Ovata Capital Management Ltd Acquires New Stake in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Ovata Capital Management Ltd bought a new position in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 200,000 shares of the biotechnology company’s stock, valued at approximately $2,514,000. Rocket Pharmaceuticals makes up approximately 1.0% of Ovata Capital Management Ltd’s portfolio, making the stock its 21st biggest holding.

Other institutional investors have also recently modified their holdings of the company. Signaturefd LLC boosted its stake in Rocket Pharmaceuticals by 319.8% in the 4th quarter. Signaturefd LLC now owns 4,916 shares of the biotechnology company’s stock worth $62,000 after purchasing an additional 3,745 shares in the last quarter. Harbour Investments Inc. lifted its stake in shares of Rocket Pharmaceuticals by 51.9% in the fourth quarter. Harbour Investments Inc. now owns 5,385 shares of the biotechnology company’s stock worth $68,000 after buying an additional 1,840 shares in the last quarter. KBC Group NV grew its holdings 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 buying an additional 3,366 shares during the last quarter. E Fund Management Co. Ltd. purchased a new position in Rocket Pharmaceuticals in the 4th quarter worth approximately $139,000. Finally, Strategic Financial Concepts LLC bought a new position in Rocket Pharmaceuticals in the 4th quarter valued at approximately $141,000. 98.39% of the stock is owned by hedge funds and other institutional investors.

Rocket Pharmaceuticals Price Performance

NASDAQ RCKT opened at $5.12 on Friday. The business’s fifty day moving average is $9.16 and its 200 day moving average is $12.82. Rocket Pharmaceuticals, Inc. has a fifty-two week low of $5.10 and a fifty-two week high of $26.98. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.05 and a current ratio of 6.05. The company has a market capitalization of $545.95 million, a PE ratio of -1.86 and a beta of 1.00.

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

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Needham & Company LLC reduced their target price on Rocket Pharmaceuticals from $52.00 to $42.00 and set a “buy” rating for the company in a report on Friday, February 28th. Scotiabank boosted their target price on Rocket Pharmaceuticals from $51.00 to $52.00 and gave the stock a “sector outperform” rating in a research report on Monday, March 3rd. The Goldman Sachs Group dropped their price target on shares of Rocket Pharmaceuticals from $29.00 to $15.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. Jefferies Financial Group started coverage on shares of Rocket Pharmaceuticals in a report on Wednesday, December 18th. They set a “buy” rating and a $29.00 price objective for the company. Finally, Wedbush began coverage on shares of Rocket Pharmaceuticals in a report on Monday, December 30th. They issued an “outperform” rating and a $32.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $43.00.

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.