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

Skandinaviska Enskilda Banken AB publ acquired a new position in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 22,967 shares of the biotechnology company’s stock, valued at approximately $276,000.

A number of other institutional investors also recently made changes to their positions in RCKT. KBC Group NV boosted its holdings in shares of Rocket Pharmaceuticals by 159.6% during the fourth quarter. KBC Group NV now owns 5,475 shares of the biotechnology company’s stock worth $69,000 after acquiring an additional 3,366 shares during the period. E Fund Management Co. Ltd. bought a new stake in shares of Rocket Pharmaceuticals in the fourth quarter valued at approximately $139,000. Strategic Financial Concepts LLC bought a new stake in shares of Rocket Pharmaceuticals in the fourth quarter valued at approximately $141,000. Private Advisor Group LLC bought a new stake in shares of Rocket Pharmaceuticals in the fourth quarter valued at approximately $166,000. Finally, Dana Investment Advisors Inc. boosted its stake in shares of Rocket Pharmaceuticals by 17.5% in the fourth quarter. Dana Investment Advisors Inc. now owns 17,608 shares of the biotechnology company’s stock valued at $221,000 after buying an additional 2,627 shares during the period. Institutional investors own 98.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. BMO Capital Markets assumed coverage on Rocket Pharmaceuticals in a research note on Wednesday, March 12th. They issued an “outperform” rating and a $50.00 price target for the company. Chardan Capital cut their price target 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. The Goldman Sachs Group cut their price target 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. Needham & Company LLC cut their price target on Rocket Pharmaceuticals from $52.00 to $42.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Finally, Scotiabank boosted their price objective on shares of Rocket Pharmaceuticals from $51.00 to $52.00 and gave the company a “sector outperform” rating in a research report on Monday, March 3rd. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $43.00.

Rocket Pharmaceuticals Stock Down 5.4 %

Shares of NASDAQ:RCKT opened at $8.35 on Wednesday. The company has a fifty day moving average of $10.06 and a 200-day moving average of $13.79. The company has a market capitalization of $890.36 million, a PE ratio of -3.04 and a beta of 1.03. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.05 and a current ratio of 6.05. Rocket Pharmaceuticals, Inc. has a 52-week low of $8.06 and a 52-week high of $28.67.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its quarterly earnings results on Monday, March 3rd. The biotechnology company reported ($0.62) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.68) by $0.06. On average, equities analysts predict that Rocket Pharmaceuticals, Inc. will post -2.83 EPS for the current fiscal year.

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.