E Fund Management Co. Ltd. Takes $139,000 Position in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

E Fund Management Co. Ltd. acquired a new stake in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 11,054 shares of the biotechnology company’s stock, valued at approximately $139,000.

Several other hedge funds also recently made changes to their positions in the business. Raymond James Financial Inc. bought a new position in Rocket Pharmaceuticals during the 4th quarter worth $285,000. Dana Investment Advisors Inc. lifted its position in Rocket Pharmaceuticals by 17.5% during the fourth quarter. Dana Investment Advisors Inc. now owns 17,608 shares of the biotechnology company’s stock worth $221,000 after purchasing an additional 2,627 shares during the period. Arizona State Retirement System increased its holdings in Rocket Pharmaceuticals by 8.4% in the 4th quarter. Arizona State Retirement System now owns 19,826 shares of the biotechnology company’s stock valued at $249,000 after buying an additional 1,528 shares during the period. Torray Investment Partners LLC boosted its position in shares of Rocket Pharmaceuticals by 66.3% during the 4th quarter. Torray Investment Partners LLC now owns 122,095 shares of the biotechnology company’s stock worth $1,535,000 after acquiring an additional 48,671 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased 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 acquiring an additional 86,276 shares during the last quarter. 98.39% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RCKT. Wedbush assumed coverage on Rocket Pharmaceuticals in a report on Monday, December 30th. They issued an “outperform” rating and a $32.00 target price on the stock. Chardan Capital lowered their price objective on Rocket Pharmaceuticals from $62.00 to $54.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Canaccord Genuity Group dropped their price objective on shares of Rocket Pharmaceuticals from $39.00 to $36.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Cantor Fitzgerald reissued an “overweight” rating and set a $65.00 target price on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th. Finally, The Goldman Sachs Group decreased their price target on shares of Rocket Pharmaceuticals from $29.00 to $15.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Rocket Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $42.30.

Rocket Pharmaceuticals Price Performance

Shares of NASDAQ RCKT opened at $8.77 on Monday. The company has a quick ratio of 6.05, a current ratio of 6.05 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $935.15 million, a PE ratio of -3.19 and a beta of 1.03. The firm has a fifty day simple moving average of $10.61 and a 200 day simple moving average of $14.30. Rocket Pharmaceuticals, Inc. has a twelve month low of $8.25 and a twelve month high of $28.73.

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. On average, sell-side analysts forecast that Rocket Pharmaceuticals, Inc. will post -2.83 EPS 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.