Ieq Capital LLC Invests $1.51 Million in Rocket Pharmaceuticals, Inc. $RCKT

Ieq Capital LLC bought a new position in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 440,255 shares of the biotechnology company’s stock, valued at approximately $1,506,000. Ieq Capital LLC owned about 0.40% of Rocket Pharmaceuticals at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Allworth Financial LP bought a new position in Rocket Pharmaceuticals during the second quarter worth $28,000. BlackRock Inc. bought a new position in shares of Rocket Pharmaceuticals in the second quarter valued at about $33,940,000. Pallas Capital Advisors LLC bought a new position in shares of Rocket Pharmaceuticals in the second quarter valued at about $47,000. Deutsche Bank AG acquired a new stake in shares of Rocket Pharmaceuticals during the 2nd quarter worth about $288,000. Finally, Rice Hall James & Associates LLC acquired a new stake in shares of Rocket Pharmaceuticals during the 2nd quarter worth about $330,000. Institutional investors and hedge funds own 98.39% of the company’s stock.

Insider Buying and Selling

In other Rocket Pharmaceuticals news, COO Christopher James Stevens sold 36,658 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $3.50, for a total transaction of $128,303.00. Following the completion of the transaction, the chief operating officer directly owned 505,784 shares in the company, valued at $1,770,244. The trade was a 6.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 50,613 shares of company stock worth $176,035 in the last three months. 21.30% of the stock is owned by insiders.

Rocket Pharmaceuticals Stock Performance

NASDAQ RCKT opened at $3.66 on Thursday. The firm has a 50-day moving average price of $3.51 and a two-hundred day moving average price of $3.61. Rocket Pharmaceuticals, Inc. has a 12-month low of $2.53 and a 12-month high of $5.45. The company has a market capitalization of $401.79 million, a P/E ratio of -21.53 and a beta of 0.47. The company has a quick ratio of 9.24, a current ratio of 9.24 and a debt-to-equity ratio of 0.05.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its earnings results on Monday, August 10th. The biotechnology company reported $1.08 EPS for the quarter, topping the consensus estimate of $0.86 by $0.22. During the same quarter in the prior year, the firm earned ($0.62) EPS. Analysts anticipate that Rocket Pharmaceuticals, Inc. will post -1.39 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Weiss Ratings lowered shares of Rocket Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, August 11th. Wall Street Zen raised Rocket Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, August 17th. Chardan Capital reiterated a “buy” rating and set a $11.00 target price on shares of Rocket Pharmaceuticals in a research note on Monday, May 11th. Finally, Wedbush dropped their price target on Rocket Pharmaceuticals from $16.00 to $15.00 and set an “outperform” rating for the company in a report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $8.57.

About Rocket Pharmaceuticals

Rocket Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing gene therapies for rare, inherited pediatric diseases. The company employs a proprietary adeno-associated virus (AAV) and lentiviral vector platform to deliver functional copies of genes in patients with genetic deficiencies. Its programs target a spectrum of disorders, including Fanconi anemia, leukocyte adhesion deficiency type I and Danon disease, with the goal of delivering one-time treatments that address the underlying causes of disease rather than merely managing symptoms.

The company’s pipeline comprises multiple product candidates in various stages of development.