Mirae Asset Global Investments Co. Ltd. boosted its stake in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 116.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 136,078 shares of the biotechnology company’s stock after purchasing an additional 73,124 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.22% of Rocket Pharmaceuticals worth $6,038,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the stock. Meeder Asset Management Inc. bought a new position in shares of Rocket Pharmaceuticals during the first quarter valued at $30,000. Pacer Advisors Inc. raised its stake in shares of Rocket Pharmaceuticals by 47.2% during the first quarter. Pacer Advisors Inc. now owns 1,447 shares of the biotechnology company’s stock valued at $64,000 after acquiring an additional 464 shares during the last quarter. Penserra Capital Management LLC raised its stake in shares of Rocket Pharmaceuticals by 170.1% during the fourth quarter. Penserra Capital Management LLC now owns 1,275 shares of the biotechnology company’s stock valued at $69,000 after acquiring an additional 803 shares during the last quarter. Ikarian Capital LLC bought a new position in shares of Rocket Pharmaceuticals during the fourth quarter valued at $75,000. Finally, First Mercantile Trust Co. bought a new position in shares of Rocket Pharmaceuticals during the fourth quarter valued at $90,000. 97.35% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ RCKT opened at $43.50 on Friday. The firm has a market capitalization of $2.76 billion, a PE ratio of -16.05 and a beta of 1.85. The firm’s 50-day simple moving average is $43.49. Rocket Pharmaceuticals, Inc. has a 1 year low of $19.91 and a 1 year high of $67.48. The company has a debt-to-equity ratio of 0.11, a current ratio of 11.65 and a quick ratio of 11.65.
In related news, Director Rtw Investments, Lp sold 725,000 shares of the firm’s stock in a transaction dated Tuesday, May 11th. The shares were sold at an average price of $40.03, for a total transaction of $29,021,750.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 36.50% of the stock is owned by company insiders.
RCKT has been the subject of several analyst reports. Stifel Nicolaus initiated coverage on shares of Rocket Pharmaceuticals in a research note on Monday, March 1st. They set a “buy” rating and a $64.00 price target for the company. SVB Leerink increased their price objective on shares of Rocket Pharmaceuticals from $61.00 to $66.00 and gave the stock an “outperform” rating in a research report on Thursday, April 1st. Finally, Zacks Investment Research upgraded shares of Rocket Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Thursday, April 29th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $56.50.
Rocket Pharmaceuticals Profile
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 four 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; pyruvate kinase deficiency, a rare red blood cell autosomal recessive disorder that results in chronic non-spherocytic hemolytic anemia; and infantile malignant osteopetrosis, a genetic disorder characterized by increased bone density and bone mass secondary to impaired bone resorption.
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