Ovata Capital Management Ltd Buys Shares of 200,000 Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Ovata Capital Management Ltd purchased a new position in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 200,000 shares of the biotechnology company’s stock, valued at approximately $2,514,000. Rocket Pharmaceuticals comprises about 1.0% of Ovata Capital Management Ltd’s holdings, making the stock its 21st largest holding. Ovata Capital Management Ltd owned about 0.22% of Rocket Pharmaceuticals at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Signaturefd LLC raised its position in Rocket Pharmaceuticals by 319.8% during the fourth quarter. Signaturefd LLC now owns 4,916 shares of the biotechnology company’s stock valued at $62,000 after purchasing an additional 3,745 shares in the last quarter. Harbour Investments Inc. lifted its position in Rocket Pharmaceuticals by 51.9% in the 4th 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 during the last quarter. KBC Group NV boosted its stake in Rocket Pharmaceuticals by 159.6% in the fourth quarter. KBC Group NV now owns 5,475 shares of the biotechnology company’s stock worth $69,000 after buying an additional 3,366 shares in the last quarter. E Fund Management Co. Ltd. bought a new position in Rocket Pharmaceuticals during the fourth quarter valued at approximately $139,000. Finally, Strategic Financial Concepts LLC purchased a new position in shares of Rocket Pharmaceuticals during the fourth quarter worth approximately $141,000. Hedge funds and other institutional investors own 98.39% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Jefferies Financial Group began coverage on shares of Rocket Pharmaceuticals in a report on Wednesday, December 18th. They set a “buy” rating and a $29.00 target price on the stock. Chardan Capital decreased their price objective on Rocket Pharmaceuticals from $62.00 to $54.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Scotiabank increased their target price on Rocket Pharmaceuticals from $51.00 to $52.00 and gave the company a “sector outperform” rating in a report on Monday, March 3rd. Wedbush began coverage on Rocket Pharmaceuticals in a research note on Monday, December 30th. They issued an “outperform” rating and a $32.00 price target on the stock. Finally, The Goldman Sachs Group dropped their price objective on Rocket Pharmaceuticals from $29.00 to $15.00 and set a “neutral” rating for the company in a research note on Monday, March 3rd. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Rocket Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Rocket Pharmaceuticals Stock Performance

Rocket Pharmaceuticals stock opened at $5.12 on Friday. Rocket Pharmaceuticals, Inc. has a fifty-two week low of $5.10 and a fifty-two week high of $26.98. The stock’s 50 day simple moving average is $9.16 and its two-hundred day simple moving average is $12.82. 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 stock has a market cap of $545.95 million, a price-to-earnings ratio of -1.86 and a beta of 1.00.

Rocket Pharmaceuticals (NASDAQ:RCKT) last issued its quarterly 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. As a group, analysts expect that Rocket Pharmaceuticals, Inc. will post -2.83 earnings per share for the current fiscal year.

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.