket Pharmaceuticals in a report on Thursday, September 13th. They set a “buy” rating and a $30.00 target price for the company. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $28.50.

About Rocket Pharmaceuticals

Rocket Pharmaceuticals, Inc, together with its subsidiaries, operates as a multi-platform biotechnology company that focuses on developing gene therapies for rare and devastating pediatric diseases. It has two lentiviral vector (LVV) programs under clinical testing to treat fanconi anemia, a genetic defect in the bone marrow that reduces production of blood cells; and three LVV programs for the treatment of other rare genetic diseases, as well as an adeno-associated viral vector program, which is under preclinical development.

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Institutional Ownership by Quarter for Rocket Pharmaceuticals (NASDAQ:RCKT)

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