Torray Investment Partners LLC Increases Stock Position in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Torray Investment Partners LLC grew its stake in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 66.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 122,095 shares of the biotechnology company’s stock after buying an additional 48,671 shares during the period. Torray Investment Partners LLC’s holdings in Rocket Pharmaceuticals were worth $1,535,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in RCKT. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Rocket Pharmaceuticals by 21.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,292 shares of the biotechnology company’s stock valued at $61,000 after buying an additional 582 shares during the period. Harbor Capital Advisors Inc. lifted its holdings in shares of Rocket Pharmaceuticals by 73.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 168,506 shares of the biotechnology company’s stock valued at $3,112,000 after acquiring an additional 71,372 shares in the last quarter. Privium Fund Management B.V. lifted its holdings in shares of Rocket Pharmaceuticals by 17.5% during the 3rd quarter. Privium Fund Management B.V. now owns 294,800 shares of the biotechnology company’s stock valued at $5,445,000 after acquiring an additional 43,820 shares in the last quarter. Pier 88 Investment Partners LLC lifted its holdings in shares of Rocket Pharmaceuticals by 5.1% during the 3rd quarter. Pier 88 Investment Partners LLC now owns 32,490 shares of the biotechnology company’s stock valued at $600,000 after acquiring an additional 1,590 shares in the last quarter. Finally, First Turn Management LLC lifted its holdings in shares of Rocket Pharmaceuticals by 10.8% during the 3rd quarter. First Turn Management LLC now owns 621,306 shares of the biotechnology company’s stock valued at $11,476,000 after acquiring an additional 60,317 shares in the last quarter. 98.39% of the stock is owned by hedge funds and other institutional investors.

Rocket Pharmaceuticals Stock Performance

Shares of Rocket Pharmaceuticals stock opened at $8.79 on Tuesday. The firm has a market cap of $801.27 million, a PE ratio of -3.20 and a beta of 0.98. The firm’s 50-day simple moving average is $10.89 and its 200-day simple moving average is $14.66. 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, Inc. has a 1 year low of $8.78 and a 1 year high of $30.94.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its quarterly earnings data on Monday, March 3rd. The biotechnology company reported ($0.62) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.06. Equities analysts forecast that Rocket Pharmaceuticals, Inc. will post -2.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $65.00 target price on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th. Leerink Partners cut their price objective on shares of Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating on the stock in a report on Tuesday, November 19th. The Goldman Sachs Group cut their price objective on shares of Rocket Pharmaceuticals from $29.00 to $15.00 and set a “neutral” rating on the stock in a report on Monday. Canaccord Genuity Group cut their price objective on shares of Rocket Pharmaceuticals from $39.00 to $36.00 and set a “buy” rating on the stock in a report on Monday. Finally, Scotiabank boosted their price objective on shares of Rocket Pharmaceuticals from $51.00 to $52.00 and gave the stock a “sector outperform” rating in a report on Monday. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $42.30.

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.