Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Shares Purchased by Synovus Financial Corp

Synovus Financial Corp increased its position in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 71.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 163,893 shares of the biotechnology company’s stock after acquiring an additional 68,389 shares during the quarter. Synovus Financial Corp’s holdings in Rocket Pharmaceuticals were worth $2,060,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in RCKT. State Street Corp boosted its stake in Rocket Pharmaceuticals by 11.6% in the 3rd quarter. State Street Corp now owns 3,102,022 shares of the biotechnology company’s stock worth $57,294,000 after buying an additional 322,156 shares during the last quarter. XTX Topco Ltd purchased a new stake in Rocket Pharmaceuticals in the third quarter valued at approximately $286,000. Geode Capital Management LLC increased its position in Rocket Pharmaceuticals by 0.9% during the third quarter. Geode Capital Management LLC now owns 1,617,866 shares of the biotechnology company’s stock worth $29,888,000 after purchasing an additional 14,256 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in Rocket Pharmaceuticals by 7.4% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 237,499 shares of the biotechnology company’s stock worth $2,985,000 after purchasing an additional 16,453 shares during the period. Finally, Mirador Capital Partners LP raised its position in shares of Rocket Pharmaceuticals by 403.9% in the 4th quarter. Mirador Capital Partners LP now owns 84,529 shares of the biotechnology company’s stock worth $1,063,000 after buying an additional 67,755 shares during the period. Institutional investors and hedge funds own 98.39% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on RCKT shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $42.00 price objective on shares of Rocket Pharmaceuticals in a research note on Wednesday, April 9th. Wedbush started coverage on shares of Rocket Pharmaceuticals in a research note on Monday, December 30th. They issued an “outperform” rating and a $32.00 target price on the stock. Scotiabank upped their price target on shares of Rocket Pharmaceuticals from $51.00 to $52.00 and gave the stock a “sector outperform” rating in a research report on Monday, March 3rd. Canaccord Genuity Group cut their price objective on Rocket Pharmaceuticals from $39.00 to $36.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Finally, Chardan Capital lowered their target price 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. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $43.00.

Insiders Place Their Bets

In other Rocket Pharmaceuticals news, CEO Gaurav Shah acquired 20,000 shares of the stock in a transaction that occurred on Thursday, April 10th. The stock was acquired at an average price of $5.08 per share, with a total value of $101,600.00. Following the transaction, the chief executive officer now directly owns 792,680 shares in the company, valued at approximately $4,026,814.40. This represents a 2.59 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Aaron Ondrey sold 7,489 shares of the stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $5.29, for a total transaction of $39,616.81. Following the sale, the chief financial officer now owns 129,650 shares in the company, valued at approximately $685,848.50. This trade represents a 5.46 % decrease in their position. The disclosure for this sale can be found here. 28.50% of the stock is currently owned by company insiders.

Rocket Pharmaceuticals Stock Up 10.5 %

RCKT stock opened at $6.53 on Wednesday. The company has a market capitalization of $696.29 million, a P/E ratio of -2.37 and a beta of 1.00. The firm has a 50 day simple moving average of $8.19 and a 200-day simple moving average of $11.92. The company has a current ratio of 6.05, a quick ratio of 6.05 and a debt-to-equity ratio of 0.06. Rocket Pharmaceuticals, Inc. has a twelve month low of $4.55 and a twelve month high of $26.98.

Rocket Pharmaceuticals (NASDAQ:RCKT) last issued its earnings results 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, equities research analysts predict that Rocket Pharmaceuticals, Inc. will post -2.83 earnings per share for the current fiscal year.

Rocket Pharmaceuticals Company 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.