Northern Trust Corp Buys 205,938 Shares of Rocket Pharmaceuticals Inc (RCKT)
Northern Trust Corp boosted its stake in shares of Rocket Pharmaceuticals Inc (NASDAQ:RCKT) by 622.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 239,036 shares of the biotechnology company’s stock after buying an additional 205,938 shares during the period. Northern Trust Corp owned 0.60% of Rocket Pharmaceuticals worth $4,693,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Strs Ohio acquired a new position in Rocket Pharmaceuticals during the second quarter worth $119,000. Cobblestone Capital Advisors LLC NY purchased a new stake in Rocket Pharmaceuticals in the second quarter valued at $353,000. State of Wisconsin Investment Board purchased a new stake in Rocket Pharmaceuticals in the second quarter valued at $391,000. Rhumbline Advisers purchased a new stake in Rocket Pharmaceuticals in the second quarter valued at $398,000. Finally, Swiss National Bank purchased a new stake in Rocket Pharmaceuticals in the second quarter valued at $740,000. 88.43% of the stock is currently owned by institutional investors.
NASDAQ:RCKT opened at $13.99 on Wednesday. Rocket Pharmaceuticals Inc has a 52 week low of $7.84 and a 52 week high of $25.96. The company has a quick ratio of 12.52, a current ratio of 12.52 and a debt-to-equity ratio of 0.28.
RCKT has been the topic of a number of research analyst reports. LADENBURG THALM/SH SH initiated coverage on Rocket Pharmaceuticals in a research report on Thursday, September 13th. They issued a “buy” rating and a $30.00 target price on the stock. William Blair initiated coverage on Rocket Pharmaceuticals in a research report on Wednesday, August 8th. They issued a “buy” rating on the stock. Finally, Zacks Investment Research upgraded Rocket Pharmaceuticals from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research report on Wednesday, November 14th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $25.33.
Rocket Pharmaceuticals Profile
Rocket Pharmaceuticals, Inc, together with its subsidiaries, operates as a multi-platform biotechnology company that focuses on developing gene therapies for rare and devastating pediatric diseases. It has two lentiviral vector (LVV) programs under clinical testing to treat fanconi anemia, a genetic defect in the bone marrow that reduces production of blood cells; and three LVV programs for the treatment of other rare genetic diseases, as well as an adeno-associated viral vector program, which is under preclinical development.
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