Corton Capital Inc. Buys New Shares in Rocket Pharmaceuticals, Inc. $RCKT

Corton Capital Inc. bought a new stake in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 15,495 shares of the biotechnology company’s stock, valued at approximately $38,000.

Several other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Rocket Pharmaceuticals by 0.6% in the first quarter. Vanguard Group Inc. now owns 6,617,784 shares of the biotechnology company’s stock valued at $44,141,000 after buying an additional 40,189 shares during the period. Westfield Capital Management Co. LP lifted its stake in shares of Rocket Pharmaceuticals by 2.3% in the first quarter. Westfield Capital Management Co. LP now owns 4,820,701 shares of the biotechnology company’s stock valued at $32,154,000 after buying an additional 106,091 shares during the period. MPM Bioimpact LLC lifted its stake in shares of Rocket Pharmaceuticals by 58.6% in the first quarter. MPM Bioimpact LLC now owns 1,618,265 shares of the biotechnology company’s stock valued at $10,794,000 after buying an additional 597,706 shares during the period. Baker BROS. Advisors LP lifted its stake in shares of Rocket Pharmaceuticals by 1,030.1% in the first quarter. Baker BROS. Advisors LP now owns 1,097,079 shares of the biotechnology company’s stock valued at $7,318,000 after buying an additional 1,000,000 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Rocket Pharmaceuticals by 24.0% in the first quarter. Goldman Sachs Group Inc. now owns 995,690 shares of the biotechnology company’s stock valued at $6,641,000 after buying an additional 192,905 shares during the period. Institutional investors own 98.39% of the company’s stock.

Insider Activity

In other news, insider John Militello sold 28,918 shares of Rocket Pharmaceuticals stock in a transaction that occurred on Tuesday, October 14th. The shares were sold at an average price of $3.96, for a total value of $114,515.28. Following the completion of the transaction, the insider owned 67,006 shares in the company, valued at approximately $265,343.76. The trade was a 30.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jonathan David Schwartz sold 11,161 shares of Rocket Pharmaceuticals stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $3.02, for a total transaction of $33,706.22. Following the completion of the transaction, the insider owned 224,094 shares of the company’s stock, valued at $676,763.88. This trade represents a 4.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 64,368 shares of company stock worth $221,675. 24.76% of the stock is currently owned by insiders.

Rocket Pharmaceuticals Stock Up 0.9%

Shares of RCKT opened at $3.32 on Thursday. Rocket Pharmaceuticals, Inc. has a 12 month low of $2.19 and a 12 month high of $18.17. The company has a 50-day moving average price of $3.44 and a two-hundred day moving average price of $3.86. The company has a quick ratio of 6.39, a current ratio of 6.39 and a debt-to-equity ratio of 0.05. The stock has a market cap of $358.24 million, a price-to-earnings ratio of -1.32 and a beta of 0.60.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its earnings results on Thursday, August 7th. The biotechnology company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.02). During the same quarter in the prior year, the company posted ($0.74) EPS. Equities analysts predict that Rocket Pharmaceuticals, Inc. will post -2.83 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

RCKT has been the subject of several research reports. Chardan Capital reiterated a “buy” rating and issued a $11.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday, October 14th. Bank of America upgraded shares of Rocket Pharmaceuticals from a “neutral” rating to a “buy” rating and increased their target price for the company from $4.00 to $10.00 in a research note on Wednesday, August 20th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Rocket Pharmaceuticals in a research note on Wednesday, October 8th. Needham & Company LLC restated a “hold” rating on shares of Rocket Pharmaceuticals in a research note on Thursday, July 24th. Finally, Leerink Partners cut their price target on shares of Rocket Pharmaceuticals from $9.00 to $7.00 and set a “market perform” rating for the company in a research note on Friday, October 3rd. Eight equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Rocket Pharmaceuticals has an average rating of “Hold” and an average target price of $16.67.

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.