Skandinaviska Enskilda Banken AB publ Invests $276,000 in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Skandinaviska Enskilda Banken AB publ purchased a new position in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 22,967 shares of the biotechnology company’s stock, valued at approximately $276,000.

Other hedge funds have also added to or reduced their stakes in the company. KBC Group NV raised its stake in Rocket Pharmaceuticals by 159.6% during the 4th 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 during the period. E Fund Management Co. Ltd. acquired a new stake in Rocket Pharmaceuticals during the 4th quarter worth $139,000. Strategic Financial Concepts LLC acquired a new stake in Rocket Pharmaceuticals during the 4th quarter worth $141,000. Private Advisor Group LLC acquired a new stake in shares of Rocket Pharmaceuticals in the 4th quarter valued at about $166,000. Finally, Dana Investment Advisors Inc. raised its stake in shares of Rocket Pharmaceuticals by 17.5% in the 4th quarter. Dana Investment Advisors Inc. now owns 17,608 shares of the biotechnology company’s stock valued at $221,000 after purchasing an additional 2,627 shares during the period. Institutional investors and hedge funds own 98.39% of the company’s stock.

Rocket Pharmaceuticals Trading Down 5.4 %

Rocket Pharmaceuticals stock opened at $8.35 on Wednesday. Rocket Pharmaceuticals, Inc. has a 52 week low of $8.06 and a 52 week high of $28.67. 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 capitalization of $890.36 million, a P/E ratio of -3.04 and a beta of 1.03. The stock has a 50-day simple moving average of $10.06 and a 200 day simple moving average of $13.79.

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

Analyst Upgrades and Downgrades

RCKT has been the topic of several recent research reports. Jefferies Financial Group initiated coverage on Rocket Pharmaceuticals in a research note on Wednesday, December 18th. They issued a “buy” rating and a $29.00 price target on the stock. Leerink Partners dropped their price target on Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 19th. The Goldman Sachs Group dropped their price target on Rocket Pharmaceuticals from $29.00 to $15.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. Canaccord Genuity Group dropped their price target on Rocket Pharmaceuticals from $39.00 to $36.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Finally, Scotiabank lifted their price target on Rocket Pharmaceuticals from $51.00 to $52.00 and gave the company a “sector outperform” rating in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target 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.