Aristides Capital LLC Purchases Shares of 17,400 Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Aristides Capital LLC acquired a new position in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 17,400 shares of the biotechnology company’s stock, valued at approximately $219,000.

Other large investors have also recently made changes to their positions in the company. Wellington Management Group LLP lifted its stake in Rocket Pharmaceuticals by 24.5% in the fourth quarter. Wellington Management Group LLP now owns 13,995,177 shares of the biotechnology company’s stock worth $175,919,000 after acquiring an additional 2,753,033 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Rocket Pharmaceuticals by 18.8% during the 4th quarter. Vanguard Group Inc. now owns 6,577,595 shares of the biotechnology company’s stock worth $82,680,000 after purchasing an additional 1,040,655 shares during the last quarter. State Street Corp grew its stake in shares of Rocket Pharmaceuticals by 11.6% during the third quarter. State Street Corp now owns 3,102,022 shares of the biotechnology company’s stock worth $57,294,000 after purchasing an additional 322,156 shares in the last quarter. Geode Capital Management LLC increased its holdings in Rocket Pharmaceuticals by 8.4% in the fourth quarter. Geode Capital Management LLC now owns 1,752,975 shares of the biotechnology company’s stock valued at $22,041,000 after buying an additional 135,109 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Rocket Pharmaceuticals by 15.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 656,090 shares of the biotechnology company’s stock valued at $8,247,000 after buying an additional 86,276 shares in the last quarter. 98.39% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on RCKT. Canaccord Genuity Group lowered their price objective on Rocket Pharmaceuticals from $39.00 to $36.00 and set a “buy” rating for the company 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 research note on Monday, March 3rd. BMO Capital Markets started coverage on shares of Rocket Pharmaceuticals in a report on Wednesday, March 12th. They set an “outperform” rating and a $50.00 price objective on the stock. Needham & Company LLC lowered their target price on shares of Rocket Pharmaceuticals from $52.00 to $42.00 and set a “buy” rating for the company in a report on Friday, February 28th. Finally, Chardan Capital cut their price target on shares of Rocket Pharmaceuticals from $62.00 to $54.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $43.00.

Rocket Pharmaceuticals Trading Down 7.9 %

Shares of Rocket Pharmaceuticals stock opened at $5.12 on Monday. 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 P/E ratio of -1.86 and a beta of 1.00. Rocket Pharmaceuticals, Inc. has a 1 year low of $4.87 and a 1 year high of $26.98. The company’s fifty day moving average is $9.16 and its two-hundred day moving average is $12.70.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its earnings results on Monday, March 3rd. The biotechnology company reported ($0.62) earnings per share for the quarter, topping the consensus estimate of ($0.68) by $0.06. Analysts forecast that Rocket Pharmaceuticals, Inc. will post -2.83 earnings per share for the current year.

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.